Tag Archives: hznp

Depomed Says Horizon Offered To Raise Bid — Sort Of

Horizon Pharma (HZNP) stock dipped despite an earnings beat Friday, as Depomed (DEPO) rebuffed another takeover attempt. In a letter to Horizon CEO Timothy Walbert, Depomed CEO James Schoeneck wrote that Walbert had told him Horizon was prepared to raise its offer with a cash component up to 25%. Horizon’s previous proposal was all in stock, and reportedly worth $33 a share, though the exact quantity of stock involved wasn’t disclosed. “Yet you

Horizon Pharma Raises Bid For Depomed; Both Stocks Up

Specialty drugmaker Horizon Pharma (HZNP) raised its unsolicited offer for Depomed (DEPO) Wednesday, sending both stocks up. Horizon proposed a deal worth $33 a share, all in Horizon stock, up from its earlier bid of $29.25, which Depomed rejected. The market seemed to anticipate such a move, since Depomed was already at 32.73 at Monday’s close, and in fact last week Roth Capital analyst Scott Henry raised his price target on Depomed to 33

Horizon Pharma Hits High As Q2 Sales Beat Street

Specialty drugmaker Horizon Pharma (HZNP) jumped to a new high in early trading Monday after it issued strong preliminary Q2 sales and raised its full-year guidance. Horizon said sales in the quarter were about $170 million to $172 million, roughly a 160% increase over the year-earlier quarter and more than $40 million above analysts’ consensus, according to Thomson Reuters. It didn’t release any earnings numbers, but said Q2 EBITDA margin should