Reuters: Endo Health Talks with Potential Buyers

Wednesday, 30 Jan 2013 03:19 PM

 

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Endo Health Solutions Inc. has held talks in recent weeks with drugmakers interested in potentially buying the maker of pain-relief medication, people familiar with the matter said on Wednesday.

The exploratory talks included such interested parties as Warner Chilcott Plc and Valeant Pharmaceuticals International Inc, according to the sources. Endo announced in December its longtime chief executive, David Holveck, would retire in 2013.

There is no official auction process currently underway for the Chadds Ford, Pennsylvania-based Endo, and discussions about a potential sale are at a preliminary stage, said the sources, who asked for anonymity because the matter is not public.

Representatives for Endo and Warner Chilcott did not immediately respond to requests for comment. Valeant declined to comment.

Endo, a diversified U.S. healthcare company with a market capitalization of $3.3 billion, makes prescription pharmaceuticals used primarily to treat and manage pain.

Endo's shares rallied on the news Wednesday. In New York, the stock ended up 10.8 percent at $31.66, after trading as high as $33.32.
 

© 2014 Thomson/Reuters. All rights reserved.

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