Horizon Therapeutics: rise expected after the FTC drops ballast on the takeover by Amgen – 08/28/2023 at 14:39

(AOF) – Horizon Therapeutics is expected to rise more than 5% in pre-market on Wall Street after the US Federal Trade Commission (FTC) suspended its challenge to the acquisition of the company by Amgen for 27.8 billion dollars. dollars. Amgen said it was prepared to demonstrate to the courts that there was no legal or factual reason to bar the takeover, expected by mid-December 2023. through lengthy legal proceedings,” the company said in a statement.

The FTC filed a lawsuit May 16 to block the deal, fearing that Amgen was using its large drug sales to pressure insurance companies and drug benefit managers to grant favorable terms for Horizon’s two flagship products – Tepezza, a treatment for the rapidly growing thyroid eye disease, and Krystexxa, a gout drug.

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