ENDO INTERNATIONAL PLC (Exact Name of Registrant As Specified in Its Charter)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

FORM 8-K

CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of the earliest event reported): May 18, 2015

ENDO INTERNATIONAL PLC (Exact name of registrant as specified in its charter)

Ireland 001-36326 Not Applicable (State or other jurisdiction of (Commission (I.R.S Employer incorporation or organization) File Number) Identification No.)

First Floor, Minerva House, Simmonscourt Road, Ballsbridge, Dublin 4, Ireland Not Applicable (Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code 011-353-1-268-2000

Not Applicable Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events On May 18, 2015, Endo International plc, a public limited company incorporated under the laws of Ireland (the “Company”), issued a joint press release with Par Pharmaceutical Holdings, Inc., a Delaware corporation (“Par”), announcing that the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Par, Endo Limited, a public limited company incorporated under the laws of Ireland, Endo Health Solutions Inc., a Delaware Corporation, Banyuls Limited, a private limited company incorporated under the laws of Ireland (“Buyer”), Hawk Acquisition ULC, a Bermudian unlimited liability company (“Merger Sub”) and Shareholder Representative Services LLC, a Colorado limited liability company, solely as the Stakeholder Representative (as defined in the Merger Agreement), pursuant to which Merger Sub will merge with and into Par (the “Merger”), with Par surviving the Merger as a wholly owned subsidiary of Buyer. A copy of the joint press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. In addition, the Company provided supplemental information regarding the Merger in connection with a presentation to investors. A copy of the presentation is attached hereto as Exhibit 99.2 and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number Description 99.1 Joint Press Release, dated May 18, 2015, of Endo International plc and Par Pharmaceutical Holdings, Inc. 99.2 Investor Presentation of Endo International plc, dated May 18, 2015.

2 SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ENDO INTERNATIONAL PLC

Date: May 18, 2015 By: /s/ Matthew J. Maletta Name: Matthew J. Maletta Title: Executive Vice President, Chief Legal Officer EXHIBIT INDEX

FOR IMMEDIATE RELEASE

Endo to Acquire Par Pharmaceutical, Strategically Expanding Generics Business to a Top 5 Industry Leader

- Transaction valued at $8.05 billion is transformative for Endo, creating a powerful platform for future growth and further strategic M&A - Creates specialty pharmaceutical company with one of industry’s fastest growing generics businesses and expanded product portfolio, pipeline, technology platform and manufacturing capabilities - Positions Endo for long-term double-digit organic growth, strong cash flow and financial flexibility - Accretive to non-GAAP diluted earnings per share within first 12 months with double-digit accretion to non-GAAP diluted earnings per share expected in 2016 - Projected total operational and tax synergies of $175 million while strategically maintaining R&D - Par CEO Paul Campanelli to join Endo to lead generics business and join Executive Leadership Team - Closing anticipated in 2H 2015

DUBLIN and WOODCLIFF LAKE, NJ, MAY 18, 2015 -- Endo International plc (NASDAQ: ENDP) (TSX: ENL) and Par Pharmaceutical Holdings, Inc. today announced that they have entered into a definitive agreement under which Endo will acquire privately-held Par from TPG in a transaction valued at $8.05 billion, including assumption of Par debt. The combination will create a leading specialty pharmaceutical company with a generics business that is one of the industry’s fastest growing and among the top five as measured by U.S. sales. It is also expected to help drive long-term double-digit revenue growth for Endo. The transaction has been unanimously approved by the Boards of Directors of Endo and Par, and is supported by the management teams of both companies. There are no further shareholder approvals required. The purchase price will consist of approximately 18 million shares ($1.55 billion of value based on the 10-day volume weighted average share price of Endo ending on May 15, 2015) of Endo equity and $6.50 billion cash consideration to Par shareholders. Endo has secured fully committed financing from Deutsche Bank and Barclays to fund the cash consideration. Endo expects to implement a permanent capital structure to finance the transaction prior to the close that would include a combination of cash, debt and an equity offering. “Our generics business, Qualitest, continues to be an extremely attractive and effective growth driver for Endo. This transaction with Par builds upon our generics growth, adding a strong portfolio of high barrier-to-entry and attractive gross margin products while also transforming Endo, creating a powerful corporate platform for future growth and strategic M&A,” said Rajiv De Silva, President and CEO of Endo. “We believe the acquisition of Par underscores the continued execution of Endo’s value-driven M&A strategy and helps deliver on our goal of achieving double-digit revenue growth for the overall business over the long-term. We are also excited to welcome Paul Campanelli to the Endo leadership team. With more than 25 years of experience in the generics industry and nearly 15 years at Par, Paul has demonstrated a clear track record of success in innovation and strategic management in specialty generics.”

“This is an exciting time of growth and opportunity in the generics and specialty pharmaceutical arenas. Par Pharmaceutical is committed to significantly expanding our scope, capacity and capabilities to realize the maximum value of our rich and diversified product portfolio and R&D pipeline. We believe our combination with Endo best positions us to do so,” said Mr. Campanelli, CEO of Par Pharmaceutical. “We share Endo’s goal of developing and commercializing generic drugs in areas of greatest revenue potential, complex formulations and longer life cycles. I look forward to joining the Endo team and working together to achieve that goal.”

Par Pharmaceutical is a privately-held company that was acquired through a take-private transaction by an affiliate of TPG in 2012.

“Over the last three years, we have enjoyed partnering with the Par team to create a more diversified company with expanded capabilities, an enhanced product pipeline and more robust business development opportunities, all resulting in significant growth,” said Todd Sisitsky, managing partner of TPG Capital North America. “The success of Par, in part, reflects our continued focus and operational expertise in the growing healthcare industry. It has been a pleasure to invest in such a great company and support Par’s outstanding management team as they have grown and diversified their business. As part of Endo, Par will be well-positioned to drive future growth and we look forward to continuing to participate in the company’s next chapter of success.”

Strategic Benefits Strongly Position Endo for Future Growth and Value Creation

• Acquisition Reshapes Generic Pharmaceuticals Landscape While Transforming Endo’s Platform for Future Growth With the addition of Par’s product portfolio and R&D pipeline, Endo’s already rapidly growing generics business unit is expected to become one of the largest and fastest growing in the industry, with double-digit revenue growth over the long- term and a broad product pipeline. The Par portfolio includes nearly 100 products in multiple dosage forms and delivery systems, including oral solids, oral suspensions, injectables and high barrier-to-entry products. This portfolio is highly profitable with increasing adjusted gross margins. The transaction is also expected to help drive double-digit growth for Endo’s overall business, expanding the company’s corporate scope, size and future M&A potential.

• R&D Pipeline Provides Attractive Long-Term Opportunity Par offers a solid pipeline consisting of more than 200 Abbreviated New Drug Applications (ANDAs), 115 of which were filed with the U.S. Food and Drug Administration (FDA) as of December 31, 2014. Approximately 33 percent of the filed ANDAs are potential first-to-file or first-to-market opportunities and 75 percent of the overall development portfolio consists of Paragraph IV and first-to-file programs – all of which could provide a period of market exclusivity if approved. It is expected that the Par R&D pipeline could generate approximately 20 to 25 ANDA filings each year in 2015, 2016 and 2017.

• Significant Operational & Tax Synergies Given the complementary nature of the companies’ generics portfolios and operations, Endo estimates the transaction will generate $175 million in operational and tax synergies that are expected to be realized within the first 12 months following the completion of the transaction, while strategically preserving investment in the R&D pipeline to help drive long-term organic growth. • Strong Financial Profile Drives Shareholder Value Following the transaction’s completion, Endo expects to have an even stronger financial profile with enhanced cash flow and improved financial flexibility to continue to execute on its corporate strategy. The transaction is expected to be accretive to adjusted diluted earnings per share (EPS) within the first 12 months after transaction close and result in double-digit accretion to adjusted diluted EPS in full year 2016. For 2016, Endo anticipates that EBITDA generated by Par will translate into a transaction multiple of approximately 10 to 11 times pro forma adjusted EBITDA on a post-synergized basis.

• Continued Execution and Development of Leadership Team Position Endo to Achieve Corporate Goals Endo continues to deliver on its corporate strategy to build a leading global specialty pharmaceutical company and, ultimately, improving lives while creating value. This acquisition moves the company forward in its focus on maximizing the value of each of its core businesses, participating in business areas that offer significant growth and favorable margins and transforming its operating model to maximize growth potential and cash flow generation. It also adds to the leadership team at Endo, bringing the proven experience and expertise of Mr. Campanelli to lead and grow the company’s generics business.

• Robust Cash Flow Generation and Prudent Financing Structure Provides for Rapid De-Levering Endo anticipates that the transaction’s expected financing structure will consist of approximately 18 million Endo shares ($1.55 billion in value based on the 10-day volume weighted average share price of Endo ending on May 15, 2015) and $6.50 billion in cash consideration to Par shareholders. Endo has secured fully committed financing from Deutsche Bank and Barclays and intends to fund the cash consideration through a combination of cash, debt and an equity offering. This financing combination provides the ability for Endo to rapidly de-lever back to the three to four times net debt to EBITDA range in the 12 to 18 months following the close of the transaction. The structure also allows for future financial flexibility and continued execution of Endo’s M&A strategy. The transaction is expected to close in the second half of 2015 and is subject to regulatory approval in the U.S. and certain other jurisdictions, as well as other customary closing conditions.

Advisors Barclays, Deutsche Bank, and Houlihan Lokey acted as financial advisors to Endo. JP Morgan acted as financial advisor to Par and its shareholders. Skadden, Arps, Slate, Meagher & Flom, LLP were Endo’s legal advisors and Ropes & Gray, LLP acted as legal advisors to Par and its shareholders.

Conference Call and Webcast Endo and Par executives will host a conference call at 8:30 AM ET to discuss today’s announcement. The conference call can be accessed by dialing (866) 497-0462 (U.S. dial-in) or (678) 509-7598 (international dial-in) and the passcode is 50504381. A replay of the call will be available from May 18, 2015 at 12:30 PM ET until 11:59 PM ET on June 1, 2015 by dialing (855) 859-2056 (U.S./Canada) or (404) 537-3406 (international) and by entering the passcode 50504381. Accompanying slides will be available on Endo’s website. Endo will webcast the call to all interested parties through its website: www.endo.com.

About Endo International plc Endo International plc is a global specialty pharmaceutical company focused on improving patients’ lives while creating shareholder value. Endo develops, manufactures, markets and distributes quality branded pharmaceutical and generic pharmaceutical products as well as over-the-counter medications though its operating companies. Endo has global headquarters in Dublin, Ireland, and U.S. headquarters in Malvern, PA. Learn more at www.endo.com. About Par Pharmaceutical Holdings, Inc. Par is a specialty pharmaceutical company that develops, manufactures and markets safe, innovative and cost-effective pharmaceuticals that help improve patient quality of life. Par Pharmaceutical offers a line of high-barrier-to-entry generic drugs, while Par Specialty Pharmaceuticals provides niche, innovative brands. Par Sterile Products develops, manufactures and markets both branded and generic aseptic injectable pharmaceuticals. For press release and other company information, visit www.parpharm.com.

About TPG TPG is a leading global private investment firm founded in 1992 with over $67 billion of assets under management and offices in San Francisco, Fort Worth, Austin, Dallas, Houston, New York, Beijing, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, São Paulo, Shanghai, Singapore and Tokyo. TPG has extensive experience with global public and private investments executed through leveraged buyouts, recapitalizations, spinouts, growth investments, joint ventures and restructurings. The firm has a strong history of healthcare investing and its well-known investments include Aptalis, EnvisionRX, Fenwal, Healthscope, IASIS Healthcare, Immucor, IMS Health, Quintiles Transnational and Surgical Care Affiliates, among others. For more information visit www.tpg.com.

This press release does not constitute an offer to sell securities.

Forward Looking Statements This press release contains “forward-looking statements” relating to the acquisition of Par by Endo. All statements other than historical facts included in this press release, including, but not limited to, the statements by Mr. De Silva, Mr. Campanelli and Mr. Sisitsky, and other statements regarding the timing and the closing of the transaction, the expected benefits of the transaction, the expected accretion to earnings resulting from the transaction, expected product approvals, Endo’s plans to operate Par and any assumptions underlying any of the foregoing, are forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown, or unknown risks or uncertainties materialize, actual results could vary materially from Endo’s expectations and projections. Risks and uncertainties include, among other things, uncertainties as to the timing of the acquisition; the possibility that various closing conditions to the transaction may not be satisfied or waived, including that a governmental entity may prohibit, delay, or refuse to grant approval for the consummation of the transaction; that the FDA or other regulatory authorities do not approve any product(s) in the manner desired by Endo on a timely basis, or at all; that there is a material adverse change to Par; that the integration of Par’s business into Endo is not as successful as expected; the failure of Endo to achieve the expected financial and commercial results from the transaction; other business effects, including effects of industry, economic or political conditions outside Endo’s control; transaction costs; the outcome of litigation, actual or contingent liabilities; as well as other cautionary statements contained elsewhere herein and in Endo’s periodic reports filed with the SEC and Canadian securities regulators, including current reports on Form 8-K, quarterly reports on Form 10-Q and annual reports on Form 10-K. Given these uncertainties, you should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. Endo expressly disclaims any intent or obligation to update these forward-looking statements except as required by law. Additional information about Endo is available at www.endo.com or you can contact the Endo Investor Relations Department by calling 484-216-0000. Additional information about Par is available at www.parpharm.com.

Regulation G Reconciliation This press release references EBITDA, Non-GAAP diluted earnings per share and adjusted gross margin, which are financial measures that are not prepared in conformity with accounting principles generally accepted in the United States (GAAP). We refer to such measures as non-GAAP financial measures. We define EBITDA as net income before interest, taxes, depreciation and amortization. We define Non-GAAP diluted earnings per share as earnings per share attributable to Endo as calculated under GAAP, as adjusted to remove the effects of (1) certain upfront and milestone payments to partners; (2) acquisition-related and integration items, including transaction costs, earn-out payments or adjustments; (3) changes in the fair value of contingent consideration and bridge financing costs; (4) cost reduction and integration- related initiatives such as separation benefits, retention payments, other exit costs and certain costs associated with integrating an acquired company’s operations; (5) excess costs that will be eliminated pursuant to integration plans; (6) asset impairment charges; (7)amortization of intangible assets; (8) inventory step-up recorded as part of our acquisitions; (9) non-cash interest expense; (10) litigation- related and other contingent matters; (11) gains or losses from early termination of debt and hedging activities; (12) foreign currency gains or losses on intercompany financing arrangements; (13) and certain other items that the we believe do not reflect our core operating performance; (14) the cash tax savings from acquired tax attributes; (15) the tax effect of the pre-tax adjustments above at applicable tax rates and certain other tax items. We define adjusted gross margin as total revenues, less cost of revenues, adjusted for amortization of intangible assets; certain upfront and milestone payments to partners; certain cost reduction and integration-related initiatives; inventory step-up recorded as part of our acquisitions; certain excess costs that will be eliminated pursuant to integration plans and certain other items that we believe do not reflect our core operating performance.

Our presentation of EBITDA, Non-GAAP earnings per share and adjusted gross margin may be different from non-GAAP financial measures presented by other companies. We believe that our presentation of non-GAAP financial measures provides useful supplementary information regarding operational performance because it enhances an investor’s overall understanding of the financial performance and prospects for future core business activities by providing a basis for the comparison of results of core business operations between current, past and future periods. Management uses non-GAAP financial measures to prepare operating budgets and forecasts and to measure performance against those budgets and forecasts on a corporate and segment level. Endo also uses non- GAAP financial measures for evaluating management performance for compensation purposes. We have not provided quantitative reconciliations of projected EBITDA, Adjusted earnings per share or adjusted gross margin because not all of the information necessary for quantitative reconciliation is available to us at this time without unreasonable efforts. This is due primarily to variability and difficulty in making accurate detailed forecasts and projections. Accordingly, we do not believe that reconciling information for such projected figures would be meaningful. Endo Contacts: Investors/Media: Keri P. Mattox, (484) 216-7912 Investors: Jonathan Neely, (484) 216-6645 Media: Heather Zoumas-Lubeski, (484) 216-6829

Par Pharmaceutical Contact: Steven Mock, (201) 802-4033

TPG Contact: Media: Luke Barrett, (212) 601-4752

Media Contacts: Joele Frank, Joele Frank, Wilkinson, Brimmer, Katcher, (212) 355 4449 Andy Brimmer, Jo Joele Frank, Wilkinson, Brimmer, Katcher, (212) 895-8611

# # # Exhibit 99.2

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Par Pharmaceutical Acquisition: Overview $E1n.d5o5 tboi lalcioqnu iirne peqriuviattye ltyo- hPealrd sPhaarr efhoor l$d8er.s05 billion F$6u.l5ly b cilolmiomn ictatsehd cfionnasnicdienrgat iforonm Barclays and Deutsche Bank CExrepaetcetse dle taod ibneg fsipneacnicaeldty b pyh caormabcienuattiicoanl ocof mcapsahn, yt ewrmit hl otaonps f,i vbeo ngdesn earnicds a bnu esqinueitsys oasff emrienags uorfe d~ $b1y. 5U t.oS .$ s2a lbeisl1lion U20n1a4n ipmroo ufoslrym aap rpervoevneude sb yo fb $o4th.2 c obmillpioanies’ Boards of Directors EPxarp eCcEteOd tPoa uclo Csea minp 2anHe l2li0 1jo5i,n su Ebnjedcot to rlegadu lGateonryer iacnsd b outshienre scsustomary closing conditions 1N oS osuhracre:h oIMldSer Hapepalrtohv aLlTs Mreq ausi roefd 10/31/14 3©2015 Endo Pharmaceuticals Inc. All rights reserved.

Par Acquisition: Significant Value Creation C• aDpiavbeirlsiitfiieess product portfolio and R&D pipeline G• rEoxwptahn d•s A mccarneutifvacet utori nexgi satnidn gt egcrhonwotlho gpyr ocfailpea:b eixliptieecsted to drive double-digit organic growth •P rEoPfiSle: •e xRpeevcte naudej:u sdtoeudb dleil-udtiegdit ECPASG toR gfroorw p rfoa sftoerrm tha arne vrenvuene uiens the near- to mid-term •A Occpreetriaotino n• aAl cacnrde ttiavxe stoy naedrjguisetse do fd $il1u7t5ed m EiPllSio nwithin first 12 months with double-digit accretion to adjusted diluted EPS in 2016 •S ySnterargteigesically preserving R&D pipeline T• rTanrasnascaticotino no nm au pltoipstl-es yonf e1r0g-y1 1bxas 2is016 adjusted pro forma EBITDA •M Eunltaibpllees • d Ae-nletviceirpinatge troe tau rpnrso jwecetlel di n3 -e4xxc ensest odfe cbot stto o Ef BcaIpTiDtaAl in 12-18 months ©4 2015 Endo Pharmaceuticals Inc. All rights reserved.

Compelling Strategic & Financial Rationale AStdrdatse gexictaelnlsyi veex prandgse porfo ddouscatg pe ofrotrfmolsio a, nRd& dDel ipviepryel isnyes,t ecmapsa bFiolictuiess o ann dsp leocniagl-itzeerdm, mgraorwketht lderaidvienrgs products Doesuibglnee-di gtoit arcecveelenruaet eg Eronwdoth g irno wmtihd:-term, accretive to adjusted diluted EPS, meaningful synergies, increased generics adjusted gross margins Strong R&D pipeline capable of fueling long-term organic growth SDtrriovnegs sctarsahte fgliocw e xepxapnescitoend otof olevaedr atlol craoprpido rdaete-l epvroerfiinleg, bscaockp et,o a 3n-d4 xs inzee,t edsetbatb ltios hEiBngIT aD pAo wine r1fu2l- 1p8la mtfoornmth fsor future M&A CArleiganteesd swhairtehh Eolnddeor ’vs aslturea taengdy dorfi vpeusr sbueinegf iatcsc froetri vpea,t ivenaltus e&-c rceuatsitnogm gerroswth opportunities ©5 2015 Endo Pharmaceuticals Inc. All rights reserved.

Transaction Aligns with Endo’s Strategic Direction FBouciulds ao nle madaixnigm gilzoinbgal tshpee cviaallutey opfh aeramcha coefu otiucra lc ocroem bpuasninyesses TPraarntiscfiopramte oinp esrpateicnigal tmy oadreeal st oo fmferaixnigm aizbeo vgero awvtehra pgoe tgenrotiwalt ha nadn dc afsahv ofrlaobwle g menaerrgaitniosn ICmopnrtoinvuineg o luirv ecso mwmhiiltem cerenatt itnog s evravliuneg our patients & customers @6 2015 Endo Pharmaceuticals Inc. All rights reserved.

Exnpdaon’sd eEdx Geceunteiorinc so pf lMatf&orAm Strategy Is Driving Value SEhxaprapnedneedd Gsternaeterigcisc pfolactufos romn pharmaceuticals IBnrta’lnded Generics ABuogca 2013 ASupmr 2a0v1el4 DosePro JDuAn V2A014 DAiMveSstiture Mar 2015 Q3 2015 close MPaary 2015 P2Hal a2d0i1n5 close ENsotva b2l0is1h3ed SEonmdoa’rs global presence SAtprer n2g0t1h4ened int’l platform OAcutx i2l0iu1m4 ARsepbeunil tP Borrtafnodlieod platform & pipeline TMranys 2fo0r1m5 QGx3 b2u0s1i5n ecslso;s eDrive long-term double-digit growth; expand corporate M&A platform ANdodtei:t iDonaatel st rraenpsraecsteinotn fsi risntc pluudbel:i cH aenanltohuTnrcoenmicesn tdsi voefs ttriatunrsea c(tJiaonnusary 2014), Natesto licensing (November 2014) 7©2015 Endo Pharmaceuticals Inc. All rights reserved.

Endo’s Vision: Leading Specialty Pharmaceutical Co. U.S. GBerannedriecds International Pharmaceuticals 8Transaction closed January 2015

UGSen Gereicn ePrihca rPmhaacremuati cMalasr:k Cetu (r$reBn)t Landscape 2102100 1A0 02 08101 6A0 24001 2A0 02013A 2014A 2015P 2016P ASugbinsgta nptoipalu lmatairoknet opportunity for growth of generic products U.S. generics market growth expected to be driven by: CRoegnusolaltiodrayti ofonc uans do nm iantucrreaatsioedn aocfc ceossm tpoe tdirtuogrs bheanveef iststa Rbiolilzee idn thea pltrhiccianreg ceonsvti rcoonnmtaeinmt Benast iIsn ocrfe caosimngp estcitriopnts schoinftvinergs itoon q vusa.l ibtyra,n rdeelida baitl i8t0y- 9an0d% specialized capabilities SBoeunrecfeit:i nPga rp alnayde rEsv waliutaht ecPohmamrmearcial, legal and entrepreneurial savvy Specialty generics growing faster as a segment and securing higher gross margin ©9 2015 Endo Pharmaceuticals Inc. All rights reserved.

Endo + Par: Creates a Top 5 Generics Player (U$. Sin. bIMillSio Gnse)n $er1i0cs Sales $05 P[1F] [2] SGoEuPrc[3e:] IMS Health LTM as of 10/31/14, Wall Street research. [21] Pro forma for acquisition of RPaarnbaxy 1[30] Pro form for acquisition of Hospira

About Qualitest MFoaunnudfeadct uinri n1g9 8F3a cAilciqtiueisr:e dH buyn tEsvnidlloe ,i nA 2L0 &10 CHheaardloqtutaer,t eNrsC: H1,u7n5t0s veimllep,l oAyLees SDtorounbgle vdoilguimt oer ggaronwict hg raocwrothss p bearfloanrmceadn cpeo ratnfodl ioou tolfo ookver 700 products PCiopnetlrionlel eodf saupbpsrtoaxnicmesa,t eslpye c9i0a lptyro ggernamerisc sS,t rLoinqgu iedxsp /e rsteisme ii-nso cloidnst,r oclolemdm suobdsityan gcenserics ©112015 Endo Pharmaceuticals Inc. All rights reserved.

FAobuonudt ePda irn P 1h9a7rm8aceutical MHeaanduqfuacatruterrisn:g W Foacoidlictliiefsf :L NakYe/,C NTJ, MI, CA and India 2,000 employees GPreinveartieclsy -:h aepldp rpohxa.r m95a cperuotdicuaclt sc owmitpha n2y1 5o peipraetliinnge ipnr otghrea mU.sS. as two business segments: BMrualntdipelde :d 2o saapgper ofovremd,s manadrk deteeldiv perryo dsuycsttsems with a focus on high barrier-to-entry products, Paragraph IV, first-to-file and first-to-market opportunities ©122015 Endo Pharmaceuticals Inc. All rights reserved.

2E.n7dmo s+f Pfoaor:t pBrirnota de sFtaabcliilsihtieess lFeaodoitnpgri ngtenerics player with capacity for additional growth 1E3ndo facility Par facility

Par: Evolution from 2012 to Today 20142 ARdevj.e nGureo s(s$ mPrmof)it Margin F# iolef dA MNaDrkAest oonp pFoirlteunity ($bn) $#1 o,0f 5T0e c4h7n%ol o8g5i e$s21bn $81,309 52% 115 $37bn 14

Par Today: High-Value, Long-Term Growth Products PFaorcaugsr aopfh c IoVre, bfiursitn-teos-sf iilse atntdra cfitrisvte- thoi-gmha-rvkaeltu eo pgpeonretruicnsities LSopvecaizaal®iz e(dc opmropdluexct sa ntdh adt iaffriec udlitf-ftiocu-slot utorc me AanPuIf)a cPtruercee danexd™/or (purneisqeunet cdoomsapglee xfo lremga) lL aunvdo rxe gCuRla®to r(yco cnhtarolllelnedg-erse,l eianscel updriondgu ctht)e Fgoecnaelriinc sX oRf: (controlled substance) MEmajpohriatsyi so of nP amr’asr ktoetp l1ea0d ginegn eprirco dduructgss by revenue are market leaders CSiugrnreifnitc apnrot dnuucmt bbears eo fi sp reoldauticvtesl yar em eoirteh eprr oexfictlaubsliev aen odr lhoanvgee rt-wliov eodr tfhewane rc ocommppeteittiotorsrs 1L5o vreagzais®te riesd a trreagdiesmtearrekd otrfa Jdaezmz aPrkh aormf GaclaexuotiScamlsi;t hFKolcianlei;n PXreRc eidse ax ™tra dise ma arrekg iosft eNreodv atrratidse mAGark of Hospira; Luvox CR® is a

GPaern eSrnicasp sEhxotte:n Edexdte Rndeeleda sRee (lEeaRse) Pmraordkuetc tssi zLee: a~d$e1r 0 billion1 PKaery i sm oanrkee ot fd trhivee lrasr:g Hesitg hsu bpaprlriers t oo fe EntRry p Droidffuiccutslt to manufacture I1n3 %20 1g4en, ePriacrs o EffRer emd a6rk oeft tshhea rteo fpo r1 0P aErR in m 2o0l1e4c1ules, with two more in development1 BKueyp rPoparr iEonR HpCrold uEcRts -a $n8d4 2m0 1P4r orepvaefennuoens ei nEcRlu d- e$:76m Lamotrigine ER - $41m Fluvoxamine ER - $24m 16 IMS data for year ended December 31, 2014

GPaern eSrnicasp sihnjoetc:t aInbjleecst ambalerks ePt rsoidzeu:c t~s$ D20ri vbiinllgio Gn1rowth PKaery i nmjeacrktaebt ldesri vcaeprsa:b Dilitfifeicsu rlatp tiod lmy aenxupfaancdtuinreg ;H gigohal rteog ublea tloerayd isncgru gtiennyeric injectables provider within 3-5 years Par iennjteecrteadb ltehse nmeta rrkeevte ninu e2s0 i1n4 2w0i1t4h: a~c$q1u4is0i tmioinl loiof nJHP Pharmaceuticals Currently markets 8 generics and 12 branded products 15 products filed and 20 more in development 17 IMS data for year ended December 31, 2014

Par hRa&s Da fSultlr astuegitye: oBf uhiilgdhin-vga lau He,i ghhig-Vh ablaurer iPeri ptoel iennetry product technologies in development, including: ~E6R0 %or aolf sfoileidds A InNjDecAtasb l(e1s1 5T otoptiacla)l sa rNe aaslatel rsnpartaivyes dOopshatghea lfmorimcss F~i7l0m%s of R&D pipeline (100 total) consists of alternative dosage forms, including: 1382 potential First-to-File opportunities 6 potential First-to-Market opportunities

TEencdhon +ol oPgayr: Expanded Internal Generics R&D Capabilities… ODreavl. PPrreo-g Craomnts-Oral Topical Nasal Ophth- Sterile +S oCliadp faibllielidt yP datecvhe lFopilme nAtP iIn rporlolecde sNsDA ANDA CRO Solid IR / Liquid Sprays almics Vials ER Syringe Subs ©192015 Endo Pharmaceuticals Inc. All rights reserved.

Endo F+i lPeadr :A …NDArivs e( 5a0 D) iversified R&D Engine 1P4a%r Filed ANDAs (115) 6% 28% 01 01%8% 108 0% 18% 1412% I2m9%mediate Release Extended Release Injectables Topical Sprays/Nasal/Subling Ophthal Film Other SoftGel O C’s Liquids ©202015 Endo Pharmaceuticals Inc. All rights reserved.

Endo P+r oP aFr:o r…mDa rFivilee da ADNivDerAsisf i(e1d6 R5)&D Engine OLiCqusids STofpti cGaelsls 2 5%% 4% 0% 0 2R%el eIamsemediate 1368% 8O%ther 2In5j%ectables RExetlenasdeed ©212015 Endo Pharmaceuticals Inc. All rights reserved.

Endo P+r oPgara: m…s Dinri vDee va eDloipvmerseinfti e(d5 2R)&D Engine DPaerv ePlroopgmraemnts (i1n00) 1>07%5% 4 %of Par Development programs are Paragraph IV / First-to-File 60% 6% 50% 2% 6% 107% 32% 257%% 5 9%% 25% 24% ©222015 Endo Pharmaceuticals Inc. All rights reserved.

Endo P+r oP aFr:o r…mDa rPivroeg ar aDmisv eirns iDfievde Rlo&pmDe Entn g(1in5e2) 3L%iquids Topicals 1S%ofFt iGlmelss 18% 1% 1O6p%hthalmic Release Sprays / 5% Nasal / 35% 3% Sublingual Other 5% 2In2j%ectables HExAteLnFd eodf Ralel lDeaesveelopment programs are Paragraph IV / First-to-File ©232015 Endo Pharmaceuticals Inc. All rights reserved.

NEnedt oR +ev Penaur:e sS (i$g0n0if0icsa) nPt rGo eFnoermicsa Growth Potential $02,500 $2,000 $1,500 $1,000 $500 P20a1r 1E n2d0o1 2( G2x0 1O3n 2ly0)14 (A$d0j0u0sst)e dP rGor oFsosr mMaargin 4$91%,400 $1,0200 4$78%00 $0600 $400 $200 P20a1r 1E n2d0o1 2( G2x0 1O3n 2ly0)14 SAoduj rGcer:o Csso Mmparagniine se’x SpEecCte dfi ltion ggsro, w20 f1ro1m-2 0h1i5gh 40s% to low to mid 50s%

FSiunmanmcianryg: Structure Provides Flexibility for Future M&A SAttrtorancgt icvaes hd ef-lloewve rlienagd sp tro frialepid de-levering $E8x.p0e5c tB tiol lbioen b Tacrka nisna ctthieo n3-4x net debt to EBIDTA range in 12-18 months C$1o.n5s5i dBeirlaltiioonn ECqounistiyd e$r6a.t5io0n Billion Cash PCaars hShareholders Term Loans ~B$o1n.d5s- $2B Equity Offering 2F5ully Committed Financing

Par Acquisition: Significant Value Creation ECxapanbdilsi tmiesa nDuifvacetrusirfiinegs apnrodd tueccth npolrotfgoyli oca apnadb iRlit&ieDs pipeline GArcocwrethiv oe rtgoa neixci sgtrionwg tghrowth profile: expected to drive double-digit EPProSfi:l ee xRpeevcte naudej:u sdtoedu bdliel-udtiegdi tE CPASG toR gfroorw p rfoa sftoerrm tha arne vrenvuene uiens the near - to mid-term Accretiovne tdoo uadbjlue-sdteigdi td ialcuctreedti oEnP Sto waidtjhuisnt efdir sdti l1u2t emd oEnPthSs iwn i2th016 Styrnaetergiecsa lOlyp peraetsieorvnianl ga nRd& taDx psyipneelrigniees of $175 million Transaction omnu alt ippolset -osfy 1n0er-g1y1 xb a2s0i1s6 adjusted pro forma EBITDA EMnualbtliepsle d Ae-nletivceirpiantge troet ua rpnrso wjeecltle di n3 -e4xxc ensest odfe cbot stto o Ef BcaIpTiDtaAl in 12-18 months ©262015 Endo Pharmaceuticals Inc. All rights reserved.

Summary: SEpnedco P+h Paramr:a AL aLnedasdcianpge Sbpye Ecinatletyrp Prihsea rVmaalcueeutical Co. $($1 0in0 b$i1l6li7o n$s1)03 $6725 $504 $3434 $28 $1225 $920 $08 P$6F 2S7ource: FactSet. Note: Market data as of 5/15/15.

Summary: CEnodmop +an Pyar: A Transformational Combination GSieznee raincds Scale G(2e0n1e4r)ics R&D LPoipnegl iTneerm Growth EDnritvereprsrise Value: ~$2.09bbnn 2014 Revenue: ~2$01.41 bRne v(+en5u6e%: from 2013) 6~ 9A0 NpDroAgrsa mtos be filed in 2015 Enxtpearnpsrisoen Vofa lburea:n nd/ead 2a0n1d4 g Reneevreinc upeo:rtfolio and R&D pipeline Continued investment in M&A and licensing opportunities 2~0$14.3 Rbnevenue: (~+$119.3%b nfrom 2013) 120105 programs i1n1 5d efvileeldo pAmNeDntAs ESntrtoenrpgr ipseer fVoramluaen:ce from portfolio Attractive R&D pipeline Focus on specialized products with high adjusted gross margins P~$ro2 8fbonrma 2014 Revenue: P~$ro4 .f2obrnma 2014 Revenue: ~3$020.4 dbenvelopment programs >100 Paragraph IV, TFoTpF foivr eF iTnM U .2S5.- 3G0x n seawle sA NeDwA Gs xp ecra ypeaabrilities DOopuerbaltei-odniagli ts ygnroerwgtihes 2T8ransformative platform

WReec odnefciinliea taidojnu sotfe dE ngdroos s(G mxa Orgninly a) sN toonta-lG rAevAePnu Mese, alseusrse sc o–s tG orfo sresv Menauregsi,n adjusted for amortization of intangible assets; certain upfront and milestone payments to partners; certain cost reduction and integration- orepleartaetdi nign iptieartfiovrems;a nincve.entory step-up recorded as part of our acquisitions; certain excess costs that will be eliminated pursuant to integration plans and certain other items that we believe do not reflect our core DTheec etmabbleer b3e1l o(win pmroivlliidoenss )r:econciliations between our U.S. Qualitest Pharmaceutical segment’s adjusted gross margin to gross margin, which is determined in accordance with U.S. GAAP, for the years ended ©332015 Endo Pharmaceuticals Inc. All rights reserved.