Boston, MA 09/18/2014 (wallstreetpr) – Auxilium Pharmaceuticals, Inc. (NASDAQ:AUXL) confirmed yesterday that Endo International plc – Ordinary Shares (NASDAQ:ENDP) gave an unsolicited buyout offer for the acquisition of former. Meanwhile, Auxilium Pharmaceuticals has also adopted the shareholder rights plan.
A lot of suitors
The company had earlier agreed that it will merge with QLT Inc. (USA) (NASDAQ:QLTI), a biotechnology firm based in Canada. Auxilium Pharmaceuticals is still going ahead with its merger plan with Canadian Biotech Company. But, as far as the bid from Endo International plc – Ordinary Shares (NASDAQ:ENDP) is concerned, Auxilium said that it will consider the offer for review. Meanwhile, it also said that the company’s Board will not change or retract from the merger recommendation with QLT.
Auxilium had announced about the merger deal with QLT in June 2014. Giving nod to Auxilium Pharmaceuticals, Inc. (NASDAQ:AUXL) to go ahead with the Endo deal, QLT also gave its consent to the shareholder-rights plan. Also, QLT Inc. (USA) (NASDAQ:QLTI) reaffirmed its backing to Auxilium for the Endo deal.
QLT has in its pipeline, the products that focus on development of eye treatments.
Endo’s Bid for Auxilium
Yesterday, Endo International plc – Ordinary Shares (NASDAQ:ENDP) disclosed the amount of its bid as well. The company said that it was ready to offer $28.10 per share for the acquisition of Auxilium. This will sum up to approximately $2.2 billion in stock and cash. Endo, which is based in Dublin, is looking forward to rope in the male-related healthcare products of Auxilium Pharmaceuticals, Inc. (NASDAQ:AUXL).
Bid for Auxilium’s Men’s Health Related Products
The prime objective of Endo International plc – Ordinary Shares (NASDAQ:ENDP) is to get hold of the aforementioned products. Auxilium Pharmaceuticals, Inc. (NASDAQ:AUXL) is maker and marketer of specialized men’s healthcare biopharmaceutical products. Apart from this, through the acquisition deal, Endo will also look forward to extractracting benefit from Auxilium’s expanded pipeline and portfolio of other products like orthopaedics-related and dermatology-related objects.
Endo International plc – Ordinary Shares (NASDAQ:ENDP) has already given hints regarding the “crucial synergy opportunities” that it will extract with this acquisition. It also underscored about the potential growth of Xiaflex drug of Auxilium Pharmaceuticals, Inc. (NASDAQ:AUXL).
