Endo Acquires Six Development-Stage, Injectable Product Candidates For $35M

Endo International plc ENDP has acquired six development-stage, ready-to-use injectable product candidates from Nevakar Injectables Inc, a subsidiary of Nevakar Inc.
Under the agreement terms, Endo purchased the six product candidates from Nevakar Injectables for a one-time payment of $35 million to be expensed immediately in Q2 as acquired in-process research and development costs.
This acquisition is separate from Endo's previously announced exclusive licensing agreement with Nevakar.
"These six product candidates that would be used in critical care settings meaningfully expand Endo's ready-to-use injectable product pipeline," said Scott Sims, Senior Vice President and General Manager, Injectable Solutions & Generics at Endo.
The product candidates are in various stages of development, with the first launch expected in 2025.
Price Action: ENDP shares are up 5.50% at $2.11 during the market session on the last check Monday.