Endo Announces Early Termination of HSR Act Waiting Period and Canadian Competition Act Compliance in Connection with Its

   Endo Announces Early Termination of HSR Act Waiting Period and Canadian
  Competition Act Compliance in Connection with Its Proposed Acquisition of
                                 Paladin Labs

PR Newswire

MALVERN, Pa. and MONTREAL, Dec. 19, 2013

MALVERN, Pa. and MONTREAL, Dec. 19, 2013 /PRNewswire/ -- Endo Health Solutions
(NASDAQ: ENDP) ("Endo") today announced that the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ("HSR Act")
in connection with Endo's proposed acquisition of Paladin Labs Inc. (TSX: PLB)
("Paladin Labs") was terminated by the United States Federal Trade Commission
on December 17, 2013. Endo also today announced that the Canadian Competition
Bureau issued a no-action letter on December 18, 2013, which constitutes
Canadian Competition Act compliance for Endo's proposed acquisition of Paladin
Labs. Pursuant to the acquisition, each of Endo and Paladin Labs will be
acquired by a newly-formed Irish holding company ("New Endo").

As previously announced on November 5, 2013, Endo and Paladin entered into a
definitive agreement pursuant to which Endo would acquire Paladin Labs in a
stock and cash transaction valued at approximately $1.6 billion. The early
termination of the HSR waiting period in the United States and the no-action
letter obtained from the Canadian Competition Bureau in Canada satisfy
conditions to the proposed acquisition. The proposed acquisition remains
subject to certain conditions and approvals, including regulatory approvals
(including in connection with the South African Competition Act and the
Investment Canada Act), approval by shareholders of Endo and Paladin Labs,
approval of the Superior Court of Quebec, registration and listing of New Endo
shares and customary closing conditions.

About Endo:
Endo Health Solutions Inc. is a U.S.-based specialty healthcare company with
four distinct business segments that are focused on branded and generic
pharmaceuticals, devices and services and provide quality products to its
customers while improving the lives of patients. Through its operating
companies - AMS, Endo Pharmaceuticals, HealthTronics and Qualitest - Endo is
dedicated to finding solutions for the unmet needs of patients. Learn more at
www.endo.com. 

About Paladin Labs:
Paladin Labs Inc., headquartered in Montreal, Canada, is a specialty
pharmaceutical company focused on acquiring or in-licensing innovative
pharmaceutical products for the Canadian and world markets. With this
strategy, a focused national sales team and proven marketing expertise,
Paladin Labs has evolved into one of Canada's leading specialty pharmaceutical
companies. Paladin Lab's shares trade on the Toronto Stock Exchange under the
symbol "PLB." For more information about Paladin Labs, please visit
www.paladin-labs.com. 

No Offer or Solicitation
This communication is not intended to and does not constitute an offer to sell
or the solicitation of an offer to subscribe for or buy or an invitation to
purchase or subscribe for any securities or the solicitation of any vote or
approval in any jurisdiction pursuant to the acquisition or otherwise, nor
shall there be any sale, issuance or transfer of securities in any
jurisdiction in contravention of applicable law. No offer of securities shall
be made except by means of a prospectus meeting the requirements of Section 10
of the Securities Act of 1933, as amended.

Additional Information
New Endo has filed with the Securities and Exchange Commission (the "SEC") a
registration statement on Form S-4 that includes the preliminary Proxy
Statement/Prospectus (the "Proxy Statement/Prospectus"). Endo plans to mail
its shareholders the definitive Proxy Statement/Prospectus and Paladin Labs
plans to mail its shareholders a circular (the "Circular"), each in connection
with the acquisition. INVESTORS AND SHAREHOLDERS ARE URGED TO READ THE PROXY
STATEMENT/PROSPECTUS OR CIRCULAR, AS APPLICABLE, AND OTHER RELEVANT DOCUMENTS
WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION
ABOUT NEW ENDO, PALADIN LABS, THE ACQUISITION AND RELATED MATTERS. Investors
and security holders may obtain free copies of the Proxy Statement/Prospectus
and other documents filed with the SEC by Endo through the website maintained
by the SEC at www.sec.gov. Investors and security holders will be able to
obtain free copies of the Circular and other documents filed by Paladin Labs
on the System for Electronic Document Analysis Retrieval ("SEDAR") website
maintained by the Canadian Securities Administrators at http://www.sedar.com.
In addition, investors and shareholders may obtain free copies of the Proxy
Statement/Prospectus and other documents filed by Endo with the SEC by
contacting Endo's Corporate Secretary at 484-216-0000, and will be able to
obtain free copies of the Circular and other documents filed by Paladin Labs
on the SEDAR website by contacting Samira Sakhia at 514-669-5367.

Participants in the Solicitation
Paladin Labs and Endo and their respective directors and executive officers
may be deemed to be participants in the solicitation of proxies from the
respective shareholders of Paladin Labs and Endo in respect of the
transactions contemplated by the Proxy Statement/Prospectus and the Circular.
Information regarding the persons who may, under the rules of the SEC, be
deemed participants in the solicitation of the respective shareholders of
Paladin Labs and Endo in connection with the proposed acquisition, including a
description of their direct or indirect interests, by security holdings or
otherwise, are set forth in the Proxy Statement/Prospectus and will be set
forth in the Circular. Information regarding Paladin Labs' directors and
executive officers is contained in Paladin Labs' Annual Report for the year
ended December 31, 2012, filed on the SEDAR website. Information regarding
Endo's directors and executive officers is contained in Endo's Annual Report
on Form 10-K for the year ended December 31, 2012, filed with the SEC.

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Statements including
words such as "believes," "expects," "anticipates," "intends," "estimates,"
"plan," "will," "may," "look forward," "intend," "guidance," "future" or
similar expressions are forward-looking statements. These forward-looking
statements may include, without limitation, statements regarding the
completion of the proposed transaction and other statements that are not
historical facts. Although Endo and Paladin Labs each believe its
forward-looking statements are reasonable, they are subject to important risks
and uncertainties. Those include, without limitation, the failure to receive,
on a timely basis or otherwise, the required approvals by Endo and Paladin
Labs shareholders, the Superior Court of Quebec and applicable government and
regulatory authorities, the terms of those approvals, the risk that a
condition to closing contemplated by the arrangement agreement may not be
satisfied or waived, the inability to realize expected synergies or cost
savings or difficulties related to the integration of Endo and Paladin Labs
operations, the ability of the combined company to retain and hire key
personnel and maintain relationships with customers, suppliers or other
business partners, or other adverse events, changes in applicable laws or
regulations, competition from other pharmaceutical companies, and other risks
disclosed in Endo and Paladin Labs' public filings, any or all of which could
cause actual results to differ materially from future results expressed,
projected or implied by the forward-looking statements. The forward-looking
statements in this press release are qualified by these risk factors. As a
result of these risks and uncertainties, the proposed transaction could be
modified, restructured or not be completed, and actual results and events may
differ materially from the results and events contemplated in these
forward-looking statements and from historical results. Neither Endo nor
Paladin Labs assumes any obligation to publicly update any forward-looking
statements, except as may be required under applicable securities laws, or to
comment on expectations of, or statements made by the other party or third
parties in respect of the proposed transaction. These forward-looking
statements are not guarantees of future performance, given that they involve
risks and uncertainties. Investors should not assume that any lack of update
to previously issued forward-looking statement constitutes a reaffirmation of
that statement. Continued reliance on forward-looking statements is at
investors' own risk.

For more information regarding these and other risks and uncertainties that
Endo may face, see the section entitled "Risk Factors" in Endo's Form 10-K,
Form 10-Q and Form 8-K filings with the SEC and as otherwise enumerated herein
or therein.

For more information regarding these and other risks and uncertainties that
Paladin Labs may face, see the section entitled "Risks Related to Paladin
Labs' Business" in Paladin Labs' Information Form for the year ended December
31, 2012 and the sections in Paladin Labs' Management's Discussion and
analysis entitled "Concentration of Credit Risk and Major Customers,"
"Liquidity Risk," "Foreign Exchange Risk," "Interest Rate Risk," and "Equity
Price Risk" contained in Paladin's Annual Report for the year ended December
31, 2012 filed on the SEDAR website.

SOURCE Endo Health Solutions Inc.

Website: http://www.endo.com
Contact: Investors/Media: Blaine Davis, (484) 216-7158, Investors: Jonathan
Neely, (484) 216-6645, Media: Brian O'Donnell, (484) 216-6726
 
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