Horizon Pharma plc Announces Waiver of Financing Proceeds Condition

DUBLIN, IRELAND and BRISBANE, CA--(Marketwired - Apr 30, 2015) - Horizon Pharma plc (NASDAQ: HZNP), a specialty biopharmaceutical company focused on improving patients' lives by identifying, developing, acquiring and commercializing differentiated products that address unmet medical needs, today announced that its affiliates, Horizon Pharma, Inc. ("Parent") and Ghrian Acquisition, Inc. ("Purchaser"), waived the "Financing Proceeds Condition" described in the Offer to Purchase in connection with the previously announced tender offer to acquire all of the outstanding shares of common stock of Hyperion Therapeutics, Inc. (NASDAQ: HPTX) ("Hyperion") for $46.00 per share in cash, net to the seller in cash, without interest and less any applicable withholding taxes, if any. The tender offer is scheduled to expire at 12:01 a.m. (New York City time) on Thursday, May 7, 2015, unless further extended or earlier terminated. All other terms and conditions of the tender offer remain unchanged, including, without limitation, the "Minimum Condition" described in the Offer to Purchase.

The tender offer is being made in connection with the Agreement and Plan of Merger, dated as of March 29, 2015 (the "Merger Agreement"), among Hyperion, Parent and Purchaser. Pursuant to the Merger Agreement, after completion of the tender offer and the satisfaction the remaining conditions set forth in the Merger Agreement, the Company will merge with and into Purchaser and all outstanding shares of Hyperion's common stock, other than shares held by Parent, Purchaser or Hyperion, or shares held by Hyperion's stockholders who are entitled to and properly demand and perfect appraisal of such shares pursuant to the applicable provisions of Delaware law, will be automatically cancelled and converted into the right to receive cash equal to the $46.00 offer price per share. The Board of Directors of Hyperion has unanimously approved the proposed acquisition by Horizon Pharma plc and recommends that Hyperion stockholders tender their shares in the tender offer.