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Slide #69. Horizon Pharma, Inc. — Vidara Therapeutics International Ltd.
Horizon Pharma, Inc. (NASDAQ:HZNP)
Vidara Therapeutics International Ltd.
Horizon Pharma, Inc. (NASDAQ: HZNP) and Vidara Therapeutics International Ltd. (Vidara) today announced they have entered into a definitive agreement under which Horizon Pharma will acquire Vidara through a reverse merger for stock and cash valued at approximately $660 million. Horizon Pharma plc will be the name of the resulting company. Horizon Pharma plc will be organized under the laws of Ireland with a portfolio of four products marketed primarily in the United States. The proposed transaction has been unanimously approved by both companies' boards of directors. Pursuant to the agreement, Vidara will combine with Horizon Pharma, Inc. with approximately 74 percent of Horizon Pharma plc's ordinary shares to be exchanged for Horizon Pharma, Inc.'s common shares, with Horizon surviving the merger. The shareholders of Vidara will retain approximately 26 percent of Horizon Pharma plc and receive $200 million in cash, subject to certain adjustments.
Horizon Therapeutics is focused on researching, developing and commercializing medicines that address needs for rare and rheumatic diseases. Co.'s segments are: Orphan, which includes Co.'s marketed medicines KRYSTEXXA® (pegloticase injection) for intravenous infusion, RAVICTI® (glycerol phenylbutyrate) oral liquid, PROCYSBI® (cysteamine bitartrate) delayed-release capsules for oral use, and ACTIMMUNE® (interferon gamma-1b) injection for subcutaneous use; and Inflammation, which includes Co.'s marketed medicines PENNSAID® (diclofenac sodium topical solution) 2% w/w, DUEXIS® (ibuprofen/famotidine) tablets, and VIMOVO® (naproxen/esomeprazole magnesium) delayed-release tablets, for oral use.
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Strong Buy (3.94 out of 4)