BUZZ-Auxilium Pharmaceuticals Inc: Accepts Endo's higher offer

Thu Oct 9, 2014 7:59am EDT
 
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** Drug maker's shares up 10.6 pct at $32.90 premarket after agreeing to higher offer from Endo International Plc

** Endo raises offer to $33.25 per share from $28.10 offered in September

** Endo's latest offer represents a premium of about 12 pct to Auxilium stock's close on Wednesday

** Auxilium's intrinsic value is $9.69, based on expected earnings growth over the next 15 years, according to StarMine

** Auxilium terminates proposed merger with Canadian eye-drug maker QLT Inc

** Up to Wednesday's close, Auxilium's shares had gained about 38 pct since Endo first made its offer on Sept. 16