Endo Pharmaceuticals announced today the completion of its
acquisition of Qualitest Pharmaceuticals. Endo announced Sept. 28 that it
entered into a definitive agreement to acquire Qualitest Pharmaceuticals, a
leading, privately held generics company in the U.S., for approximately $1.2
billion in cash.

“This acquisition marks another milestone in the
transformation of Endo and accelerates our stated strategy of building a
diversified healthcare company, better able to respond to the changing
economics that drive the U.S.
healthcare environment,” said Dave Holveck, president and CEO of Endo.
“We believe this transaction provides Endo with an enhanced competitive
position and critical mass in the generics market, further diversifying our
business lines and product offerings and enhancing our portfolio of pain
management products. When combined with our growing Branded Pharmaceuticals and
Devices and Services businesses, we believe this transaction not only significantly
boosts our revenue and earnings growth but also makes us a more comprehensive
healthcare solutions provider.”