MALVERN, PA — Endo, Inc. (OTCQX: NDOI) has announced a definitive agreement to divest its International Pharmaceuticals business, operated primarily through Canada-based Paladin Pharma Inc., to Knight Therapeutics Inc. The deal, valued at up to $99 million, includes an upfront cash payment of $84 million and potential milestone-based payments of up to $15 million.
Knight Therapeutics, a specialty pharmaceutical company focused on Canada and Latin America, will acquire Paladin, known for its portfolio of innovative prescription pharmaceuticals.
“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 transaction, subject to customary regulatory approvals including Canadian anti-trust clearance, is expected to close by mid-2025. The agreement marks a critical step in Endo’s broader strategy to streamline operations and focus on its key growth areas.
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