Drug firm acquired for $225M

Coral Springs company makes specialty generics

Boca Pharmacal, which makes generic drugs in Coral Springs, has agreed to be acquired for $225 million in cash by a subsidiary of Endo Health Solutions, a Pennsylvania-based company.

Endo’s Qualitest subsidiary, which it acquired in 2010, would be the entity buying Boca Pharmacal. The acquisition is expected to enhance Qualitest’s pipeline of specialty health care products, Endo said in a news release onWednesday.

Qualitest Pharmaceuticals operates three plants in Huntsville, Ala., and one in Charlotte, N.C., according to itswebsite.

“The acquisition of Boca Pharmacal is the first of several transactions we plan.”

Rajiv De Silva, president and CEO of Endo Health Solutions

“The acquisition of Boca Pharmacal is the first of several transactions we plan to execute aswe transform Endo into a more-focused specialty health care company,” said RajivDeSilva, president andCEOof Endo.

Boca Pharmacal Chief Executive Bob Edwards Jr. didn’t return calls on Wednesday seeking his commentonthe transaction.

Endo said it is anticipating Boca Pharmacal will generate $50 million in revenues for 2013.

Boca Pharmacal, founded in 1998, specializes in niche products overlooked by larger generic drug companies. The company produces a generic for Xanex and other controlled substances as well as prenatal vitamins and other tablets, capsules and liquid pharmaceuticals.

In 2012, Boca Pharmacal received FDA approval to produce the generic version of King Pharmaceuticals’ Tapazole Methimazole tablets, used to treat hyperthyroidism.

Boca Pharmacal’s product line is marketed to chains, wholesalers, distributors, managed markets and government agencies.

Endo Health, a public company whose stock is traded on Nasdaq, posted 2012 revenues of $3 billion compared with $2.7 billion in 2011.