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Feb. 1, 2021, 7:27 a.m. EST

UPDATE: Horizon Therapeutics to acquire Viela Bio in deal with equity value of $3.05 billion

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By Ciara Linnane

Horizon Therapeutics Plc /zigman2/quotes/206690250/composite HZNP -0.17% said Monday it has agreed to acquire Viela Bio Inc. for $53 a share in cash, or an equity value of about $3.05 billion. The deal is expected to close by the end of the first quarter. "Adding Viela's research and clinical development capabilities along with its deep, mid-stage biologics pipeline to our seasoned R&D and commercial teams, advances our transformation to an innovation-driven biotech company where we will build on the success of TEPEZZA and KRYSTEXXA to bolster our long-term growth trajectory, Horizon Chief Executive Tim Walbert said in a statement. "We intend to maximize the full potential of Viela's pipeline, including the pursuit of additional future indications." Horizon will finance the deal using cash on hand and $1.3 billion of external debt. Separately, AstraZeneca plc /zigman2/quotes/200304487/composite AZN -1.78% [ /zigman2/quotes/203048482/delayed UK:AZN -1.02% said it has agreed to divest its 26.7% ownership in Viela as part of the deal, and expects to receive cash proceeds and profit of about $760 million to $780 million. Viela shares were halted premarket for the news.

US : U.S.: Nasdaq
$ 86.42
-0.15 -0.17%
Volume: 2.26M
Jan. 21, 2022 4:00p
P/E Ratio
Dividend Yield
Market Cap
$19.64 billion
Rev. per Employee
US : U.S.: Nasdaq
$ 59.10
-1.07 -1.78%
Volume: 5.89M
Jan. 21, 2022 4:00p
P/E Ratio
Dividend Yield
Market Cap
$187.08 billion
Rev. per Employee
UK : U.K.: London
8,752.00 p
-90.00 -1.02%
Volume: 1.75M
Jan. 21, 2022 4:35p
P/E Ratio
Dividend Yield
Market Cap
£137.00 billion
Rev. per Employee

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