Teva to Acquire Auspex in $3.2 Billion Deal

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.

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