Endo International PLC has finalized the divestiture of Litha Healthcare Group to Acino Pharma AG.
Litha is Endo's South African operation and the divestiture took place after Endo announced in February that the company no longer reflected its values. Extensive assessment and asset review confirmed what Endo announced.
Endo has received $100 million at closing and may be able to receive $11 million more in assets from Litha.
Endo has been focused on formulating generics and delivering excellent medication through superior development, manufacturing and commercialization systems.
"Litha has a talented team and we appreciate all the contributions they have made to our Company," Endo President and CEO Paul Campanelli said. "We believe that Acino's presence in emerging markets makes Litha a good addition to their organization and we wish them both continued success."
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