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Horizon Pharma purchases interferon assets from Boehringer Ingelheim for €25M

  • Horizon Pharma plc (NASDAQ:HZNP) acquires the rights to interferon gamma-1b, marketed under the brand names IMUKIN, IMUKINE, IMMUKIN and IMMUKINE, from Boehringer Ingelheim International GmbH. The products are sold in 30 countries in Europe and the Middle East.
  • Under the terms of the agreement, Boehringer will receive €5M upon signing and €20M upon closing, expected to occur by year end. Horizon will own global rights to the products except the U.S., Canada and Japan.
  • In a separate deal, Horizon licensed the U.S. Canadian and European rights for interferon gamma-1b for the treatment Friedreich's ataxia to an undisclosed third party.
  • Horizon will immediately begin investing in manufacturing, supply chain, regulatory and commercial activities to support the new business. The investments will trim ~$10M from its 2016 EBITDA guidance.

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Horizon Therapeutics Public Limited Company