UPDATE 2-Endo bolsters men's healthcare business with Auxilium deal

Thu Oct 9, 2014 2:54pm EDT
 
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* Endo offers $33.25/share for Auxilium

* Auxilium terminates deal with QLT

* Auxilium shares rise as much as 11 pct to $33

* Endo shares down 5 pct (Adds analyst comments, background; updates shares)

By Ankur Banerjee

Oct 9 (Reuters) - Endo International Plc brought a successful end to its month-long pursuit of Auxilium Pharmaceuticals Inc, with the smaller rival choosing a sweetened offer over its agreement to buy Canadian eye-drug maker QLT Inc.

The $1.67 billion deal for Auxilium expands Endo's portfolio to include Xiaflex, which is approved to treat Peyronie's disease - a condition that causes painful erections - and Dupuytren's contracture, a disease that impairs a person's ability to use their fingers.

"Endo recognizes the value inherent to Xiaflex, given the drug's potential in multiple additional indications," Aegis Capital analyst Raghuram Selvaraju said in a note.

Auxilium's lead drug is also being evaluated for use in frozen shoulder syndrome - a condition characterized by stiffness and pain in the shoulder joint - and to smoothen cellulite, a condition that causes dimpling of the skin, especially on women's hips and thighs.   Continued...