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BRIEF-Horizon Pharma to sell Procysbi, Quinsair EU marketing rights

May 23 Horizon Pharma Plc

* Horizon pharma plc announces agreement to sell european marketing rights to procysbi® (cysteamine bitartrate) delayed-release capsules and quinsair™ (levofloxacin inhalation solution) in europe, middle east and africa (emea) regions to chiesi farmaceutici

* Horizon pharma plc - deal for an upfront payment of $70 million

* Horizon pharma plc - horizon will maintain control of manufacturing supply in emea regions through its third party supplier.

* Horizon pharma plc - in addition, horizon will maintain marketing rights for procysbi and quinsair in united states, canada and latin america

* Horizon pharma - co anticipates a reduction of approximately $15 million in full-year 2017 net sales related to procysbi and quinsair in emea regions

* Horizon pharma plc - divested subsidiary has facilities in netherlands, france and germany and has approximately 40 employees

* Horizon pharma plc - anticipates a reduction of approximately $15 million in full-year 2017 net sales related to procysbi and quinsair in emea regions

* Horizon pharma plc - no change to horizon's full-year 2017 adjusted ebitda guidance range of $315 million to $350 million

* Sees fy 2017 revenue $985 million to $1.02 billion

* Horizon pharma plc - assuming a second-quarter 2017 transaction close, horizon anticipates a neutral impact on its full-year 2017 adjusted ebitda

* Fy2017 revenue view $999.4 million -- Thomson Reuters I/B/E/S

* Horizon pharma plc - deal includes additional potential milestone payments based on sales targets Source text for Eikon: Further company coverage:

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