Pharma BD Deal Intelligence

Horizon Pharma plc / Raptor Pharmaceutical Corp.

2016 · Acquisition/Merger · $860M · Complete

Announcement Sentiment

Positive

Horizon Pharma agreed to acquire Raptor Pharmaceutical for $9.00/share cash (~$800M equity, ~$860.8M total including debt repayment). Adds PROCYSBI (cysteamine for nephropathic cystinosis) and QUINSAIR (inhaled levofloxacin for CF, EU only) to Horizon's rare-disease portfolio. Closed October 25, 2016.

Did it work? Outcome assessment

Strategic verdict

Achieved Stated Rationale

Financial impact

Accretive

Pipeline outcome

Mixed

Assessment window: 5yr post-close.

Key facts

Announced Sep 12, 2016
Closed Oct 25, 2016
Deal value $860M
Deal type Acquisition/Merger
Therapeutic area Nephropathic cystinosis (PROCYSBI); cystic fibrosis lung infection (QUINSAIR, EU)
Indications Nephropathic cystinosis (PROCYSBI); cystic fibrosis lung infection (QUINSAIR, EU)
Key assets PROCYSBI (cysteamine bitartrate delayed-release); QUINSAIR (levofloxacin inhalation solution)
Mechanism Cysteine-depleting agent (PROCYSBI); fluoroquinolone antibiotic inhalation (QUINSAIR)

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