Horizon Pharma Agrees To Buy Crealta Holdings For $510 Million In Cash

Horizon Pharma Plc said Friday it has agreed to acquire Crealta Holdings LLC for $510 million in cash. Dublin-based Horizon said it expects the deal to add $70 million to $80 million to net sales and $45 million to $50 million in adjusted EBITDA in the first 12 months after the deal closes. Crealta owns Krystexxa, the first and only FDA-approved medicine to treat chronic refractory gout, an orphan disease and a type of arthritis. The deal is expected to close in the first quarter of 2016. "The Crealta acquisition further diversifies our portfolio of medicines and aligns with our focus of acquiring value-enhancing, clinically differentiated, long-life medicines that treat orphan diseases," Chief Executive Timothy Walbert said in a statement. Horizon shares were halted in premarket trade, but are up 58% in the year so far, while the S&P 500 is down 0.2%.

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