The deal has secured clearance from the US Federal Trade Commission which prohibits Amgen from using any anti-competitive strategies to prolong the market domination of Tepezza and Krystexxa
Amgen has completed the acquisition of Horizon Therapeutics. (Credit: Amgen Inc.)
Amgen has concluded its acquisition of Horizon Therapeutics for $27.8bn after securing clearance from the US Federal Trade Commission (FTC) in September on certain conditions.
The deal includes Horizon’s early-in-lifecycle drugs like Tepezza (teprotumumab-trbw), Krystexxa (pegloticase), and Uplizna (inebilizumab-cdon).
Tepezza is indicated for thyroid eye disease treatment, Krystexxa for chronic gout in adult patients, and Uplizna is intended for neuromyelitis optica spectrum disorder (NMOSD) treatment.
Under the deal, the American biopharmaceutical major has agreed to pay $116.50 per share in cash to Ireland-based Horizon.
As per the settlement agreement with the FTC, Amgen is prohibited from using anti-competitive strategies to prolong the market domination of Tepezza and Krystexxa.
Amgen chairman and CEO Robert Bradway said: “Today marks an exciting milestone as we welcome Horizon employees to Amgen and begin working together to serve even more patients around the world suffering from serious illnesses.
“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.”
The acquisition aligns with Amgen’s strategy of providing medicines for patients suffering from serious diseases. It also bolsters the US giant’s inflammation portfolio.
Horizon will use Amgen’s capabilities in biologics research and development, process development and manufacturing, and presence in over 100 countries globally.
The agreement was finalised within the fourth-quarter timeline set by both parties and is anticipated to increase Amgen’s adjusted earnings from next year.
The deal was signed in December 2022 and the FTC filed a complaint in the US District Court for the Northern District of Illinois in May 2023.
The US regulator challenged the proposed takeover of the Irish biopharmaceutical firm by saying that the deal will enable Amgen to foreclose the rival drugs to Tepezza and Krystexxa and establish their monopoly positions in the market.