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Teva to Buy Auspex for $3.5 Billion to Boost Neurology Arm

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By David Wainer and Phil Serafino

March 30, 2015 at 11:15 AM UTC

Updated on

March 30, 2015 at 3:03 PM UTC

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Teva Pharmaceutical Industries Ltd. agreed to buy Auspex Pharmaceuticals Inc. for about $3.5 billion in cash to gain drugs that curb tics and other movement disorders.

Teva will begin a tender offer of $101 a share for La Jolla, California-based Auspex, the companies said in a statement today. That’s 42 percent above Auspex’s closing price on Friday. Auspex’s shares rose to $100.57 at 10:36 a.m. New York time.