Montreal-based Knight Therapeutics has galloped in with CAD $120 million ($84 million) to pick up Endo’s Paladin Pharma unit in a move that stands to significantly expand its Canadian business.

The deal is expected to close in the middle of this year after clearing regulatory hurdles in Canada, according to a March 11 press release. Not only does it “significantly increase” the size of Knight’s Canadian business, but the buyout adds a clutch of “stable cash flow generating” medicines to help fund the company’s growth across Canada and Latin America, Knight CEO Samira Sakhia added the release.

Knight said it will pay CAD $120 million ($84 million) in an upfront payment. In addition, it could be on the hook to pay up to $15 million in future contingent payments based on the Paladin business reaching "certain sales milestones."

Since its founding in 2014, Knight has invested hundreds of millions of dollars to build out its pan-American platform, the company said last year. Its team of Knights is made up of about 700 employees stationed across Canada and 10 countries in Latin America.

Paladin, meanwhile, garnered revenues of CAD $70 million in 2024, according to Knight. The number doesn't include products that the company is in the process of discontinuing or has already stopped selling.

Endo first picked up 29-year-old generic and specialty drugmaker Paladin in a 2013 deal worth $1.6 billion. Knight Therapeutics itself formed as part of the Endo-Paladin transaction, a 2013 press release shows.

"This divestiture is an important step forward in our strategic transformation and focus on investing in our core-growth assets," Endo's interim CEO Scott Hirsch said in a statement. "We are confident that Paladin is well positioned for continued success in the Canadian market and that Knight Therapeutics is the right partner for Paladin's next chapter."