Endo Pharmaceuticals Sells Drug Discovery Platform to AsanaBioSciences
Drugmaker Endo International said Monday that its subsidiary, Endo Pharmaceuticals has finalized the sale of its branded drug discovery platform to AsanaBioSciences, an independent affiliate of the Amneal Alliance of Companies.
The deal includes an undisclosed upfront payment, along with milestone payments on the achievement of certain development objectives, Endo said. The sale includes multiple early-stage oncology, pain and inflammation drug discovery and development candidates.
"The sale of the early stage discovery platform is another step in the transformation of Endo," Rajiv De Silva, president and CEO of Endo said in a statement. "We continue to make progress against the strategic objectives we set forth in 2013 and remain enthusiastic about what lies ahead for Endo.”
Endo develops, manufactures, markets and distributes pharmaceutical and device products through its operating companies: Endo Pharmaceuticals, AMS, Qualitest, and Paladin Labs. The company’s U.S. headquarters is in Malvern, Penn. — Kellen Owings
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