Israel-based Teva Pharmaceutical Industries has completed the acquisition of US late-clinical stage biopharmaceutical firm Auspex Pharmaceuticals for around $3.5bn in equity value.
The acquisition has been completed through the successful tender offer for all of the outstanding shares of common stock of Auspex at $101.00 per share in cash.
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Auspex develops new medicines for hyperkinetic movement disorders and other rare diseases.
Teva Pharmaceutical Industries president and CEO Erez Vigodman said: "We believe that combining the Auspex portfolio with our strong research and commercialisation capabilities will unlock significant value for Teva’s shareholders.
The acquired business is said to expand Teva’s position in the central nervous system (CNS) segment, in addition to enhancing mid to long-term revenue and earnings growth profile.
Auspex is specialised in applying deuterium chemistry to known molecules to create new therapies with the potential for improved safety and efficacy profiles.
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By GlobalDataIts lead product SD-809 (deutetrabenazine) is being developed to treat chorea associated with Huntington’s disease, tardive dyskinesia, and Tourette syndrome.
The company received orphan drug status from the US Food and Drug Administration (FDA) for SD-809 to treat Huntington’s disease, and is planning to submit NDA in the second quarter of this year.
Its other pipeline of products includes SD-560 that is being developed for fibrotic conditions and SD-1077, which is being developed for Parkinson’s disease.
Teva global R&D president and chief scientific officer Dr Michael Hayden said: "The opportunity to bring relief to the many patients who face the debilitating effects of movement disorders, and suffer from the effects of conditions such as chorea and tardive dyskinesia is greatly needed and humbling."
