Horizon acquiring Raptor

Horizon Pharma plc (NASDAQ:HZNP) is buying Raptor Pharmaceutical Corp. (NASDAQ:RPTP) for $9 per share in cash, or about $800 million. The price is a 21% premium to Raptor's close of $7.45 on Friday, before the deal was announced.

Horizon will gain Raptor's Procysbi cysteamine bitartrate delayed-release capsules, a cystine depleting agent that is approved in the U.S. and EU to treat nephropathic cystinosis. Horizon also adds Raptor's Quinsair, an aerosolized formulation of levofloxacin that is marketed in Europe and Canada to manage chronic pulmonary infections due to Pseudomonas aeruginosa in patients with cystic fibrosis (CF). ...