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Endo will acquire Auxilium Pharmaceuticals in a cash and stock transaction for approximately $2.6 billion.
Endo International will acquire Auxilium Pharmaceuticals, a specialty biopharmaceutical company, in a transaction valued at $2.6 billion, including the repayment and assumption of debt. "By adding Auxilium's complementary commercial portfolio, we believe this transaction is aligned with our strategy of pursuing accretive, value creating growth opportunities. We intend to leverage Auxilium's leading presence in men's health, as well as our R&D capabilities and financial resources to accelerate the growth of Xiaflex and Auxilium's other products," said Rajiv De Silva, president and CEO of Endo, in a press release.
Upon completion of the transaction, Endo's pharmaceutical portfolio will have a broader offering of urology and orthopedic products that complement its current men's health and pain products. Endo expects to drive increased adoption and enhance the performance of Auxilium's Xiaflex (collagenase clostridium histolyticum or CCH) and accelerate development of the product in potential new indications. Endo also intends to leverage its resources to optimize Auxilium's other products, including Testopel (testosterone pellets) and Stendra (avanafil). Endo believes the combined company will be well positioned to drive organic growth across its portfolio and to capitalize on additional future strategic merger and acquisition opportunities.
Source: Endo International