Horizon Pharma, which is planning commercial launches of its two lead products, which treat ulcers and arthritis pain, announced terms for its IPO on Monday. The Northbrook, IL-based company plans to raise $61 million by offering 5.5 million shares at a price range of $10 to $12. At the mid-point of the proposed range, Horizon Pharma would command a market value of $212 million. Venture-backed Horizon Pharma, which was founded in 2004 and booked $4 million in sales for the 12 months ended March 31, 2011, plans to list on the NASDAQ under the symbol HZNP. Stifel Nicolaus Weisel, Cowen & Company, and JMP Securities are the lead underwriters on the deal.
