Continues Endo's Transformation into a Leading
Global Specialty Pharmaceutical Company
DUBLIN, Aug. 4, 2015 /PRNewswire/ -- Endo
International plc (NASDAQ: ENDP) (TSX: ENL) today announced the
completion of the previously announced sale of its American Medical
Systems' (AMS) Men's and Prostate Health businesses to Boston
Scientific (NYSE: BSX) for a purchase price of up to $1.65 billion, with $1.60
billion in cash having been paid by Boston Scientific to
Endo at closing. As previously announced, Endo is also eligible to
receive a potential milestone payment of $50
million in cash conditioned on the achievement of certain
product revenue milestones in the Men's Health and Prostate Health
businesses in 2016.
"We are pleased to have completed the divestiture of our AMS
Men's and Prostate Health businesses, marking another important
milestone in our strategy to transform our portfolio and sharpen
our focus on enhancing leadership in the global specialty
pharmaceutical market," said Rajiv De
Silva, President and CEO of Endo. "I would like to thank
Camille Farhat, his leadership team
and all of the employees of AMS for their continued dedication and
tireless commitment to supporting the business. As Endo moves
forward, we are excited about our ability to build a powerful
platform for future organic growth, and to continue executing on
value-driven strategic M&A to deliver enhanced value for
shareholders."
"This is an important milestone in AMS's history and an
extremely exciting time for the business," said Camille Farhat, President of American Medical
Systems under Endo. "The Men's and Prostate Health businesses
continue to grow and are now positioned for further expansion as
part of Boston Scientific. Additionally, our Women's Health
business will continue to operate to meet the needs of patients and
physicians as Endo continues to actively evaluate strategic
alternatives for that business. I would like to thank the AMS teams
for their professional service and personal commitment to our
customers, patients and collective success."
BofA Merrill Lynch served as financial advisor to Endo. Skadden,
Arps, Slate, Meagher & Flom LLP serves as its legal
advisor.
About Endo International plc
Endo International plc is a global specialty pharmaceutical
company focused on improving patients' lives while creating
shareholder value. Endo develops, manufactures, markets and
distributes quality branded pharmaceutical and generic
pharmaceutical products as well as over-the-counter medications
though its operating companies. Endo has global headquarters in
Dublin, Ireland, and U.S.
headquarters in Malvern, PA. Learn
more at www.endo.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements"
relating to the divestiture of certain products by Endo to Boston
Scientific. All statements other than historical facts included in
this press release, including, but not limited to, the statements
by Mr. De Silva and Mr. Farhat, the continued operation of the AMS
Women's Health business by Endo, the expected benefits of the
divestiture, including potential milestone payments to Endo and the
assumptions underlying the foregoing, are forward-looking
statements. These statements are based on current expectations of
future events. If underlying assumptions prove inaccurate or
unknown, or unknown risks or uncertainties materialize, actual
results could vary materially from Endo's expectations and
projections. Risks and uncertainties include, among other things,
the cautionary statements contained in Endo's periodic reports
filed with the U.S. Securities and Exchange Commission and
in Canada on the System for Electronic Data Analysis and
Retrieval ("SEDAR"), including current reports on Form 8-K,
quarterly reports on Form 10-Q and annual reports on Form 10-K.
Given these uncertainties, you should not place undue reliance on
these forward-looking statements, which apply only as of the date
of this press release. Endo expressly disclaims any intent or
obligation to update these forward-looking statements except as
required by law. Additional information about Endo is available at
www.endo.com or you can contact Endo Investor Relations by
calling (484) 216-0000.
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SOURCE Endo International plc