Pharma BD Deal Intelligence

Endo International plc / DAVA Pharmaceuticals, Inc.

2014 · Acquisition/Merger · $600M · Complete

WRONG BY 50 POINTS
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The coverage arc

Jun 24, 2014 FiercePharma Bullish

Endo to acquire DAVA Pharmaceuticals for $575M cash plus $25M sales-milestone earn-out, pursuing CEO De Silva's accretive M&A roll-up strategy.

Jul 04, 2014 GaBI Online Neutral

Endo acquires DAVA, a specialty generics maker generating ~$131M revenue and ~$100M adjusted EBITDA in 2013, expected to be immediately accretive to…

Feb 24, 2015 BioPharma Dive Neutral

Endo's M&A appetite continued post-DAVA with bids on Salix and Auxilium, underscoring the De Silva-era roll-up that ultimately exposed Endo to generic-pricing…

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Endo agreed to acquire privately held generics maker DAVA Pharmaceuticals for $575M cash plus $25M sales-milestone earn-out. DAVA generated $131M revenue and ~$100M adj. EBITDA in 2013 across a niche specialty generics portfolio. Closed August 6, 2014.

Did it work? Outcome assessment

Strategic verdict
Failed to Achieve
Financial impact
Impaired/Written Down
Pipeline outcome
Assets Stalled

Key facts

Related deals — scored

DealYearValueOutcome
Endo International plc / DAVA Pharmaceuticals, Inc. (this deal)2014$600M25
Endo International plc / Auxilium Pharmaceuticals, Inc.2014$2.6B47
Endo International plc / Grupo Farmaceutico Somar SAPI de CV2014$270M18
Endo International plc / Par Pharmaceutical Holdings, Inc.2015$8.1B15
Watson Pharmaceuticals (Actavis Inc.) / Actavis plc2012$5.9B97
Kohlberg Kravis Roberts & Co. / PRA International (Genstar Capital)2013$1.3B91
Stryker Corporation / MAKO Surgical Corp.2013$1.6B91

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