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20 March 2014Americas

Horizon boosts portfolio with Vidara merger

Horizon Pharma is set to acquire Dublin-based Vidara Therapeutics in a merger worth about $660 million, the companies announced on March 19.

The new company, which will be known as Horizon Pharma plc, will operate in Ireland.

US company Horizon will add Vidara’s drug Actimmune to its portfolio, which includes arthritis therapies Duexis, Vimovo and Rayos (known as Lodotra in Europe and certain Asian countries).

Actimmune has been approved in the US as a treatment for chronic granulotamous disease and severe, malignant osteopetrosis. Its sales revenue totalled $58.9 million in 2013.

Under the agreement, Horizon will acquire 74 percent of Vidara’s shares, while Vidara’s shareholders will retain the remaining 26 percent.

Horizon’s chief executive Timothy Walbert said: “The addition of Actimmune complements our commercial business model focused on targeted promotion to primary care physicians and specialists.

“The combined company would have a portfolio of four proprietary products and an international platform that builds on our strategy of organic growth and acquisitions. We look forward to working with the Vidara team to bring our companies together to accelerate the creation of shareholder value.”

When contacted by LSIPR, Vidara declined to comment.

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