Amgen Completes Acquisition of Horizon for $27.8 Billion
October 6, 2023
Rare Daily Staff
Amgen has completed its acquisition of Horizon Therapeutics for $116.50 per share in cash, representing a transaction equity value of approximately $27.8 billion.
“We have strong momentum in our core business and the addition of Horizon will further position Amgen as a leader across a broader range of diseases.” said Robert Bradway, chairman and CEO of Amgen.
The deal aligns with Amgen’s core strategy of delivering innovative medicines that make a significant difference for patients suffering from serious diseases and strengthens Amgen’s inflammation portfolio by adding Horizon’s three marketed first-in-class medicines, Tepezza, Krystexxa, and Uplizna, which treat rare inflammatory diseases.
Amgen says the acquisition also leverages its world-class capabilities in biologics research and development, process development and manufacturing, as well as Amgen’s presence in more than 100 countries around the world. The deal will also generate robust cash flow to support capital allocation priorities, including ongoing investment in innovation while sustaining a commitment to an investment grade credit rating, accelerate revenue growth, and expected to be accretive to non-GAAP earnings per share from 2024.
Amgen expects to provide updated FY 2023 guidance during its third quarter earnings call.
Photo: Robert Bradway, chairman and CEO of Amgen
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