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Horizon Pharma enters into $300mm loan agreement to fund Vidara acquisition

Executive Summary

Horizon Pharma Inc. (therapeutics for pain, arthritis, and inflammation) entered into a five-year $300mm senior secured credit facility with affiliates of Citigroup Global Markets and Cowen & Co. The funds will support the cash portion of Horizon's $660mm cash/stock acquisition of Vidara Therapeutics Research Ltd.; the current agreement replaces one that Horizon had previously signed with Deerfield Management for $250mm.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement
    • Nonconvertible Debt

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