Endo International plc announced that its subsidiary Endo Ventures Limited (EVL) acquired six development-stage, ready-to-use injectable product candidates from Nevakar Injectables Inc., a subsidiary of Nevakar, Inc.
“These six product candidates that would be used in critical care settings meaningfully expand Endo’s ready-to-use injectable product pipeline,” said Scott Sims, Senior Vice President and General Manager, Injectable Solutions & Generics at Endo. “We look forward to further developing and bringing these durable and differentiated products to market—and to the healthcare providers and patients who need them.”
The product candidates are in various stages of development, with the first launch expected in 2025. With the acquisition, Endo controls all remaining development, approval, launch and commercialization activities for these product candidates. Endo’s Par Sterile Products business will commercialize the products in the United States.
Under the terms of the agreement, EVL purchased the six product candidates from Nevakar Injectables for a one-time payment of $35 million. The one-time payment is expected to be expensed immediately in the second quarter as acquired in-process research and development costs. This acquisition is separate from Endo’s previously announced exclusive licensing agreement with Nevakar.
Ready-to-use, or RTU, products help streamline operations for hospitals by eliminating the need to prepare or transfer the product before patient administration. This may reduce waste and costs, optimize convenience and workflow and reduce the chance for preparation error—all of which support quality patient care.