Endo Announces Shareholder Approval of its Acquisition of Paladin Labs

    Endo Announces Shareholder Approval of its Acquisition of Paladin Labs

PR Newswire

MALVERN, Pa., Feb. 26, 2014

MALVERN, Pa., Feb. 26, 2014 /PRNewswire/ -- Endo Health Solutions Inc.
(NASDAQ: ENDP) ("Endo") today announced that, at the shareholder meeting held
today, proposals related to Endo's proposed acquisition of Paladin Labs Inc.
(TSX: PLB) ("Paladin") were approved by Endo's shareholders.

As previously announced, on November 5, 2013, Endo and Paladin entered into an
arrangement agreement pursuant to which each of Endo and Paladin will be
acquired by a new Irish holding company, Endo International plc ("New Endo").
Under the terms of the arrangement agreement (a) New Endo will acquire Paladin
pursuant to a plan of arrangement under Canadian law and (b) a newly formed
subsidiary of New Endo will merge with and into Endo, with Endo as the
surviving corporation in the merger and an indirect wholly owned subsidiary of
New Endo.

Endo's shareholder approval satisfies certain conditions to the closing of the
proposed transaction. The proposed transaction remains subject to certain
conditions and approvals, including approval of the Superior Court of Quebec,
listing of New Endo shares and customary closing conditions, and is expected
to occur promptly following satisfaction of all conditions.

About Endo:
Endo Health Solutions Inc. is a U.S.-based specialty healthcare company with
business segments that are focused on branded pharmaceuticals, generics, and
medical devices which deliver quality products to its customers intended to
improve the lives of patients. Through its operating companies - Endo
Pharmaceuticals, Qualitest, and AMS - Endo is dedicated to delivering value to
our stakeholders: customers, patients, and shareholders. 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.

Additional Information

New Endo has filed with the Securities and Exchange Commission (the "SEC") a
registration statement on Form S-4 that includes the Proxy
Statement/Prospectus of New Endo. Endo and Paladin mailed their respective
shareholders the Proxy Statement/Prospectus and Circular, respectively, in
connection with the transactions. INVESTORS AND SHAREHOLDERS ARE URGED TO READ
THE PROXY STATEMENT/PROSPECTUSAND OTHER RELEVANT DOCUMENTS WHEN THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ENDO, PALADIN,
THE TRANSACTIONS 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 may obtain free copies of the Circular and
other documents filed by Paladin 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 New Endo and Endo with the SEC by contacting Endo's
Corporate Secretary or by calling 484-216-0000, and will be able to obtain
free copies of the Circular and other documents filed by Paladin on the SEDAR
website by contacting Samira Sakhia or by calling 514-669-5367.

Safe Harbor Statement

This communication 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 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
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
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's 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 communication 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 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 may face, see the section entitled "Risks Related to Paladin's
Business" in Paladin's Information Form for the year ended December 31, 2012
and the sections in Paladin 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.

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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