Amgen and Horizon Resolve FTC Lawsuit, Clearing Path to Close Acquisition
September 1, 2023
Rare Daily Staff
In a brief statement, Amgen and Horizon Therapeutics said a consent order agreement was entered into with the Federal Trade Commission that resolves the pending FTC administrative lawsuit and clears the path to take the final steps to close Amgen’s $28 billion acquisition of Horizon.
As a result of the consent order agreement, Amgen and Horizon expect that the parties will jointly file stipulated proposed orders to dismiss the preliminary injunction motion and dissolve the temporary restraining order in the U.S. District Court for the Northern District of Illinois, and that Amgen and Horizon will quickly seek the final approvals required under Irish law to close the acquisition.
Amgen has consistently stated to the FTC, the courts and the public that it has no reason, ability or intention to bundle Horizon’s two products—Tepezza, used to treat thyroid eye disease, and Krystexxa, used to treat chronic refractory gout—with any of its products. This narrow assurance, formalized in the consent order with the FTC, will have no impact on Amgen’s business.
The deal is a major step into the world of rare diseases therapeutics for Amgen, following the company’s acquisition of ChemoCentryx for $4 billion in August 2022. The acquisition will broaden Amgen’s pipeline as the company faces biosimilar competition for some of its top drugs.
The companies anticipate being able to close the acquisition in the early fourth quarter 2023.
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