Auxilium Pharmaceuticals Inc said it would purchase Canadian eye drug maker QLT Inc in an all-stock deal to gain access to QLT's experimental treatment for retinal diseases caused by gene mutations. For QLT shareholders, the transaction represents a 25 percent premium based on a calculation of the closing prices of Auxilium and QLT shares on the Nasdaq on June 25, the companies said.
Auxilium Pharmaceuticals, Inc. is a specialty biopharmaceutical company focuses on developing and marketing products to predominantly specialist audiences. Shares of AUXL traded higher by 1.77% or $0.37/share to $21.23. In the past year, the shares have traded as low as $16.11 and as high as $32.89. On average, 1529400 shares of AUXL exchange hands on a given day and today's volume is recorded at 830418.
QLT Inc., is a biotechnology company. The Company is engaged in the development and commercialization of ocular products. Shares of QLT remained unchanged at $5.80. In the past year, the shares have traded as low as $3.83 and as high as $8.79. On average, 1800 shares of QLT.TO exchange hands on a given day and today's volume is recorded at 70.
QLT Inc., is a biotechnology company. The Company is engaged in the development and commercialization of ocular products. Shares of QLTI traded higher by 1.5% or $0.0797/share to $5.40. In the past year, the shares have traded as low as $3.69 and as high as $8.41. On average, 36327 shares of QLTI exchange hands on a given day and today's volume is recorded at 2390.
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