(RTTNews.com) – Bio-pharmaceutical company Horizon Pharma plc Friday said it would acquire Crealta Holdings LLC for $510 million in cash, expanding its Orphan business, with the addition of KRYSTEXXA, the first and only FDA-approved medicine for chronic refractory gout.
The deal is expected to add $70 million – $80 million in net sales and $45 million – $50 million in adjusted EBITDA for Horizon, in the first twelve months, upon completion.
The acquisition, which is likely to close in the first quarter 2016 and approved by the boards of both companies, is subject to the satisfaction of customary closing conditions and regulatory approvals, including antitrust approval in the United States.
Airnov provides critical healthcare industries with high-quality, controlled atmosphere packaging, to protect their products from moisture and oxygen. The business has manufacturing facilities in the USA, France, China and India and employs around 700 people.
Takeda of Japan has partnered with Hong Kong-based Hutchmed, gaining the commercial rights to colorectal cancer drug fruquintinib outside of China for $400 million up front, plus $730 million in potential milestone payments. Takeda also will help develop fruquintinib, which can be applied to subtypes of refractory metastatic colorectal cancer, regardless of biomarker status, the companies said.
On April 3, Scangos, who’s been chief executive officer at Vir since the start of 2017, will hand over the reins to Marianne De Backer, Ph.D. De Backer comes over from Bayer, where she currently heads up pharmaceutical strategy, business development and licensing. Alongside her CEO appointment, De Backer is set to join Vir’s board of directors, the company said Wednesday.