Horizon crosses the Atlantic to acquire Raptor for $800m

Irish drugs producer Horizon Pharma has entered into a definitive agreement with Raptor Pharmaceuticals in which Horizon will buy the US biopharmaceutical company for $800 million.

The transaction, which is expected to close in the fourth quarter of 2016, will allow Horizon to add Procysbi (cysteamine bitartrate),a treatment forpatients with kidney cystinosis, to its portfolio. The drug has patent protection until 2034.

Horizon will also add Quinsair (levofloxacin), a treatment for chronic pulmonary infections.

Timothy Walbert, president of Horizon, said: “The proposed acquisition of Raptor furthers our commitment to helping people with rare diseases and is a significant step in advancing our strategy to expand our rare disease business.”

He added: “Along with the potential for accelerated revenue growth, the addition of Raptor strengthens our US orphan business and provides a platform to expand our orphan business in Europe and other key international markets.”

Julie Anne Smith, president of Raptor, said: “On behalf of the board and management team, I extend our deepest gratitude to everyone at Raptor for their unrelenting commitment to advancing the development of our medicines and their tireless work with the patients we serve.”