Auxilium Pharma to buy Canadian eye drug maker QLT

Thu Jun 26, 2014 7:30am EDT
 
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June 26 (Reuters) - Auxilium Pharmaceuticals Inc said it would buy 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 shareholders will receive 3.1359 QLT shares for each share held, and will own about 76 percent of the combined company. (Reporting by Esha Dey in Bangalore; Editing by Sriraj Kalluvila)