Auxilium Pharma acquires Actient in $585 million deal

Specialty drugmaker Auxilium Pharmaceuticals (Nasdaq: AUXL) says that it has completed the acquisition of fellow USA-based Actient Holdings, a private urology specialty therapeutics company, for $585 million in upfront cash plus certain contingent consideration and warrants to purchase Auxilium common stock.

Auxilium expects to receive a tax benefit, with a net present value of approximately $60 million, as a result of the acquisition of Actient. The transaction is expected to be immediately accretive on a non-GAAP basis to Auxilium's 2013 adjusted net income.

Actient is a private company primarily focused on urology, with a portfolio that includes Testope, the only long-acting implantable testosterone replacement therapy (TRT), Edex, a leading branded non-oral drug for erectile dysfunction, Striant, a buccal system for testosterone delivery, and Osbon ErecAid, a device for aiding erectile dysfunction. Actient also has a non-promoted respiratory franchise, including Theo-24 and Semprex-D, along with three other non-promoted products. The company has approximately 165 employees, including 100 sales representatives in two focused field forces.