MALVERN, Pa., March 11, 2025 /PRNewswire/ -- Endo, Inc. ("Endo" or the "Company") (OTCQX: NDOI) today announced it has entered into a definitive agreement to divest its International Pharmaceuticals business, primarily operated through Canada-based specialty pharmaceutical company Paladin Pharma Inc., to Knight Therapeutics Inc. for a total consideration of up to $99 million, consisting of an upfront cash payment of $84 million and up to an additional $15 million in potential future payments contingent upon the achievement of certain milestones.
Knight Therapeutics is a specialty pharmaceutical company focused on acquiring, in-licensing, out-licensing, marketing and commercializing innovative prescription pharmaceuticals, primarily serving Canada and Latin America.
"This divestiture is an important step forward in our strategic transformation and focus on investing in our core-growth assets," said Scott Hirsch, Interim CEO of Endo. "We are confident that Paladin is well positioned for continued success in the Canadian market and that Knight Therapeutics is the right partner for Paladin's next chapter. We are grateful to the talented Paladin team for their dedication and many contributions."
The closing of the transaction is subject to the satisfaction of customary regulatory conditions including anti-trust clearance in Canada and is expected to occur in mid-2025.
About Endo
Endo is a diversified pharmaceutical company boldly transforming insights into life-enhancing therapies. Our passionate team members collaborate to develop and deliver these essential medicines. Together, we are committed to helping everyone we serve live their best life. Learn more at www.endo.com or connect with us on LinkedIn.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements including, but not limited, to any statements by Mr. Hirsch, any statements relating to the divestiture of the International Pharmaceuticals business and any statements that refer to expected, estimated or anticipated future results or that do not relate solely to historical facts. Statements including words such as "believes," "expects," "anticipates," "intends," "estimates," "plan," "will," "may," "look forward," "intends," "guidance," "future," "potential" or similar expressions are forward-looking statements. Because these statements reflect Endo's current views, expectations and beliefs concerning future events, they involve risks and uncertainties, some of which Endo may not currently be able to predict. Although Endo believes that these forward-looking statements and other information are based upon reasonable assumptions and expectations, readers should not place undue reliance on these or any other forward-looking statements and information. Actual results may differ materially and adversely from current expectations based on a number of factors, including, among other things, the following: the parties' ability to satisfy the conditions to the divestiture of the International Pharmaceuticals business, including required regulatory approvals; the ability to complete the divestiture on the anticipated timeline or at all; the potential impact of the divestiture on Endo's businesses; the risk that consummating the divestiture may be more difficult, time-consuming and costly than expected; changes in competitive, market or regulatory conditions; changes in legislation or regulations; the ability to obtain and maintain adequate protection for intellectual property rights; the impacts of competition; the timing and uncertainty of the results of the research and development and the regulatory processes; health care and cost containment reforms, including government pricing, tax and reimbursement policies; litigation and other disputes; consumer and physician acceptance of current and new products; the performance of third parties upon whom we rely for goods and services; issues associated with our supply chain; the ability to develop and expand our product pipeline, to launch new products and to continue to develop the market for our products; and the effectiveness of advertising and other promotional campaigns. Endo assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required under applicable securities laws. Additional information concerning risk factors, including those referenced above, can be found in press releases issued by Endo and in Endo's public filings with the U.S. Securities and Exchange Commission, including the discussion under the heading "Risk Factors" in Endo's most recent Form 10-Q and in Endo's final prospectus filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, in connection with Endo's Form S-1/A.
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