US: Horizon Pharma buys Crealta Holdings for $510 million cash

Horizon Pharma said today it has agreed to acquire Crealta Holdings for $510 million in cash, in a deal that expands and broadens the buyer’s orphan drug business.

The deal reflects Horizon Pharma’s long-range plan, which calls for orphan drugs to account for approximately 60% of net sales in 2020. The acquisition adds Crealta’s marketed KRYSTEXXA®, the first and only FDA-approved treatment for chronic refractory gout, to Horizon Pharma’s offerings.

Since the biologic was approved in 2010, between 4,000 and 5,000 patients have been treated with KRYSTEXXA, Horizon Pharma said.

Crealta inherited KRYSTEXXA after acquiring Savient Pharmaceuticals for about $120.4 million, in a deal approved in December 2013 by the U.S. Bankruptcy Court for the District of Delaware. Horizon Pharma noted that KRYSTEXXA enjoys intellectual property protection through 2027.

“We expect to expand the number of patients identified and treated with KRYSTEXXA. As with all of our orphan medicines, we plan to maximize additional development opportunities of KRYSTEXXA,” Timothy Walbert, Horizon Pharma’s chairman, president and CEO, said in a statement.

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