Knight Therapeutics Inc., a Montréal-based pan-American (ex-US) specialty pharmaceutical company listed on the Toronto Stock Exchange, has completed its acquisition of the Paladin business from Paladin Pharma Inc., an operating company of Endo, Inc. The transaction was structured as an asset purchase under a definitive Asset Purchase Agreement entered with Endo Operations Limited and Paladin Pharma Inc. The acquisition adds a portfolio of established, cash flow-generating pharmaceutical products to Knight's Canadian operations and is intended to increase the scale of its Canadian business while helping fund growth in Canada and Latin America. In 2024, Paladin generated revenues of $70 million, excluding products it had stopped commercializing or was in the process of discontinuing. The transaction carries additional personal and corporate significance for Knight, as Jonathan Ross Goodman, Knight's Executive Chairman, co-founded Paladin, and Knight's President and Chief Executive Officer, Samira Sakhia, previously served as Paladin's chief financial officer. Under the agreement, Knight agreed to an upfront payment of $120 million in cash, including inventory valued at $20 million, with future contingent payments of up to US$15 million payable upon achieving certain sales milestones. On closing, Knight paid approximately $107 million in cash, including $22.3 million for inventory, reduced by a holdback of $15.4 million.