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Auxilium reverse merges with QLT, redomiciles in Canada; withdrawn

Executive Summary

Canadian ophthalmic drug developer QLT Inc. reverse merged with fellow public biotech, US-based Auxilium Pharmaceuticals Inc., in a transaction worth $820mm. The combined entity--known as “New Auxilium”--will be incorporated in British Columbia, Canada (where the tax rate is expected to be reduced to the mid-20s) and 76% owned by legacy Auxilium stockholders.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
    • Specialty Pharmaceuticals
Deal Status
  • Withdrawn
Deal Type
  • Acquisition
    • Full Acquisition
    • Payment Includes Stock
    • Includes Contract
    • Reverse Acquisition
    • Intra-Biotech Deal

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