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Endo Pharma sets aside $500m for cancer, urology products acquisition

Pennsylvania-based Endo Pharmaceuticals, a manufacturer of tamper-proof pain pills, said it has $500m budget for the acquisition of companies that provide health information technology and diagnostic tools for cancer and urology.

According to data compiled by Bloomberg, Endo Pharmaceuticals has completed six deals in the past five years, with an average size of $352.8m and a typical premium of 49%.

In May 2010, the company showed interest to acquire urologic lab services and devices provider HealthTronics for $223m.

Endo Pharmaceuticals also agreed to acquire US-based generic drug manufacturer Qualitest Pharmaceuticals in September 2010 for about $1.2bn from PE firm Apax Partners.