Auxilium Pharmaceuticals, Inc. Raises $50 Million In Additional Financing

  Auxilium Pharmaceuticals, Inc. Raises $50 Million In Additional Financing

PR Newswire

CHESTERBROOK, Pa., Sept. 20, 2013

CHESTERBROOK, Pa., Sept. 20, 2013 /PRNewswire/ --Auxilium Pharmaceuticals,
Inc. (Nasdaq: AUXL), a specialty biopharmaceutical company, today announced it
entered into an Incremental Assumption Agreement ("Incremental Agreement")
with Morgan Stanley Senior Funding, Inc. ("MSSF") under its existing Credit
Agreement with MSSF. Under the Incremental Agreement, the Company raised an
additional $50,000,000 from a syndicate of lenders, and this additional amount
is on terms consistent with its existing $225,000,000 senior secured credit
facility. The Company expects to use these proceeds for general corporate
purposes, including potential corporate development and licensing activities.

(Logo: http://photos.prnewswire.com/prnh/20101202/MM10881LOGO )

"This Incremental Agreement allows Auxilium to access additional capital at
attractive financing rates and we believe this successful financing helps
demonstrate investors' continued confidence in our Company, our strategy and
our future," said Adrian Adams, Chief Executive Officer and President of
Auxilium Pharmaceuticals. "We remain focused on maximizing our existing
portfolio of products, while maintaining flexibility to bring in additional
products with a preference for late stage or marketed products that leverage
our anchor positions in men's healthcare or orthopedics."

About Auxilium
Auxilium Pharmaceuticals, Inc. is a specialty biopharmaceutical company with a
focus on developing and marketing products to predominantly specialist
audiences. Auxilium markets Testim® 1% (testosterone gel) for the topical
treatment of hypogonadism in the U.S. and XIAFLEX® (collagenase clostridium
histolyticum (CCH)) for the treatment of adult Dupuytren's contracture
patients with a palpable cord in the U.S. Ferring International Center S.A.
markets Testim in certain countries of the EU and Paladin Labs Inc. markets
Testim in Canada. Swedish Orphan Biovitrium AB has marketing rights for
XIAPEX® (the EU tradename for collagenase clostridium histolyticum) in 71
Eurasian and African countries. Asahi Kasei Pharma Corporation has
development and commercial rights for XIAFLEX in Japan and Actelion
Pharmaceuticals Ltd has development and commercial rights for XIAFLEX in
Canada, Australia, Brazil and Mexico. Auxilium also markets TESTOPEL®, a
long-acting implantable testosterone replacement therapy, Edex®, the leading
branded non-oral drug for erectile dysfunction, Striant®, a buccal system for
testosterone delivery, Osbon ErecAid®, the leading device for aiding erectile
dysfunction, and also has a non-promoted respiratory franchise, including
Theo-24® and Semprex®-D, along with three other non-promoted products, in the
U.S. Auxilium has three projects in clinical development. XIAFLEX is in
phase III of development for the treatment of Peyronie's disease. CCH is in
phase II of development for the treatment of Frozen Shoulder syndrome
(adhesive capsulitis) and phase II of development for the treatment of
cellulite (edematous fibrosclerotic panniculopathy). Auxilium also has rights
to pursue additional indications for XIAFLEX. For additional information,
visit http://www.auxilium.com.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995
This news release contains forward-looking statements as defined by the
Private Securities Litigation Reform Act of 1995, which discuss matters that
are not facts, and may include words to indicate their uncertain nature such
as "believe," "expect," anticipate," "intend," "plan," "could," "estimate,"
"project," "will," and "target." Our forward-looking statements convey
management's expectations, beliefs, plans and objectives regarding future
performance of the Company and are based upon preliminary information and
management assumptions. No specific assurances can be given regarding the
potential use of the proceeds from the additional financing, the Company's
ability to maximize its existing portfolio or the Company's ability to bring
in additional products. While the Company may elect to update the
forward-looking statements made in this news release in the future, the
Company specifically disclaims any obligation to do so. Such forward-looking
statements are subject to a wide range of risks and uncertainties that could
cause results to differ in material respects, including those relating to
product development, revenue, expense and earnings expectations, intellectual
property rights, results and timing of clinical trials, success of marketing
efforts, the need for additional research and testing, and the timing and
content of decisions made by regulatory authorities, including the U.S. Food
and Drug Administration, and those risks discussed in our reports on file with
the Securities and Exchange Commission (the "SEC"). Our SEC filings may be
accessed electronically by means of the SEC's home page on the Internet at
http://www.sec.gov or by means of the Company's home page on the Internet at
http://www.auxilium.com under the heading "For Investors - SEC Filings."
There may be additional risks that the Company does not presently know or that
the Company currently believes are immaterial which could also cause actual
results to differ from those contained in the forward-looking statements.

AUXILIUM CONTACTS:
James E. Fickenscher / CFO     Nichol Ochsner/ Senior Director, IR
Auxilium Pharmaceuticals, Inc. Auxilium Pharmaceuticals, Inc.
(484) 321-5900                 (484) 321-5900
jfickenscher@auxilium.com      nochsner@auxilium.com

SOURCE Auxilium Pharmaceuticals, Inc.

Website: http://www.auxilium.com
 
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