Teva completes Auspex Pharmaceuticals takeover

Teva has announced the acquisition of Auspex Pharmaceuticals, an innovative biopharmaceutical company headquartered in San Diego.

Representing a total consideration of approximately $3.2 billion (2.1 billion pounds) in enterprise value and approximately $3.5 billion in equity value, the deal will enhance Teva's revenue and earnings profile, while strengthening its central nervous system franchise.

Auspex specialises in applying deuterium chemistry to known molecules to create novel therapies with the potential for improved safety and efficacy profiles.

Its lead compound is SD-809, a possible treatment of chorea associated with Huntington's disease, tardive dyskinesia and Tourette syndrome. It has been granted orphan drug status by the US Food and Drug Administration.

Erez Vigodman, president and chief executive officer of Teva, said: "We are proud and excited to continue to work to bring innovative treatments to the underserved movement disorder markets."

The company also confirmed this week that it is also moving ahead with its efforts to acquire Mylan for a total equity value of approximately $43 billion.