Endo Sells Its Men's, Prostate Health Businesses To Boston Scientific

Endo International announced on Monday an agreement to sell its men's and prostate health businesses to Boston Scientific for $1.65 billion. The deal is expected to close in the third quarter. Endo will also eligible to receive a $50 million milestone payment if Boston Scientific can achieve certain revenue milestones in the businesses in 2016. Endo also said it was evaluating strategic alternatives for its women's health business. Endo's and Boston Scientific's stocks, which weren't active in premarket trade, have rallied 21% and 31%, respectively, in the past three months, while the S&P 500 has gained 1.8%.