To expand its men’s healthcare products business, Endo International Plc has made an offer to buy Auxilium Pharmaceuticals Inc for around $2.2 billion in stock and cash.

In June this year, Auxilium had said that it would acquire QLT Inc, the Canadian eye drug maker in an all-stock deal to move its headquarters to lower-tax British Columbia.

Endo said that the company sent a proposal to Auxilium on Friday; however it had not received an official response.

Endo’s offer of $28.10 a share represents a premium of 30.6 percent to Auxilium’s Tuesday closing price of $21.52 on the NASDAQ.

Shares of Auxilium rose 42 percent to $30.60, indicating that some shareholders expected a higher offer.

Auxilium’s drug Xiaflex is marketed in the United States to treat men with bothersome curvature of the penis, a condition known as Peyronie’s disease.

Rajiv De Silva, Chief Executive of Endo said that they expect that Endo’s leading presence in men’s health, combined with their R&D capabilities and considerable financial resources will accelerate the growth of Xiaflex and Auxilium’s other products.

Xiaflex, is also being evaluated for use in frozen shoulder syndrome. The drug is already approved for treating Dupuytren’s contracture, which is a progressive hand disease that affects a person’s ability to use their fingers.

The company said two doses of the drug had proved statistically significant in a mid-stage study to smoothen cellulite.

Endo which is based in Dublin makes branded men’s healthcare products including testosterone replacement therapy Aveed. The company said that it intends to fund the transaction through cash on hand and debt financing.

Endo International’s shares, formerly known as Endo Health Solutions, were trading 5 percent higher at $68.50 after market.

Endo, which also makes medical devices and generic pharmaceuticals purchased privately-owned DAVA Pharmaceuticals Inc in June for $575 million.