Auxilium Pharmaceuticals Inc. agreed to take control of biotechnology firm QLT Inc. in a $345 million stock deal that will re-domicile the company in Canada and give Auxilium new experimental eye drug products.

Auxilium, a specialty drug company based in Chesterbrook, Pennsylvania, will gain ophthalmology treatments for inherited retinal diseases from Vancouver-based QLT, as well as a lower tax rate. The new company will be incorporated in British Columbia, Canada, according to a statement today.

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