Ireland-based specialty drugmaker Horizon Pharma announced Friday it has agreed to acquire Lake Forest-based Crealta Holdings for $510 million in cash.
Crealta owns Krystexxa, the first and only FDA-approved medicine to treat chronic refractory gout, an orphan disease and a type of arthritis.
Horizon said it expects the deal to add $70 million to $80 million to net sales and $45 million to $50 million in adjusted EBITDA in the first year after the deal closes.
"The Crealta acquisition further diversifies our portfolio of medicines and aligns with our focus of acquiring value-enhancing, clinically differentiated, long-life medicines that treat orphan diseases," said Horizon CEO Timothy P. Walbert in a statement.
Fast-growing Horizon announced in October that it will move its U.S. headquarters to Lake Forest, where it plans to triple its suburban Chicago employee count to 600 in the coming years.
Horizon has leased about 133,000 square feet at 150 S. Saunders Road in the north suburb, where it plans to move in January, the company said. As of October, Horizon had about 200 workers in its U.S. headquarters at 520 Lake Cook Road in Deerfield, where it leases 53,500 square feet.
Last year, Horizon officially shifted its headquarters to Dublin, before Congress clamped down on such tax-reducing moves, known as “inversions.” The company has nearly 800 employees in the Chicago area, Northern California, Georgia, Ireland, Germany and Switzerland, Walbert said in October.
Horizon Pharma to buy Lake Forest company for $510 million in cash originally appeared in Crain's Chicago Business.