Horizon Pharma To Buy Crealta Holdings For $510 Mln Cash

(RTTNews) - Bio-pharmaceutical company Horizon Pharma plc (HZNP) Friday said it would acquire Crealta Holdings LLC for $510 million in cash, expanding its Orphan business, with the addition of KRYSTEXXA, the first and only FDA-approved medicine for chronic refractory gout.

The deal is expected to add $70 million - $80 million in net sales and $45 million - $50 million in adjusted EBITDA for Horizon, in the first twelve months, upon completion.

The acquisition, which is likely to close in the first quarter 2016 and approved by the boards of both companies, is subject to the satisfaction of customary closing conditions and regulatory approvals, including antitrust approval in the United States.