Horizon Pharma Inc. (Nasdaq: HZNP) stock jumped more than 15% today (Wednesday) after it announced it will buy privately held Vidara Therapeutics International Ltd. in a cash and stock deal valued at $660 million.
The Deerfield, Ill.-based specialty pharmaceutical firm said the resulting company, Horizon Pharma PLC, will be 26% owned by shareholders of Vidara, which has operations in Dublin and the United States. Vidara shareholders will also share some $200 million in cash.