September 29, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Endo Pharmaceuticals (NASDAQ: ENDP) said that it has entered into a definitive agreement to acquire Qualitest Pharmaceuticals, a privately-held generics company in the U.S., for around $1.2 billion in cash.

Qualitest has cGMP facilities in the U.S. including the ability to manufacture controlled substances, which make up around 40 percent of its product portfolio, and liquids, which are roughly 17 percent of its portfolio.

The company brings a range of generics to Endo encompassing 175 product families.

Endo said it believes Qualitest brings critical mass to Endo's current generics business, further diversifies its business lines and product offerings and enhances Endo's portfolio of pain management products.

Endo added that it is acquiring Qualitest Pharmaceuticals from funds advised by Apax Partners, one of the world's leading private equity investment groups.

The company reiterated its 2010 revenue guidance of between $1.63 billion and $1.68 billion dollars and full-year adjusted diluted earnings per share to be between $3.30 to $3.35 per share.

Pennsylvania-based Endo Pharmaceuticals is a specialty healthcare solutions company, focused on branded products and specialty generics.

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