On Thursday, Shares of Horizon Pharma plc (NASDAQ:HZNP), declined -0.32% to $18.55.
Horizon Pharma, declared that it has filed a definitive proxy statement on Plan 14A with the Securities and Exchange Commission in connection with the extraordinary general meeting of Horizon Pharma shareholders. The principal purpose of the Meeting is to approve the issuance of Horizon ordinary shares in connection with Horizon Pharma’s projected acquisition of Depomed, Inc.
The Extraordinary General Meeting of Horizon Pharma shareholders is presently planned for 4:00 p.m., local time, on Friday, November 13, 2015 at Horizon Pharma’s corporate headquarters — Connaught House, 1st Floor, 1 Burlington Road, Dublin 4, D04 C5Y6, Ireland.
At the Meeting, Horizon Pharma shareholders will also be asked to approve an improvement in the authorized share capital of Horizon Pharma and related proposals to give the Horizon Pharma board an updated authority under Irish law to allot and issue Horizon Pharma ordinary shares and an updated power under Irish law to issue Horizon Pharma ordinary shares for cash without first offering those shares to existing shareholders. Approval by shareholders of these additional share capital proposals, as described in the proxy statement, is not required to complete an acquisition of Depomed, Inc. (counting on a negotiated basis). Shareholders will also be asked to approve any motion to adjourn the Meeting, or any adjournments thereof, to another time and place if necessary or appropriate.
In connection with the offer and the second-step merger with Depomed, Inc. that Horizon Pharma has presently projected, Horizon Pharma has also filed with the SEC, amendment 2 to its registration statement on Form S-4, as formerly amended on September 25, 2015.
Horizon Pharma plc, a specialty biopharmaceutical company, engages in identifying, developing, acquiring or in-licensing, and commercializing medicines for the treatment of arthritis, pain, inflammatory, and/or orphan diseases in the United States and internationally.
On other hand, Shares of Mylan N.V. (NASDAQ:MYL), surged 1.16% to $42.73.
Mylan, has dropped -44.28% from its peak and trades at just 9.01 times forward earnings projections. The consensus price target for the stock is $67.25 a share. The 52-week range is $39.16 - $76.69. Down -9.81% over 12 months, the company has a market cap of $42.01B; its shares recently traded at around $42.73. The P/E ratio is 19.60.
Mylan N.V., through its auxiliaries, develops, licenses, manufactures, markets, and distributes generic, branded generic, and specialty pharmaceuticals worldwide. The company provides generic or branded generic pharmaceutical products in tablet, capsule, injectable, or transdermal patch forms, in addition to active pharmaceutical ingredients (APIs).
