Pharma Deals Review, Vol 2014, No 10 (2014)

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Auxilium Drops QLT and Accepts Sweetened US$2.6 B Takeover Bid from Endo

Heather Cartwright

Abstract


After a month-long pursuit, Auxilium Pharmaceuticals has succumbed to a sweetened US$2.6 B takeover bid from Endo International, dropping its plans for a tax inversion via a reverse merger with Canadian ophthalmology specialist QLT. The deal will strengthen Endo’s pharmaceutical business, adding complementary products in men’s health and urology, including Xiaflex® (collagenase clostridium histolyticum), Testim® (testosterone gel) and Testopel® (testosterone pellets). In September 2014, two FDA advisory panels voted in favour of restricting the usage of testosterone replacement therapies, however.



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