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Horizon Therapeutics

All articles tagged with #horizon therapeutics

healthcare2 years ago

Amgen's Strategic Moves: From Scrapping Cancer Drug to Boosting Obesity Drug Sales

Amgen reported strong Q3 earnings and raised its full-year revenue guidance. The company completed its acquisition of Horizon Therapeutics, expanding its portfolio with drugs like Tepezza. Amgen is also venturing into the obesity drug space, with enrollment completed for its drug Mari in a phase 2 trial. The company aims to build a platform for obesity treatment and expects top-line data from the phase 2 trial by the end of 2024. Amgen is optimistic about its rare disease business and plans to expand the reach of Tepezza to more prescribers and internationally.

via Yahoo Finance|
#amgen#healthcare#horizon-therapeutics
business2 years ago

Amgen's $27.8B Acquisition of Horizon Therapeutics Finalized

Amgen has completed its $27.8 billion acquisition of Horizon Therapeutics after receiving approval from the U.S. Federal Trade Commission (FTC). As part of the settlement, Amgen is prohibited from using anti-competitive tactics to extend the market dominance of Horizon's thyroid eye disease treatment Tepezza and gout drug Krystexxa. The deal is expected to contribute to Amgen's adjusted earnings from next year, and analysts believe Tepezza could be a significant revenue driver for the company, potentially generating $3.9 billion in peak sales.

via Reuters|
#acquisition#amgen#business
business2 years ago

FTC Clears Amgen's $27.8B Acquisition of Horizon Therapeutics

The Federal Trade Commission (FTC) has reached a deal with Amgen, allowing the drug giant's $27.8 billion acquisition of Horizon Therapeutics to proceed. The FTC had previously filed a lawsuit to block the deal, citing concerns about competition in the pharmaceutical industry. However, the agency temporarily suspended the suit to consider a settlement. Amgen's purchase of Horizon is aimed at gaining access to rare disease assets, including the thyroid eye disease therapy Tepezza. The FTC argued that the acquisition would strengthen Horizon's monopoly positions and enable Amgen to pressure insurers and benefit managers through cross-market bundling.

via CNBC|
#acquisition#amgen#business
business2 years ago

FTC Pauses Challenge to Amgen-Horizon Deal for Settlement Talks

The Federal Trade Commission (FTC) has suspended its challenge of Amgen's acquisition of Horizon Therapeutics to review a potential settlement, causing Horizon Therapeutics shares to rise. Chinese EV maker XPeng announced a strategic partnership with ride-hailing provider Didi, leading to a 4.5% increase in XPeng's ADRs. 3M has agreed to pay over $5.5 billion to settle lawsuits over defective combat earplugs sold to the U.S. military. Fisker shares rose after the company announced its expansion into more European markets. Alibaba and JD.com ADRs increased after China announced a reduction in the tax on security transactions in its stock markets.

via Investopedia|
#3m#amgen#business
business2 years ago

"XPeng and VinFast Lead Today's Stock Market Surge (NYSE:XPEV)"

VinFast and Xpeng experience significant stock gains in premarket trading, with VinFast's market cap surpassing that of Ford and General Motors. Horizon Therapeutics sees a 5.4% increase after the Federal Trade Commission drops its in-house trial challenging Amgen's acquisition. Xpeng announces a $744M deal with Didi, acquiring Didi's smart electric car assets and planning to launch its first electric car model.

via Seeking Alpha|
#business#horizon-therapeutics#stock-market
business2 years ago

Multiple States Unite to Halt Amgen Acquisition, Led by California and FTC.

Six US states, including California, New York, and Illinois, have joined the Federal Trade Commission (FTC) in a lawsuit to block Amgen's $27.8 billion acquisition of Horizon Therapeutics. The FTC had previously filed a suit opposing the deal, citing concerns over Amgen's potential monopoly positions in the markets for medicines used to treat thyroid eye disease and chronic refractory gout. Amgen has stated that it believes the deal has no legitimate competitive issues.

via Reuters|
#amgen#business#ftc
business2 years ago

Amgen's Horizon deal delayed by FTC antitrust concerns.

The Federal Trade Commission's antitrust case against Amgen is an example of regulatory overreach, as the company's acquisition of a drug from another company did not harm competition. The case is being pushed by FTC Chair Lina Khan, who has a history of advocating for aggressive antitrust enforcement. The case could have negative consequences for innovation in the pharmaceutical industry.

via The Wall Street Journal|
#amgen#antitrust#business
business2 years ago

FTC's Effort to Block Amgen-Horizon Deal Could Impact Horizon's Stock Value.

Horizon Therapeutics expects its $27.8 billion sale to Amgen to close as early as the end of Q3 2023, earlier than previously planned, if the Federal Trade Commission's attempt to block the deal fails. The FTC filed a lawsuit seeking to halt the acquisition, arguing it would "stifle competition" in the pharmaceutical industry. If completed, the deal would give Amgen access to Horizon's blockbuster thyroid eye disease drug, Tepezza, and its gout medicine, Krystexxa.

via CNBC|
#acquisition#amgen#business
business2 years ago

FTC Lawsuit Doesn't Deter Amgen's $28B Deal with Horizon, Analysts Remain Optimistic.

Amgen CEO, Robert Bradway, remains confident that the $28 billion deal with Horizon Therapeutics will close despite the FTC lawsuit filed to block the merger. The FTC argues that the merger would allow Amgen to use rebates on its existing drugs to pressure insurance companies and pharmacy benefit managers into favoring Horizon’s thyroid eye disease and chronic refractory gout products. The lawsuit is expected to have a significant impact on M&A enthusiasm across the biopharma sector.

via Endpoints News|
#amgen#biopharma#business
business2 years ago

FTC attempts to block Amgen's $27.8 billion deal for Horizon Therapeutics.

The Federal Trade Commission (FTC) has filed a lawsuit to block Amgen's proposed $27.8 billion acquisition of Horizon Therapeutics, citing concerns that Amgen could use its existing blockbuster drugs to pressure insurance companies and industry middlemen into favoring Horizon's leading drugs. The move marks the FTC's first challenge to a pharmaceutical merger in years and could have a chilling effect across the industry. Amgen has said it remains committed to buying Horizon and that the FTC's claim is "entirely speculative."

via The Washington Post|
#amgen#business#drug-pricing
business2 years ago

U.S. Government Opposes Amgen's Acquisition of Horizon Therapeutics.

The Federal Trade Commission has sued to block Amgen's $27.8 billion acquisition of Horizon Therapeutics, citing concerns about competition in the drug industry. The FTC claims that the deal would allow Amgen to use bundling to exploit its size and entrench monopolies for two expensive Horizon drugs. Amgen denies that the merger poses competitive issues and says it will not bundle the two Horizon products. The case will move to court, where the outcome will serve as a litmus test for the ability to use antitrust law to promote affordable access to pharmaceuticals.

via The New York Times|
#amgen#antitrust-concerns#business
business2 years ago

FTC to Block Amgen's Acquisition of Horizon Therapeutics.

Horizon Therapeutics' stock price dropped over 17% in premarket trading after a report that the Federal Trade Commission (FTC) is preparing to file a lawsuit to block the biotech company's $27.8 billion sale to Amgen. The FTC could sue to block the acquisition as soon as Tuesday, Bloomberg reported, citing an unnamed source. The acquisition and another proposed merger in the biopharma industry could "cause further price increases on lifesaving drugs and prevent affordable alternatives from entering the market," according to Sen. Elizabeth Warren.

via CNBC|
#amgen#business#drug-market
business2 years ago

FTC to Block Amgen's Acquisition of Horizon Therapeutics in $27.8 Billion Deal

The US Federal Trade Commission is expected to file a lawsuit to block Amgen's $27.8 billion acquisition of Horizon Therapeutics, according to a source. The deal, which would give Amgen two fast-growing drugs, Tepezza and Krystexxa, is intended to strengthen its rare diseases drugs portfolio. The FTC's decision to sue is unusual, as it typically requires one of the two medicines to be divested.

via Reuters|
#acquisition#amgen#business
business2 years ago

FTC to Sue Amgen Over Horizon Therapeutics Takeover Deal

Horizon Therapeutics' shares fell by 16% in after-hours trading after reports emerged that the Federal Trade Commission (FTC) is preparing to file a lawsuit to block the company's $28bn sale to Amgen. The FTC is expected to argue that the combination may hurt innovation and slow the pace of drug development. The expected FTC challenge also comes as Sen. Elizabeth Warren (D-MA) wrote the FTC in a letter in late January that she had concerns about the Horizon/Amgen deal.

via Seeking Alpha|
#amgen#business#ftc