Pharma BD Deal Intelligence

Endo International plc / Par Pharmaceutical Holdings, Inc.

2015 · Acquisition/Merger · $8.1B · Complete

CALLED IT — OFF BY 23
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Top 10 biggest flops we track

Ranks computed across 828 graded deals (Critic + Outcome Score both present).

The coverage arc

May 18, 2015 Bloomberg Neutral

Endo agreed to buy Par for $8.05B 'amid hunt for deals,' positioning the move within a broader specialty-pharma M&A wave driven by tax-inversion structures and…

Nov 08, 2016 BioPharma Dive Bearish

Roughly one year post-close, Endo was talking about pricing pressure and 'generics market turmoil' on Par's portfolio, an early signal that the $8B thesis was…

Mar 18, 2026 FiercePharma Bearish

Post-Mallinckrodt merger, the combined entity rebranded as Keenova and spun the legacy Par generics business out as 'Par Health' — a retrospective signal that…

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Endo agreed to acquire Par Pharmaceutical from TPG-led investors for approximately $8.05B ($1.6B stock + $4.1B cash + $2.4B assumed debt), positioning Endo's Qualitest unit as a top-five US generics player. Closed September 28, 2015.

Did it work? Outcome assessment

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

Key facts

Related deals — scored

DealYearValueOutcome
Endo International plc / Par Pharmaceutical Holdings, Inc. (this deal)2015$8.1B15
Endo International plc / Auxilium Pharmaceuticals, Inc.2014$2.6B47
Endo International plc / DAVA Pharmaceuticals, Inc.2014$600M25
Endo International plc / Grupo Farmaceutico Somar SAPI de CV2014$270M18
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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