Teva to buy U.S. drug developer Auspex for $3.5B

Israel's Teva Pharmaceutical Industries said it would buy U.S. drug developer Auspex Pharmaceuticals Inc. for $3.5 billion to boost its portfolio of treatments for the central nervous system.

The world's largest maker of generic drugs, Teva announced it will offer $101 per share in cash, representing a 42.4 percent premium on Auspex's Friday closing price.

The deal is expected to be finalized by 2017.

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