Horizon Pharma buying Hyperion Therapeutics for about $1.1 billion

Associated Press

Horizon Pharma is buying Hyperion Therapeutics for about $1.1 billion, gaining two treatments for genetic disorders.

Dublin-based Horizon Pharma will pay $46 per share for Brisbane, California-based Hyperion, a 5.6 percent premium to that stock's closing price on Friday.

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The move adds the drugs Raviciti and Buphenyl to Horizon's offerings. Both drugs are aimed at treating inherited disorders that affect how the body removes nitrogen from the blood. Nitrogen buildup can be toxic.

Combined, the drugs had sales of $113.6 million in 2014.