Par Pharmaceutical In Ramapo Bought By Endo International

Par Pharmaceutical, a private pharmaceutical company with a research, development, and manufacturing location in Chestnut Ridge and a distribution center in Montebello, has been bought by Endo International for $8.05 billion dollars. Par posted a 2014 total revenue of $1.31 billion with 1,600 employees. In a statement released by Endo International, the resulting company will create a specialty pharmaceutical company that will be among the top five in the U.S. President and CEO of Endo, Rajiv De Silva expressed approval for the strategy for revenue growth in this acquision. “This transaction with Par builds upon our generics growth, adding a strong portfolio of high barrier-to-entry and attractive gross margin products while also transforming Endo, creating a powerful corporate platform for future growth and strategic M&A.” The transaction will close by the end of this year and awaits regulatory approval.