Shares of Horizon Pharma PLC (NASDAQ:HZNP) ended Friday session in red amid volatile trading. The shares closed down -0.30 points or -1.53% at $19.28 with 4.52 million shares getting traded. Post opening the session at $19.49, the shares hit an intraday low of $18.84 and an intraday high of $19.49 and the price vacillated in this range throughout the day. The company has a market cap of $3.10 billion and the numbers of outstanding shares have been calculated to be 160.90 million shares.
On Sept. 12, 2016 Horizon Pharma PLC (HZNP) and Raptor Pharmaceutical Corp. (RPTP) announced the companies have entered into a definitive agreement under which Horizon Pharma will acquire all of the issued and outstanding shares of Raptor Pharmaceutical Corp. common stock for $9.00 per share in cash, for an implied fully diluted equity value of approximately $800 million. The transaction is expected to close in the fourth quarter of 2016.
“The proposed acquisition of Raptor furthers our commitment to helping people with rare diseases and is a significant step in advancing our strategy to expand our rare disease business,” said Timothy P. Walbert, chairman, president and chief executive officer, Horizon Pharma plc. “Along with the potential for accelerated revenue growth, the addition of Raptor strengthens our U.S. orphan business and provides a platform to expand our orphan business in Europe and other key international markets. We look forward to working with new patient communities and building on the success of the Raptor team.”
Shares of Express Scripts Holding Company (NASDAQ:ESRX) ended Friday session in red amid volatile trading. The shares closed down -0.23 points or -0.33% at $70.21 with 4.47 million shares getting traded. Post opening the session at $70.53, the shares hit an intraday low of $69.79 and an intraday high of $70.66 and the price vacillated in this range throughout the day. The company has a market cap of $44.25 billion and the numbers of outstanding shares have been calculated to be 630.22 million shares.
Express Scripts Holding Company (ESRX) on Sept. 8, 2016 launched its Inflammatory Conditions Care Value Program℠, a comprehensive approach to control costs and improve care for people with inflammatory conditions like rheumatoid arthritis, psoriasis and Crohn’s Disease.
Through the combination of indication-specific formulary management and refunds for early discontinuation of therapy, this new program is the nation’s most comprehensive approach to better align a drug’s price with the value that drug provides a patient.
“Painful inflammatory conditions like rheumatoid arthritis can cripple patients and obliterate payer budgets,” said Glen Stettin, MD, Senior Vice President and Chief Innovation Officer at Express Scripts. “By finding creative ways to take better care of patients and protect our clients’ budgets, Express Scripts is uniquely tackling one of the biggest health challenges facing our country.”
Approximately ten million Americans live with an inflammatory condition. The biologic medications used to treat these conditions became the country’s costliest therapy class in 2015, representing 9.8 percent of all U.S. pharmacy spending. Express Scripts forecasts that, left unchecked, total U.S. spending on these medications will nearly double from 2015 to 2018.