Endo Buys 6 Development Stage, Ready-to-use Injectable Product Candidates From Nevakar For $35 Mln

(RTTNews) - Endo International Plc (ENDP) said Monday that its subsidiary, Endo Ventures Limited, has acquired six development stage, ready-to-use injectable product candidates from Nevakar Injectables Inc., an arm of Nevakar, Inc., for $35 million.

The company said, the one-time payment of $35 million is expected to be expensed immediately in the second quarter, as acquired in-process research and development costs.

Scott Sims, General Manager of Injectable Solutions & Generics at Endo, commented: "These six product candidates that would be used in critical care settings meaningfully expand Endo's ready-to-use injectable product pipeline. We look forward to further developing and bringing these durable and differentiated products to market-and to the healthcare providers and patients who need them."

The product candidates are in various stages of development, with the first launch expected in 2025.

With this move, the acquirer will controls all remaining development, approval, launch and commercialization activities for the product candidates.