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Horizon Pharma offers to buy Hyperion Therapeutics for $1.1 billion in cash.
Horizon Pharma announced on Mar. 30, 2015 that it entered into a definitive agreement with Hyperion Therapeutics to acquire the company for $1.1 billion in cash. Hyperion, a commercial-stage biopharmaceutical company, aims to acquire, develop, and commercialize novel therapeutics specifically for orphan diseases, according to the company website. Under the terms of the agreement, Horizon would gain access to two of Hyperion’s orphan drugs, Ravicti (glycerol phenylbutyrate) and Buphenyl (sodium phenylbutyrate). The two drugs are used to treat patients with urea cycle disorders, which are inherited metabolic disorders and impact approximately 2100 people in the United States.
"The Hyperion acquisition will expand and diversify our product portfolio by adding two complementary orphan disease products, Ravicti and Buphenyl, and leverage as well as expand the existing infrastructure of our orphan disease business,” said Timothy P. Walbert, chairman, president, and CEO, Horizon Pharma, in a press release.
Source: Horizon Pharma