Endo Buys 6 Development Stage, Ready-to-use Injectable Product Candidates From Nevakar For $35 Mln

Endo International Plc (ENDP) said Monday that its subsidiary, Endo Ventures Limited, has acquired six development stage, ready-to-use injectable product candidates from Nevakar Injectables Inc., an arm of Nevakar, Inc., for $35 million.

The company said, the one-time payment of $35 million is expected to be expensed immediately in the second quarter, as acquired in-process research and development costs.

Scott Sims, General Manager of Injectable Solutions & Generics at Endo, commented: "These six product candidates that would be used in critical care settings meaningfully expand Endo's ready-to-use injectable product pipeline. We look forward to further developing and bringing these durable and differentiated products to market-and to the healthcare providers and patients who need them."

The product candidates are in various stages of development, with the first launch expected in 2025.

With this move, the acquirer will controls all remaining development, approval, launch and commercialization activities for the product candidates.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
MTD Products Inc. is recalling 1,774 units of walk-behind self-propelled lawn mowers for potential risk of fire hazard, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. The company said the lawn mower can leak fuel when it is stored in the upright (vertical) storage position to pose a fire hazard. Nike Inc. announced its plans to exit the Russian market completely following Russia's ongoing war against Ukraine, reports said. The sportswear major, with more than 100 stores in the country, had suspended operations there in March. Earlier in March, while suspending operations temporarily, the company had said its customers that it couldn't guarantee product shipments. The U.S. Food and Drug Administration unveiled its action plan to advance drug development for rare neurodegenerative diseases, including Amyotrophic Lateral Sclerosis or ALS, in five years. The FDA plans specific actions such as regulatory science initiatives, enhancements to existing programs and new policy initiatives for the purpose. It will use public-private partnerships...
Follow RTT