Horizon Therapeutics Plc HZNP, -0.89% said Monday it has agreed to acquire Viela Bio Inc. VIE, -1.39% 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 AZN, -2.77% [ AZN, +0.35% 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.
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