Pain-management drugmaker Endo Pharmaceuticals, Chadds Ford, Pa., has agreed to acquire the urology and endocrinology drugmaker Indevus Pharmaceuticals, Lexington, Mass., for an upfront cash payment of $370 million, according to a news release.
The deal also calls for Endo to pay Indevus shareholders an additional $267 million in future cash considerations provided certain regulatory and sales milestones are met. Both company boards have backed the deal, but it still needs shareholder and regulatory approval. Endo expects the acquisition to be dilutive to the companys 2009 earnings. -- by Shawn Rhea