BRIEF-Horizon Pharma agrees to buy U.S. rights to AstraZeneca drug Vimovo

Tue Nov 19, 2013 6:11am EST

Nov 19 (Reuters) - 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's

prior 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 the

U.S. rights to vimovo * Says plans to expand its primary care sales force from 150 representatives to

approximately 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

effect and no generic forms of vimovo are on market * Says Astrazeneca will retain ex-U.S. rights to vimovo * FY 2014 earnings per share view $-0.04, revenue view $157.6 million --

Thomson Reuters I/B/E/S * Source text for Eikon * Further company coverage