Endo International to buy Auxilium Pharmaceuticals for $2.6bn
Ireland-based Endo International has signed an agreement to acquire Auxilium Pharmaceuticals, in a deal that is worth nearly $2.6bn.
Auxilium produces products in the men's healthcare segment, and has expanded its product portfolio and pipeline to orthopedics, dermatology and other therapeutic areas.
Auxilium Pharmaceuticals CEO and president Adrian Adams said: "We are proud of the work Auxilium has done to develop a portfolio of important products that are improving the lives of patients to create significant stockholder value. We believe this transaction is the culmination of those efforts."
Currently, Auxilium has 12 approved products. The company markets edex (alprostadil for injection), an injectable treatment for erectile dysfunction and ErecAid, a device for aiding erectile dysfunction.
The company also markets Testopel (testosterone pellets), an implantable testosterone replacement therapy, and Xiaflex for the treatment of Peyronie's disease, as well as Testim for the topical treatment of hypogonadism.
Endo International president and CEO Rajiv De Silva said the company intends to leverage Auxilium's leading presence in men's health, and also firm's R&D capabilities and financial resources to accelerate the growth of Xiaflex.
"We look forward to working with the Auxilium team to achieve the growth and synergy potential of this compelling strategic combination," De Silva added.
Endo develops and markets pharmaceutical, generic and device products through its operating companies.