Published on 4 Sep 2023 on Zacks via Yahoo Finance
FTC Allows Amgen (AMGN) to Proceed With $28B Horizon Buyout
On Friday, the Federal Trade Commission (“FTC”) allowed biotech giant Amgen AMGN to complete its $28-billion acquisition of Horizon Therapeutics HZNP.
Though the resolution does not include any financial settlement, it does carry many stipulations and restrictions.
Per the mutually-agreed terms, Amgen is prohibited from bundling any of its products with Horizon Therapeutics’ two essential products — Tepezza (approved for treating thyroid eye disease) and Krystexxa (approved for treating chronic refractory gout). Amgen also cannot use any product rebate or contract term to exclude or disadvantage any product that would compete with those drugs.