Teva buying Auspex for $3.2 billion
NEW YORK (AP) — Teva Pharmaceutical is buying Auspex Pharmaceuticals for about $3.2 billion in a move to strengthen its position on central nervous system condition treatments.
Jerusalem-based Teva said Monday that it will pay $101 per share, marking a 47 percent premium to San Diego-based Auspex's closing stock price on Friday.
Auspex does not yet have a product on the market. Its lead product candidate is Austedo, which is aimed at treating involuntary movement associated with the genetic disorder Huntington's disease.
Teva has treatments for a wide range of conditions, including Copaxone for multiple sclerosis and Azilect for Parkinson's disease.