Endo International agrees €7bn buy of Par Pharmaceuticals in cash and stock

Endo International, the Dublin-based maker of pain drugs like Opana and Percocet, has agreed to buy Par Pharmaceuticals for $8.05bn (€7.09bn) in cash and stock as part of a plan to ignite sales growth and pursue more acquisitions.

In exchange for Par, the drugmaker agreed to give private-equity firm TPG Capital $1.55bn in stock and $6.5bn in cash, and will assume Par’s debt, the companies said in a statement yesterday.

The takeover will create a generic-drug business that is among the top five in US sales, the companies said, and will boost Endo’s earnings in the first year.