SOURCE: Horizon Pharma

Horizon Pharma

September 18, 2014 09:16 ET

Horizon Pharma Announces Stockholder Approval of Its Acquisition of Vidara Therapeutics International plc and Expected Transaction Closing on September 19th

DEERFIELD, IL--(Marketwired - Sep 18, 2014) - Horizon Pharma, Inc. (NASDAQ: HZNP) today announced that at its Special Meeting of Stockholders held today, proposals related to Horizon's acquisition of Vidara Therapeutics International plc were approved by Horizon's stockholders.

As previously announced, on March 18, 2014, Horizon Pharma, Inc. ("Horizon"), Vidara Therapeutics Holdings LLC, Vidara Therapeutics International plc, an Irish public limited company ("Vidara"), Hamilton Holdings (USA), Inc., an indirect wholly-owned subsidiary of Vidara ("U.S. HoldCo"), and Hamilton Merger Sub, Inc., a wholly-owned subsidiary of U.S. HoldCo ("Merger Sub"), entered into a Transaction Agreement and Plan of Merger (the "Merger Agreement").  The Merger Agreement provides that, upon the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into Horizon, with Horizon continuing as the surviving corporation and as a wholly-owned, indirect subsidiary of Vidara (the "Merger"), with Vidara changing its name to Horizon Pharma Public Limited Company, or plc ("New Horizon").

Horizon's stockholder approval satisfies certain closing conditions related to the Merger.  The Merger remains subject to certain other customary closing conditions and approvals including the substitute listing of New Horizon's ordinary shares on the NASDAQ Stock Market.  Horizon expects the closing to occur on September 19th after satisfaction of the remaining closing conditions.

About Horizon Pharma

Horizon Pharma, Inc. is a specialty biopharmaceutical company focused on improving patients' lives by identifying, acquiring and commercializing differentiated products that address unmet medical needs.  The company markets a portfolio of products in the areas of arthritis, pain and inflammatory diseases.  The company's U.S. marketed products are DUEXIS® (ibuprofen/famotidine), RAYOS® (prednisone) delayed-release tablets and VIMOVO® (naproxen/esomeprazole).  The company has announced the acquisition of Vidara Therapeutics International Public Limited Company (Vidara) through a reverse merger, which is expected to close on September 19, 2014.  Upon the closing of the Vidara transaction, the company will add ACTIMMUNE® (interferon gamma-1b), an injectable biologic drug prescribed for the management of two rare disorders, chronic granulomatous disease ("CGD") and severe, malignant osteopetrosis ("SMO"), to its portfolio of U.S. marketed products.  For more information, please visit www.horizonpharma.com.

About Vidara Therapeutics International plc

Vidara Therapeutics International plc, along with its wholly owned subsidiaries, is a biopharmaceutical company focused on the treatment of patients with serious, difficult-to-treat inherited disorders and rare diseases.  The company markets ACTIMMUNE® (interferon gamma-1b), an injectable biologic product approved for the management of two rare disorders, chronic granulomatous disease ("CGD") and severe, malignant osteopetrosis ("SMO").  ACTIMMUNE® is indicated for reducing the frequency and severity of serious infections associated with Chronic Granulomatous Disease and delaying time to disease progression in patients with severe, malignant osteopetrosis.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding, the expected timing for closing of the Vidara acquisition and the expectation that remaining closing conditions will be satisfied. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release, and actual results may differ materially from those in these forward-looking statements as a result of various factors.  These factors include, but are not limited to, risks as to whether and when Horizon will be able to satisfy the conditions precedent to close its proposed merger with Vidara.  For a further description of these and other risks facing the Company, please see the risk factors described in the Company's filings with the United States Securities and Exchange Commission, including those factors discussed under the caption "Risk Factors" in those filings.  Forward-looking statements speak only as of the date of this press release and the Company undertakes no obligation to update or revise these statements, except as may be required by law.

Contact Information

  • Contacts:

    Company:
    Elizabeth M. Higashi, CFA
    Vice President, Investor Relations
    Email Contact

    Investors:
    Ami Bavishi
    Email Contact
    212-213-0006 ext. 344

    Media:
    E. Blair Clark-Schoeb
    Email Contact
    917-432-9275