Local drug maker acquired by Horizon Pharma for $660M - CBS46 News

Local drug maker acquired by Horizon Pharma for $660M

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ATLANTA (CBS46) -

Horizon Pharma, Inc. and Roswell-based Vidara Therapeutics International Ltd. announced they have entered into a definitive agreement under which Horizon Pharma will acquire Vidara through a reverse merger for stock and cash valued at about $660 million.

The new operating name will be Horizon Pharma PLC. It will organized under the laws of Ireland with a portfolio of four products marketed primarily in the United States.

Vidara is a privately-held, specialty pharmaceutical company with operations in Dublin, Ireland, and the U.S. The company markets Actimmune. The U.S. Food and Drug Administration approved its use in children and adults with chronic granulomatous disease and severe, malignant osteopetrosis.

The transaction was approved by the boards of directors of both companies. Approval is still needed from the stockholders of Horizon Pharma and the satisfaction of customary closing conditions and regulatory approvals, including antitrust approval in the United States.

The transaction is expected to close mid-year 2014.

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