Sector News

Horizon seals $800m Raptor buy

October 26, 2016
Life sciences

Dublin, Ireland-headquartered Horizon Pharma has now completed the acquisition of US group Raptor Pharmaceutical.

Under the deal, Horizon has acquired all of issued and outstanding shares of Raptor common stock for $9.00 per share in cash, which equates to around $800 million in total.

According to Horizon, the deal strengthens its focus on rare diseases and provides expansion into Europe and other international markets, and diversifies revenue with 11 medicines across three business units orphan, rheumatology and primary care.

“The acquisition of Raptor directly aligns with our long-term strategy and evolution into a rare disease focused company, where now more than half of our medicines are used to treat patients with rare diseases,” said Timothy P. Walbert, chairman, president and chief executive of Horizon.

“The added infrastructure in Europe and other key international markets will further benefit the access to both our current and newly acquired medicines as well as position us for the potential introduction of Actimmune for Friedreich’s ataxia in Europe in future years if the results of the Phase III trial are positive.”

The deal is expected to be accretive to adjusted EBITDA in 2017.

By Selina McKee

Source: Pharma Times

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