Horizon to Acquire Hyperion

Horizon Pharma has entered into a definitive agreement to acquire Hyperion Therapeutics, Inc. for approximately $1.1 billion in cash. The transaction, subject to customary conditions, is expected to close in 2Q15.
 
The transaction increases the number of Horizon’s products from five to seven, with the addition of RAVICTI and BUPHENYL to its orphan business unit. Sales of RAVICTI and BUPHENYL in 2014 were $113.6 million.
 
“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 chief executive officer, Horizon Pharma. “This transaction will be immediately accretive to adjusted EPS and we expect the contribution of RAVICTI and BUPHENYL in 2016 will add approximately $100 million to our adjusted EBITDA, including cost synergies contributing greater than $50 million.”
 
“During the last two years, we have solidified our position in the orphan disease space and made significant progress in bringing life-changing medicines to people with urea cycle disorders,” said Donald J. Santel, president and chief executive officer, Hyperion Therapeutics, Inc. “I would like to thank my colleagues for their tireless commitment to advancing the clinical development and understanding of RAVICTI, BUPHENYL and urea cycle disorders. Horizon shares our commitment and I’m confident that the strength of its existing orphan business unit will continue to expand the reach of these important medicines to more patients impacted by these disorders.”