En­do pays $658M in a fur­ther bet on col­la­gen-based med­i­cines, buy­ing out long­time bio­phar­ma part­ner

A lit­tle less than two years af­ter En­do Phar­ma­ceu­ti­cals’ deal to pur­chase Som­er­set Ther­a­peu­tics fell through, the Irish drug­mak­er is re­turn­ing to the well with a much big­ger ac­qui­si­tion.

En­do has agreed to buy BioSpecifics Tech­nolo­gies for a whop­ping $658 mil­lion, the two com­pa­nies an­nounced Mon­day, in the cul­mi­na­tion of a re­search agree­ment signed all the way back in 2004. En­do will pur­chase all of BioSpecifics’ out­stand­ing stock for about $540 mil­lion, valu­ing the com­pa­ny at $88.50 per share — a 45% pre­mi­um on the $61.02 share price at which the com­pa­ny closed on Fri­day.

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