|[March 19, 2014]
Deerfield Provides up to $250 Million in Acquisition Financing to Horizon Pharma
NEW YORK --(Business Wire)--
Deerfield Management Company announced today that it has provided up to
$250 million in acquisition financing to Horizon Pharma, Inc. (NASDAQ:
HZNP) for the acquisition of Vidara Therapeutics International Ltd.
Under the terms of the agreement, Horizon Pharma has the option to draw
up to $250 million in exchange for a commitment fee. Amounts drawn will
accrue interest payable quarterly in arrears and must be repaid within
five years. Horizon has the ability to prepay the loan after the third
and fourth anniversaries.
"Deerfield is pleased to provide its partner Horizon Pharma with
flexibility in its financing choices as it builds out its product
portfolio and transitions into becoming an important and profitable
pharmaceutical company," stated James Flynn, Managing Partner of
About Horizon Pharma
Horizon Pharma, Inc. is a commercial stage, specialty pharmaceutical
company that markets DUEXIS®, VIMOVO®
which target unmet therapeutic needs in arthritis, pain and inflammatory
diseases. The Company's strategy is to develop, acquire or in-license
additional innovative medicines where it can execute a targeted
commercial approach among specific target physicians such as primary
care physicians, orthopedic surgeons and rheumatologists, while taking
advantage of its commercial strengths and the infrastructure the Company
has put in place. For more information, please visit www.horizonpharma.com.
Deerfield is an investment management firm, committed to advancing
healthcare through investment, information and philanthropy.
For more information, please visit www.deerfield.com
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