Big pharma deal blocked by FTC Amgen’s $27.8B takeover of Horizon Therapeutics halted. Read about the latest News in the pharmaceutical industry.
Amgen : Biopharmaceutical Company
Amgen is a multinational biopharmaceutical company based in the United States. It specializes in the development and manufacturing of innovative drugs to treat various diseases. Founded in 1980, Amgen has become one of the largest biotechnology companies in the world.
Amgen focuses on the discovery and production of therapeutics primarily in the areas of oncology (cancer treatment), nephrology (kidney disease), inflammation, and cardiovascular diseases. The company has developed several groundbreaking drugs that have significantly improved patient outcomes and quality of life.
One of Amgen’s notable drugs is Enbrel, used to treat autoimmune diseases like rheumatoid arthritis and psoriasis. Enbrel has been a blockbuster drug for Amgen, generating substantial revenue. Additionally, the company has a strong presence in the field of rare diseases, with drugs like Tepezza and Krystexxa that have received orphan drug designation.
Amgen is known for its commitment to scientific research and development. It invests heavily in cutting-edge technologies and collaborations to advance medical innovation. The company also actively engages in clinical trials and collaborations with academic institutions, healthcare organizations, and other industry partners to explore new treatment options.
As a global pharmaceutical company, Amgen operates in multiple countries and markets its products worldwide. It is dedicated to providing patients with access to life-saving and life-improving therapies, while also focusing on sustainability and corporate responsibility.
Overall, Amgen plays a significant role in the biopharmaceutical industry, striving to address unmet medical needs and make a positive impact on patients’ lives through scientific advancements and the development of innovative therapies.
FTC Blocks Amgen’s $27.8B Horizon Therapeutics Deal
The Federal Trade Commission (FTC) has blocked Amgen’s acquisition of Horizon Therapeutics, according to a source.
The U.S. Federal Trade Commission (FTC) is planning to file a lawsuit to block Amgen’s $27.8 billion acquisition of Horizon Therapeutics.
Amgen had agreed to buy Horizon last year to strengthen its rare diseases drugs portfolio.
The company aimed to complete the acquisition in the first half of this year, but the FTC’s lawsuit may hinder the deal.
Senator Elizabeth Warren expressed concerns about the acquisition, citing both companies’ price increases on their medications.
Amgen disagreed with Warren’s analysis. The FTC’s move to sue and prevent a pharmaceutical deal is unusual, as it typically requires divestment of certain treatments.
The acquisition would provide Amgen with two fast-growing drugs, Tepezza and Krystexxa, which have orphan drug designation.
Tepezza sales rose in 2022 but fell in the latest quarter, while Krystexxa brought in significant revenue last year and is projected to increase in the future.
The FTC has prevented Amgen’s deal to acquire Horizon Therapeutics.
- The decision was made by the Federal Trade Commission.
- The acquisition of Horizon Therapeutics by Amgen has been blocked.
- The source of the information is anonymous.
- The FTC’s action prohibits the completion of the deal.
- The decision was made on May 16, 2023.
The Federal Trade Commission (FTC) has blocked Amgen’s acquisition of Horizon Therapeutics, preventing the deal from being completed.
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