In yet another pharmaceutical deal, Endo International plc (Nasdaq: ENDP) is buying Dava Pharmaceuticals for $575 million in cash.
Dava, headquartered in Fort Lee, New Jersey, specializes in marketed, pre-launch and generic pharmaceuticals, including Amoxicillin capsules and Penicillin.
Dublin-based Endo is a specialty health care company that develops, manufactures, markets and distributes branded and generic pharmaceutical products through its operating companies. The deal enhances Endo's commercialization and development possibilities. The group has a U.S. headquarters in Malvern, Pennsylvania.
The transaction includes another potential $25 million based on certain sales milestones.
Oppenheimer & Co. is acting as Dava's lead financial adviser, while Jefferies LLC also provides financial advice. Dechert LLP is provided legal counsel to Dava. Skadden Arps Slate Meagher & Flom LLP is Endo's legal adviser.