Amgen to buy Horizon Therapeutics in $26.4 billion deal

Amgen volition get Horizon Therapeutics, a biopharmaceutical institution that focuses connected treatments for rare, autoimmune diseases, successful a woody valued astatine astir $26.4 billion.

Each Horizon shareholder volition person $116.50 per stock for each stock they own. Amgen said Monday that the woody has an endeavor worth of astir $28.3 billion.

U.S.-traded shares of Horizon soared astir 30%, past $100, aft the institution confirmed precocious past period that it had begun "highly preliminary discussions" astir an acquisition with Amgen, the French drugmaker Sanofi, and Johnson & Johnson's Janssen division.

Amgen confirmed discussions were taking spot successful aboriginal this period and said astatine the clip that immoderate connection it made for Horizon apt would beryllium successful cash, but besides that determination was nary warrant an connection would beryllium made.

A time later, Johnson & Johnson said that it did not mean to marque an offer.

Horizon Therapeutics, based successful Dublin, develops imaginable treatments for rare, autoimmune and terrible inflammatory diseases. Its best-seller, Tepezza, is lone approved successful the United States and treats oculus bulging and treble imaginativeness from thyroid oculus disease.

U.S. regulators approved Tepezza successful aboriginal 2020 arsenic the archetypal attraction for thyroid oculus disease. The drug's income much than doubled past twelvemonth to $1.67 billion. That's astir fractional of the company's full income of $3.23 billion.

The FDA gave Tepezza "orphan drug" status, which comes with fiscal incentives and exclusive marketing, benefits that are intended to promote drugmakers to make uncommon illness treatments.

Horizon besides makes Krystexxa for uncontrolled gout. Sales of that attraction grew 39% past twelvemonth to $565.5 million.