(AOF) – Horizon Therapeutics confirmed press reports that it was engaged in “very preliminary” discussions with Amgen, Janssen (Johnson & Johnson) and Sanofi, stressing that there is “no certainty that a offer will be made on the company”. This Irish biotech company, specialist in rare and autoimmune diseases, is expected to rise more than 30% before the opening of the Nasdaq. It had a capitalization of nearly $18 billion at the close on Tuesday.
Following this information, Sanofi posted the largest drop in the CAC 40, -2.60% to 80.90 euros.
Invest Securities points out that this will be a major acquisition for Sanofi, whose largest acquisition was Genzyme, acquired in 2011 for $20 billion. “Horizon specializes in orphan autoimmune diseases and would thus, like Genzyme in 2011, be a good addition to Sanofi’s portfolio,” explains the broker.
Each of Horizon’s takeover candidates is required to announce whether or not it has a firm intention to make an offer for the company by 5:00 p.m. (New York time) on January 10, 2023.