Teva Pharmaceutical said on Monday that it had agreed to acquire La Jolla-based Auspex Pharmaceuticals, a developer of drugs that treat people with movement disorders, for about $3.2 billion.
In the latest acquisition in the pharmaceuticals industry, and amid an industry flurry of deal-making, Teva will pay $101 a share for Auspex. Including debt, the deal is worth $3.5 billion, and the boards of both companies have approved it.
Based in Jerusalem, Teva is the biggest maker of generic drugs in the world. Auspex, based in La Jolla, is developing several drugs that focus on the central nervous system to treat disorders like Huntington’s disease, tardive dyskinesia and Tourette syndrome.