DUBLIN, July 24, 2014 /PRNewswire/ --
- Advances Endo's transformation into a leading global specialty healthcare company
- Establishes a platform for growth in key Latin American emerging markets
- Norbert Oppitz appointed Regional President, Latin America, Africa and Export Markets
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.
SOURCE Endo International plc