Navigate this market better. Subscribe for FREE stock alerts and information.

Tuesday, September 16, 2014

Endo's $2.2 billion offer could complicate Auxilium Pharma's QLT deal, (NASDAQ: AUXL), (TSE: QLT.TO), (NASDAQ: QLTI)

Endo International Plc made an unsolicited offer to purchase Auxilium Pharmaceuticals Inc for about $2.2 billion, which analysts said could complicate Auxilium's takeover of Canadian eye drug maker QLT Inc .Endo Chief Executive Rajiv De Silva said the specialty healthcare company sent its offer to Auxilium on Friday but had not received an official response.Auxilium did not respond to an email query and phone calls. The Chesterbook, Pennsylvania-based company said in June that it would buy Vancouver-based QLT in an all-stock deal in order to move its headquartersto lower-tax British Columbia.Auxilium said it expected that buyout to be completed in the fourth quarter of 2014.

Auxilium Pharmaceuticals, Inc. is a specialty biopharmaceutical company focuses on developing and marketing products to predominantly specialist audiences. Shares of AUXL fell by 1.56% or $-0.34/share to $21.52. In the past year, the shares have traded as low as $16.36 and as high as $32.89. On average, 1236480 shares of AUXL exchange hands on a given day and today's volume is recorded at 1189621.

QLT Inc., is a biotechnology company. The Company is engaged in the development and commercialization of ocular products. Shares of QLT fell by 1.58% or $-0.11/share to $6.85. In the past year, the shares have traded as low as $4.33 and as high as $7.90. On average, 4995 shares of QLT.TO exchange hands on a given day and today's volume is recorded at 835.

QLT Inc., is a biotechnology company. The Company is engaged in the development and commercialization of ocular products. Shares of QLTI fell by 1.74% or $-0.11/share to $6.20. In the past year, the shares have traded as low as $4.16 and as high as $7.10. On average, 180472 shares of QLTI exchange hands on a given day and today's volume is recorded at 26335.



Source