A Look at Top Picks of This Billion-Dollar Healthcare-Focused Fund

#1 Horizon Pharma PLC (NASDAQ:HZNP)

Shares held (as of September 30): 8.08 million
Total Value (as of September 30): $160.17 million
Percent of Portfolio (as of September 30): 6.20%

Although Deerfield trimmed its holding in Horizon Pharma PLC (NASDAQ:HZNP) by 34%, it still had 8.08 million shares, good for 6.2% of its portfolio. After withdrawing its merger offer for Depomed, Horizon Pharma continued its acquisition spree by buying Crealta Holdings LLC for $510 million in cash. Crealta Holdings LLC makes Krystexxa, a later-line enzyme indicated for the treatment of chronic gout for adults. Management estimates the acquisition will add between $45 million and $50 million to Horizon’s non-GAAP EBITDA in the first year after it’s completed. Shares of Horizon have stabilized in recent weeks as investors worry less about potential drug pricing regulation from Washington. A total of 44 funds from our database, amassed stakes equal to nearly 36% of the company’s outstanding stock heading into the fourth quarter.

Disclosure: none