The Associated Press reports that suburban Philadelphia-based Endo Pharmaceuticals is expanding its product line by purchasing American Medical Systems, a Minnesota company that makes medical devices and urological therapies.
In recent years Endo, of Chadds Ford, Pa., has diversified its focus from pain drugs to include generic drugs and medical devices. The company reported $1.72 billion in revenue in 2010, with $783 million — or 45 percent— coming from sales of the Lidoderm pain patch. But the patents supporting Lidoderm will begin to expire in 2015, and Endo says it is transforming from a drug company into a health care company.
Endo said it will get about 30 percent of its revenue from medical devices after acquiring American Medical Systems, and will do more business outside the U.S. Lidoderm will also bring in about 30 percent of its revenue, Endo said.
The deal is Endo's fourth in less than a year. Last July it acquired urology company HealthTronics for $223 million, and bought Penwest Pharmaceuticals in November for $144 million.
Original source: Associated Press
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