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GEN News Highlights : Apr 29, 2013

Auxilium Snaps Up Urolology Therapeutics Firm Actient in $585M Deal

Auxilium Pharmaceuticals is slated to acquire urology therapeutics firm Actient Holdings in a $585 million up-front cash deal. Through this acquisition, Auxilium also expects to receive a tax benefit with a net value of around $60 million, at present.

The Malvern, PA-based pharma’s acquisition of Actient will expand its specialty therapeutic offerings. Actient’s urology portfolio includes Edex®, an injectable drug for erectile dysfunction, among other drug and medical device offerings. Actient has a staff of 165, including 100 sales reps.

Adrian Adams, Auxilium president and CEO, called the deal "a compelling fit from both a strategic and financial standpoint” because, he said in a statement, “the transaction creates a leading urology franchise with a diversified product portfolio and sales force leverage that is well positioned for growth of our current portfolio as we pursue the potential expansion of our label for Xiaflex® in Peyronie's disease.”