The Miami Herald / Associated Press, November 6, 2013
Endo Health will spend about $1.5 billion to buy the Canadian specialty drug maker Paladin Labs, and both will then be folded into a newly-formed Irish holding company. Endo also posted better-than-expected third-quarter results Tuesday and issued strong profit guidance for the year. Endo shares soared 20 percent $45.35 in premarket trading. Endo wants to accelerate its expansion at home and abroad and the acquisition of Paladin is expected to immediately boost profit in 2014. Cost savings related to the acquisition are expected to total at least $75 million a year, Endo said.