Auxilium jumps on Endo bid

Auxilium jumped $9.66 (45%) to $31.18 on Wednesday after Endo International plc (NASDAQ:ENDP; TSX:ENL) made an unsolicited bid to acquire the specialty pharma postmarket on Tuesday (see BioCentury Extra, Sept. 16).

Auxilium said it is reviewing Endo's bid but is not backing out of its ongoing merger with ophthalmic play QLT Inc. (TSX:QLT; NASDAQ:QLTI). Auxilium's board adopted a one-year stockholder rights plan. ...