Horizon Pharma set to acquire Hyperion Therapeutics for $1.1 billion

30 March 2015

Ireland-based drugmaker Horizon Pharma (Nasdaq: HZNP) has reached agreement to acquire US firm Hyperion Therapeutics (Nasdaq: HPTX).

Under the terms of the deal, Horizon will purchase all of the issued and outstanding shares of Hyperion's common stock for $46.00 per share in cash or around $1.1 billion on a fully diluted basis. The per share consideration represents a premium of about 35% to Hyperion's volume weighted average price for the trailing 60-days. The proposed transaction has been unanimously approved by both companies' boards of directors.

Horizon's shares rose nearly 16% to $25.27 in Monday morning trading, while Hyperion's stock, which has nearly doubled in the last three months, gained 8.4% to $46.34.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK