Auxilium board affirms QLT deal

The board of Auxilium Pharmaceuticals Inc. (NASDAQ:AUXL) unanimously reaffirmed its proposed merger agreement with ophthalmic play QLT Inc. (NASDAQ:QLTI; TSX:QLT) after reviewing an unsolicited bid from Endo International plc (NASDAQ:ENDP; TSX:ENL).

Auxilium said its board determined that Endo's offer was not a superior proposal to the planned QLT merger. Endo bid $2.2 billion for Auxilium alone on Sept. 16 (see BioCentury Extra, Sept. 16). ...