Continuing its pursuit of growth by acquisition, Endo International has agreed to buy privately held Par Pharmaceutical for US$8.05 B, including the assumption of Par debt. The deal will strengthen Endo’s generic drugs business, giving it a top 5 position in the US generics market by sales, and comes only 2 months after the company was outbid by Valeant Pharmaceuticals International in its pursuit of Salix Pharmaceuticals. The transaction provides a profitable exit for private equity firm TPG, which took Par private in 2012 in a US$1.9 B deal.