In a move set to reshape the Canadian pharmaceutical landscape, Knight Therapeutics Inc. has agreed to acquire Paladin Pharma from Endo Inc. for up to $99 million. The transaction, announced Tuesday, underscores Knight’s aggressive expansion strategy, further cementing its dominance in Canada and Latin America.
The deal, which includes an upfront cash payment of $84 million, also features an additional $15 million in milestone-based payments, dependent on performance metrics, according to Knight’s official statement.
A Strategic Divestiture for Endo
For Endo Inc., the sale represents a pivotal shift in its corporate strategy. The company, known for developing life-enhancing therapies, is streamlining its focus on core growth assets, with Paladin’s divestiture serving as a key milestone in that transformation.
“This divestiture is an important step forward in our strategic transformation,” said Scott Hirsch, interim CEO of Endo. “We are confident that Paladin is positioned for continued success in the Canadian market, and Knight is the ideal partner to drive its next phase of growth.”
Endo’s decision to offload Paladin is part of a broader restructuring initiative, aligning its portfolio with high-value, high-growth therapeutic areas.
