Daily Management Review

Teva to Buy Auspex Pharmaceuticals


03/30/2015


Israel's Teva Pharmaceutical Industries company announced the purchase of American Auspex Pharmaceuticals for $ 3.2 billion on Monday. The deal, approved by the boards of directors of both companies and major shareholders of Auspex, is scheduled for completion in mid-2015.



According to Teva’s report, the company will pay $ 101 per share of Auspex to expand its portfolio of products for the treatment of diseases affecting the musculoskeletal system.

Share price proposed by Teva is 42% higher than Auspex quote, which at the close of trading in New York on Friday was $ 70.91, reports Interfax.

According to forecasts of Teva, the deal will slightly reduce the adjusted earnings per share in 2015-2016 years, but will positively affect revenues starting next year, and will have a positive impact from 2017.

Teva’s shares fell 0.3% in the primary auction in New York on Monday.

Auspex Pharmaceuticals is a biopharmaceutical company specialized in the development of the drugs production to combat diseases associated with disorders of the nervous system.

At the end of 2014, Auspex Pharmaceuticals presented convincing results of clinical trials of experimental drugs SD-809, created for the treatment of Huntington's disease associated with chorea. The effectiveness of drugs was assessed by changes in the intensity of manifestation of chorea according to Unified Huntington`s Disease Rating Scale. Scientists have noted that the intake of SD-809 improved condition of the patients by 4.4 points on the scale, whereas the figure was 1.9 points in the placebo group. In general, the new drug was well tolerated.

In fourth quarter 2014, net income amounted to 687 million dollars against $ 380 million for the reporting period of 2013, the financial report says.

Quarterly sales fell from $ 5.4 billion to 5.2 billion dollars, as it was predicted by analysts.

Sales of generic drugs in the IV quarter declined overall by 8% - to $ 2.5 billion, by 16% in Europe. Sales of the multiple sclerosis treatment Copaxone decreased by 2% - to $ 1.1 billion.

For the entire 2014, sales of Teva remained at 2013 and was 20.3 billion dollars.

Net income increased to $ 3.1 billion, compared to $ 1.3 billion in 2013.
 
Auspex Pharmaceuticals Inc. is US biopharmaceutical company founded in 2001. Auspex specializes in the creation and commercialization of drugs for the treatment of rare (orphan) diseases. The number of employees is approximately 30 people.

source: Wall Street Journal.com






Science & Technology

Israel Completes Mars Habitat Simulation Experiment

Just $24 Earned By Hackers From The Huge Cryptojacking Campaign Conducted Last Week

New Molecule That Quickly Fights Cancer Cells Identified By Swedish Scientists

The U.K.’s Health Sector To Integrate Israeli ‘Digital Health’ Technology

Cryptocurrency Mining Malware Infects Government Websites In Multiple Countries All Across The World

New Research Into Space Settlement And Space Habitation Will Be Supported By Seed Grants Launched By UAE

NASA Confirms Mystery Satellite To Be Its IMAGE Satellite

Facebook To Put A Ban On Cryptocurrencies Ads

Study Show An Early Sign For Alzheimer's Is Sleep Disruption

Malicious ads on YouTube were used to mine cryptocurrency with viewers’ CPU

World Politics

World & Politics

Australia To Welcome Britain On The Latter’s Interest In Joining TPP

South African President Zuma Finally Resigns, New President To Be Elected Soon

13 countries with the best healthcare system

France is coming closer to Iran

India-Russia Develops Supersonic Missile Which Could Raise Concerns In China

Yet another serious political risk for Europe: Italian elections coming soon

Seven Weeks Time Period , Says Theresa May, For Agreement On Brexit Transition Deal

Germany on the brink of political chaos