Endo completes acquisition of Grupo Farmaceutico Somar®
DUBLIN, July 24, 2014
DUBLIN, July 24, 2014 /PRNewswire/ --
*Advances Endo's transformation into a leading global specialty healthcare
*Establishes a platform for growth in key Latin American emerging markets
*Norbert Oppitz appointed Regional President, Latin America, Africa and
Endo International plc (NASDAQ: ENDP) (TSX: ENL) announced today that it has
completed the acquisition of Grupo Farmaceutico Somar ^® (Somar), a leading,
privately owned specialty pharmaceuticals company based in Mexico City. The
combination of Somar and Endo advances Endo's position as a leading global
specialty healthcare company. It also establishes a platform for growth in key
emerging markets in Latin America. Endo will leverage its global resources
along with Somar's proven commercial organization and scalable manufacturing
facilities to take full advantage of Somar's robust portfolio of current
products and pipeline of over 60 new products that are expected to launch over
the next three years.
Additionally, Endo has appointed Norbert Oppitz as regional president, Latin
America, Africa and Export Markets, effective October 1, 2014. In this
capacity, Mr. Oppitz will assume responsibility for Endo's business in Mexico,
including Somar, as well as provide oversight for Endo's investment in Litha
Healthcare, based in South Africa. He brings to Endo a wealth of global
pharmaceutical leadership experience and industry expertise, having overseen
the growth and development of businesses for nearly 25 years in Latin America,
the Middle East and North Africa. Most recently, Mr. Oppitz held the
leadership position of SVP Latin America for Takeda Pharmaceuticals. In his
new role with Endo, Mr. Oppitz will report to Rajiv De Silva, Endo's president
and chief executive officer.
"The successful acquisition of Somar supports our strategy for growth and
creates a substantial presence for Endo in the exciting and growing Latin
American market," said Rajiv De Silva, president and CEO of Endo. "Together
with the addition of Norbert to our leadership team I believe we are well
positioned to meet the evolving needs of the patients we serve while creating
value for our shareholders."
About Endo International plc Endo International plc is a global specialty
healthcare company focused on improving patients' lives while creating
shareholder value. Endo develops, manufactures, markets, and distributes
quality branded pharmaceutical, generic and device products through its
operating companies. Endo has global headquarters in Dublin, Ireland, and U.S.
headquarters in Malvern, PA. Learn more at www.endo.com .
About Grupo Farmaceutico Somar ^® Somar, headquartered in Mexico City, is a
leading pharmaceutical company focused on developing, manufacturing and
marketing high-quality generic, branded generic and over-the-counter products
across key market segments in Mexico. Somar is an operating company of Endo
International plc, a global specialty healthcare company focused on improving
the lives of patients while creating value.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 and Canadian securities
legislation. Statements including words such as "believes," "expects,"
"anticipates," "intends," "estimates," "plan," "will," "may," "look forward,"
"intend," "guidance," "future" are forward-looking statements. Because these
statements reflect our current views, expectations and beliefs concerning
future events, these forward-looking statements involve risks and
uncertainties. Although Endo believes that these forward-looking statements
and information are based upon reasonable assumptions and expectations,
readers should not place undue reliance on them, or any other forward looking
statements or information in this news release. Investors should note that
many factors, as more fully described in the documents filed by Endo with
securities regulators in the United States and Canada including under the
caption "Risk Factors" in Endo Health Solutions Inc.'s ("EHSI") Form 10-K, and
Endo's Form 10-Q and Form 8-K filings, as applicable, with the Securities and
Exchange Commission and with securities regulators in Canada on the System for
Electronic Document Analysis and Retrieval ("SEDAR") and as otherwise
enumerated herein or therein, could affect Endo's future financial results and
could cause Endo's actual results to differ materially from those expressed in
forward-looking statements contained in EHSI's Annual Report on Form 10-K. The
forward-looking statements in this press release are qualified by these risk
factors. These are factors that, individually or in the aggregate, could cause
our actual results to differ materially from expected and historical results.
Endo assumes no obligation to publicly update any forward-looking statements,
whether as a result of new information, future developments or otherwise,
except as may be required under applicable securities law.
Contact: Investors/Media: Blaine Davis, +353-1-669-6635, (484) 219-7158;
Investors: Jonathan Neely, (484) 216-6645
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