market folly

Steve Mandel's hedge fund firm Lone Pine Capital has filed a 13G with the SEC regarding shares of Horizon Pharma (HZNP).

Per the filing, Lone Pine now owns 5.4% of Horizon Pharma with over 8.35 million shares.  This is a newly disclosed equity position for the hedge fund as they previously didn't report ownership as of the end of the first quarter.  The filing was made due to activity on July 17th.

For more from this hedge fund, we recently posted about one of Lone Pine's short positions.


Per Google Finance, Horizon Pharma is "formerly Vidara Therapeutics International Public Limited Company, is a specialty biopharmaceutical company focused on identifying, developing, acquiring or in-licensing and commercializing differentiated products that address unmet medical needs. The Company markets a portfolio of products in arthritis, inflammation and orphan diseases. The Company's the United States marketed products are ACTIMMUNE (interferon gamma-1b), DUEXIS (ibuprofen/famotidine), PENNSAID (diclofenac sodium topical solution) 2% w/w (PENNSAID 2%), RAYOS (prednisone) delayed-release tablets and VIMOVO (naproxen/esomeprazole magnesium). The Company developed DUEXIS and RAYOS/LODOTRA, has the United States rights to VIMOVO, has the United States rights to ACTIMMUNE and has the United States rights to PENNSAID 2%."