Horizon Pharma Inc : * Announces agreement to acquire U.S. rights to Vimovo(R) and provides 2014 guidance * Sees FY 2014 revenue $190 million to $205 million * Says deal expected to be accretive to non GAAP net income in 2014 * Expects to be profitable in 2014 on a non GAAP basis, based on horizon'sprior GAAP to non GAAP reconciliation practice * Says expects to begin sales of vimovo early in the first quarter of 2014. * Will make a one-time upfront payment of $35 million to Astrazeneca for theU.S. rights to vimovo * Says plans to expand its primary care sales force from 150 representatives toapproximately 250 sales representatives * Will pay a 10% royalty on net sales to POZEN * Payment contingent on patents owned by POZEN which cover vimovo remain in
Horizon Pharma, Inc. operates as a biopharmaceutical company. Shares of HZNP fell by 2.4% or $-0.11/share to $4.47. In the past year, the shares have traded as low as $1.97 and as high as $5.19. On average, 810151 shares of HZNP exchange hands on a given day and today's volume is recorded at 632275.
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