Horizon Pharma Buys Vidara for $660M, Relocates to Ireland
Horizon Pharma, an Illinois-based specialty pharma company, acquired Dublin-based Vidara Therapeutics in a $600 million cash-and-stock reverse merger that will enable Horizon to capitalize on Ireland's low corporate tax rates.
Horizon, which makes products that target unmet therapeutic needs in arthritis, pain and inflammatory diseases, will add Vidara's genetic disorder drug Actimmune to its portfolio of four drugs used to treat different forms of arthritis.
The deal will mean Horizon moves its legal headquarters to Dublin. The new company will be known as Horizon Pharma PLC and 74% owned by Horizon shareholders.
Read the Reuters press release