ARTICLE | Finance
Horizon's Irish jig
Why Horizon values Vidara's Irish tax benefit at $100M or more
March 24, 2014 7:00 AM UTC
Horizon Pharma Inc. (NASDAQ:HZNP) thinks Vidara Therapeutics International Ltd.'s lone drug, Actimmune interferon gamma-1b, by itself justifies the $660 million price tag for last week's acquisition. Thus, Horizon expects it is getting the tax benefits of Vidara's Irish domicile for free.
On March 19, the specialty pharma said it will acquire Vidara through a reverse merger in a cash and stock deal. The combined company will be renamed Horizon Pharma plc and organized under Irish law while continuing to trade on NASDAQ...