Teva to buy U.S. drug developer Auspex Pharma for $3.5 billion

Israel's Teva Pharmaceutical Industries said it would buy U.S. biopharmaceutical firm Auspex Pharmaceuticals Inc for an equity value of $3.5 billion to boost its portfolio of treatments for the central nervous system. Teva, the world's largest maker of generic drugs, will offer $101 per share in cash, representing a premium of 42.4 percent to Auspex's Friday closing price, the companies said on Monday. In February Teva said it was ready to return to making acquisitions after a year focused on cutting costs under its new chief executive, Erez Vigodman.

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