Willkie Advises Auxilium in $657 Million Acquisition of Actient

April 30, 2013

Deal is expected to create a leading urology platform with the widest range of products for testosterone replacement therapy (TRT).

On April 29, it was announced that Willkie client Auxilium Pharmaceuticals, Inc., a specialty biopharmaceutical company, has completed its acquisition of private urology specialty therapeutics company Actient Holdings LLC. Auxilium is paying $585 million in upfront cash plus certain contingent consideration and warrants to purchase Auxilium common stock, for a total enterprise value of up to $657 million. Based in Lake Forest, IL, Actient’s urology portfolio includes TESTOPEL, the only long-acting implantable testosterone replacement therapy (TRT) and Edex, the leading branded non-oral drug for erectile dysfunction. Chesterbrook, PA-based Auxilium focuses on developing and marketing products, including Testim 1% (testosterone gel) in the U.S. for the topical treatment of hypogonadism, to predominantly specialist audiences. The deal is expected to create a leading urology platform with the widest range of products for TRT.

The deal was handled by partners Adam Turteltaub, Russell Leaf, Eugene Chang, Mary Eaton, William Hiller, Jordan Messinger and Christopher Peters; of counsel William Thomas; special counsel Daniel Backer and Jonathan Konoff and associates Joshua Halpern, Hania Masud, Kathryn Allen, Veronica Ng, Geri Anne McEvoy, Amir Ghavi and Sean Zoltek.