By Tess Stynes
Teva Pharmaceutical Industries Ltd. agreed to acquire Auspex
Pharmaceuticals Inc. in a deal valued at roughly $3.2 billion,
increasing the Israel-based drug maker's presence in the market for
treatments for central nervous system disorders.
Teva is offering $101 a share for Auspex, a 42% premium to its
closing price on Friday.
La Jolla, Calif.-based Auspex's lead investigational product is
SD-809, which aims to treat chorea associated with Huntington's
disease, tardive dyskinesia and Tourette syndrome.
Last year Auspex, which focuses on treatments for movement
disorders, reported SD-809 showed positive results in a late-stage
study of patients with Huntington's disease. The company plans to
submit a new drug application to the U.S. Food and Drug
Administration by mid-2015 for SD-809, which has orphan drug
designation. Auspex expects to receive regulatory approval and
launch the treatment next year in the U.S.
The deal, set to close in mid-2015, is expected to add to Teva's
per-share earnings, excluding one-time items, starting in 2017.
Write to Tess Stynes at tess.stynes@wsj.com
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