Horizon Therapeutics ups rare-disease portfolio with $3B Viela buy

 Horizon Therapeutics plc has agreed to buy Viela Bio Inc for about $3.05 billion as it looks to boost its rare-disease portfolio, the drugmakers said on Monday.

Horizon will acquire all of Viela’s common stock for $53 per share in cash and expects the deal to close in the first quarter of 2021.

“This acquisition represents a significant step forward in advancing our strategy – to expand our pipeline in order to accelerate our growth over the long term,” Horizon Chief Executive Officer Tim Walbert said.

Viela’s only approved drug, Uplizna, is used to treat a rare, severe, neuroinflammatory disease named neuromyelitis optica spectrum disorder that attacks the optic nerve spinal cord and brain stem.

Horizon, which had $2.08 billion in cash and cash equivalents as of Dec. 31, expects the transaction to reduce its adjusted EBITDA by about $140 million in 2021.

https://www.reuters.com/article/us-viela-bio-m-a-horizon-therapeu/horizon-therapeutics-boosts-rare-disease-portfolio-with-3-05-billion-viela-bio-buy-idUSKBN2A12EW