Endo Health to buy Canadian peer Paladin Labs for $1.6 billion

(Reuters) - Specialty pharmaceutical company Endo Health Solutions Inc said it would acquire Canadian peer Paladin Labs Inc for about $1.6 billion to expand its presence in Canada and emerging markets.

Endo will pay C$77 ($73.98) per Paladin share, representing a premium of more than 20 percent to Paladin's Monday close.

(Reporting by Esha Dey in Bangalore; Editing by Maju Samuel)