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Endo Makes A Play For Auxilium, But QLT Deal Gets In The Way

This article was originally published in The Pink Sheet Daily

Executive Summary

The Irish company made its interest for Auxilium public, but the takeover target is not ready to break its previous merger agreement with Canadian drugmaker QLT.

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Endo expanded its generics business by purchasing Dava, EMD Serono partnered with Mersana on antibody-drug conjugates and Ligand in-licensed a cancer and autoimmune disease candidate from TG Therapeutics. It was all part of a hectic deal-making week coinciding with the annual BIO conference in San Diego.

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Endo’s Next Chapter Will Be Led By CEO De Silva

Former Valeant President De Silva joins Endo in the midst of a challenging year for the company, as two top-selling drugs face generic competition. De Silva will need to reenergize Endo and do so quickly if he is to maintain the early favor he appears to have won from investors.

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