Horizon Pharma To Buy Hyperion Therapeutics For $1.1B
Law360, New York (March 30, 2015, 3:53 PM EDT) -- Irish drug company Horizon Pharma PLC said Monday it has agreed to buy California biotech Hyperion Therapeutics Inc. for $1.1 billion cash, adding revenue-generating orphan disease products to its portfolio, continuing a spate of acquisitions impacting the pharmaceutical industry.
The purchase price amounts to $46 per share, a 7.6 percent premium compared with Hyperion's closing stock price Friday and about a 35 percent premium based on the volume-weighted average price the past 60 days.
Horizon is picking up two key commercially approved orphan drugs by Hyperion — Raviciti and Buphenyl — that treat urea cycle disorders, or rare inherited metabolic disorders...
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