Endo to Acquire Generics Company Qualitest for $1.2 Billion
Qualitest is the sixth-largest U.S. generics company as measured by prescriptions filled. Qualitest will add about $400 million to Endo's annual revenue and 40 cents per share in annual adjusted earnings, Endo said in a statement.
The deal is expected to close no later than the end of the first quarter of 2011. Endo will finance the deal using $500 million from its balance sheet, drawing down an existing $300 million revolving credit facility and as much as $400 million of extra financing.