Horizon Pharma in cash deal to acquire Crealta

14 December 2015

Ireland-incorporated Horizon Pharma (Nasdaq: HZNP) has entered a definitive agreement to acquire USA-based Crealta Holdings for $510 million in cash, deepening its commitment to people who need treatments for rare conditions with the addition of gout drug Krystexxa (pegloticase).

News of the deal, which is expected to close in the first quarter of 2016, pushed Horizon’s shares down 4.95% to $19.39. The transaction is subject to the satisfaction of customary closing conditions and regulatory approvals, including antitrust approval in the USA.

The move follows Horizon’s decision last month to drop its hostile six-month pursuit of orphan disease specialist Depomed (Nasdaq: DEPO), for which it had offered around $1.1 billion to acquire, after a California court said the bid was based on the improper use of confidential information (The Pharma Letter November 20).

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