The Irish firm paid $101 per share to acquire Auspex’s portfolio of new medicines for people who live with movement disorders.
Auspex’s lead product candidate SD-809 (deutetrabenazine) is designed to treat chorea associated with Huntington’s disease, tardive dyskinesia, and Tourette syndrome.
The biopharmaceutical firm, Auspex, specializes in applying deuterium chemistry to known molecules to develop new therapies with the potential for improved safety and efficacy profiles.
Teva president and CEO Erez Vigodman said: "We believe that combining the Auspex portfolio with our strong research and commercialization capabilities will unlock significant value for Teva’s shareholders.
"We are proud and excited to continue to work to bring innovative treatments to the underserved movement disorder markets."
The US Food and Drug Administration (FDA) has also granted orphan drug designation for SD-809 to treat HD, while a new drug application (NDA) is expected to be submitted in the second quarter of this year.
Teva president of Global R&D and chief scientific officer Michael Hayden said: "The opportunity to bring relief to the many patients who face the debilitating effects of movement disorders and suffer from the effects of conditions such as chorea and tardive dyskinesia is greatly needed and humbling."