Endo to enhance probability of portfolio with BioSpecifics acquisition

Endo International is acquiring all of the outstanding shares of New York biopharma, BioSpecifics Technologies, in a deal that values the latter at $540 million.

Endo has had a strategic relationship with BioSpecifics since 2004. Under the terms of that relationship, BioSpecifics receives a royalty stream from Endo related to Endo’s collagenase-based therapies.

This currently includes Xiaflex, marketed by Endo Pharmaceuticals, for the treatment of Dupuytren’s contracture and Peyronie’s disease, and Qwo, the first FDA-approved injectable treatment for cellulite, which is expected to be launched by Endo Aesthetics in Spring 2021.

“Acquiring BioSpecifics is consistent with our strategic priority to expand and enhance our portfolio through additional investment in the significant long-term growth potential of both Xiaflex and Qwo – two of our most durable and differentiated products,” said Blaise Coleman, President and CEO of Endo.

“This transaction will also immediately enhance Endo’s adjusted EBITDA and create significant value for shareholders of both organizations.”

Endo, through a wholly owned subsidiary, will commence an all-cash tender offer to acquire 100% of the outstanding common stock of BioSpecifics for $88.50 per share. The transaction is expected to close in late 2020.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site but journalism costs money and we rely on advertising and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites with a small donation of even £1, your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

In the meantime may I wish you the very best.

- Advertisement -

FairJourney Biologics enters antibody discovery agreement with Pandion Therapeutics

FairJourney Biologics S.A (FJB) and IONTAS Limited (IONTAS), leaders in the discovery and optimization of VHH and fully human antibodies, have signed an agreement...

Beckman Coulter launch SARS-CoV-2 IgM antibody test in countries accepting CE Mark

Beckman Coulter, a clinical diagnostics leader, has announced the launch of its Access SARS-CoV-2 Immunoglobulin M (IgM) assay in countries accepting the CE Mark. The...

95% efficiency for Pfizer & BioNTech’s mRNA-based COVID vaccine candidate

Pfizer and BioNTech’s mRNA-based COVID-19 vaccine candidate – BNT162b2 – has achieved an efficiency rate of 95% after hitting all primary endpoints in a...

BMS completes $13bn MyoKardia acquisition

Bristol Myers Squibb (BMS) has completed its $13.1 billion acquisition of MyoKardia. “We are excited to welcome MyoKardia colleagues to Bristol Myers Squibb,” said BMS...

Samsung Biologics breaks ground on ‘world’s largest’ biopharma manufacturing facility

Samsung Biologics has officially begun construction of its Plant 4 in Incheon, South Korea. Dubbed the “Super Plant”, the new, multi-story 238,000-square-meter construction will be...

Related news

Regeneron’s antibody cocktail granted Emergency Use Authorisation

The FDA has granted Emergency Use Authorisation (EUA) to Regeneron’s antibody cocktail for COVID-19. The cocktail combines casirivimab and imdevimab administered together is the first...

FairJourney Biologics enters antibody discovery agreement with Pandion Therapeutics

FairJourney Biologics S.A (FJB) and IONTAS Limited (IONTAS), leaders in the discovery and optimization of VHH and fully human antibodies, have signed an agreement...

Beckman Coulter launch SARS-CoV-2 IgM antibody test in countries accepting CE Mark

Beckman Coulter, a clinical diagnostics leader, has announced the launch of its Access SARS-CoV-2 Immunoglobulin M (IgM) assay in countries accepting the CE Mark. The...

95% efficiency for Pfizer & BioNTech’s mRNA-based COVID vaccine candidate

Pfizer and BioNTech’s mRNA-based COVID-19 vaccine candidate – BNT162b2 – has achieved an efficiency rate of 95% after hitting all primary endpoints in a...