September 28, 2015
Endo International, based in Ireland with U.S. headquarters in Malvern, has become the five-largest generic drug company in America after acquiring Par Pharmaceutical Holdings for over $8 billion.
Endo's generics unit, Qualitest Pharmaceuticals, will combine with the other company's unit and take on the name Par, the Philadelphia Business Journal reported.
The Federal Trade Commission approved the merger only after Endo agreed to sell two of its products, including an ulcer medication and a treatment for hyperthyroidism.
Endo's annual revenues are now projected to be $4.2 billion a year, up from $2.9 billion in 2014.