Horizon Therapeutics has announced its intent to purchase Viela Bio in a deal valued at $3.05 billion.
Horizon, which specializes in rare and rheumatic diseases, said the acquisition would allow the company to expand its pipeline and accelerate growth.
Maryland-based Viela focuses on autoimmune and severe inflammatory diseases and has one approved drug on the market — Uplizna, a treatment for a rare disease called neuromyelitis optica spectrum disorder. Uplizna, a monoclonal antibody, is also in phase 3 trials for three other indications.
Horizon, meanwhile, has 10 approved medications targeting gout, inflammatory conditions and rare diseases.
The companies are hoping to close the deal by the end of Q4 this year.
Read the Reuters report.
