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...Amgen said the deal was now expected to close early in the fourth quarter. Shares in Amgen ended the day largely flat, while Horizon rose 2.3 per cent....
...But the reality of the Amgen settlement may be somewhat more complex than the Wall Street summation....
...The FTC says Amgen is skilled at bundling its drugs in its PBM negotiations. Adding Horizon would give Amgen excessive leverage in such horse-trading, the FTC claims....
...Regeneron claims Amgen incentivised payers to buy its drugs by “bundling” it with other popular treatments. Amgen declined to comment on Schleifer’s remarks....
...Amgen and Horizon indicated they would try to complete the deal by fighting the FTC in court....
...The FTC attempted to block Amgen’s $28.3bn takeover of Horizon Therapeutics. Barriers to M&A are going to make it harder for pharma companies to replenish drug pipelines....
...Amgen and Horizon have both said they will try to fight the FTC in court in order to complete the transaction....
...The FTC case against Amgen-Horizon is also a break from the past. Amgen wants to acquire Horizon to gain two blockbuster drugs that currently face little competition....
Expensive medicines made by Pfizer, J&J and Merck selected for talks in biggest shake-up in decades
...Its — untested — argument is that Amgen could use rebates on its blockbusters to encourage insurers and pharmacy benefit managers to favour Horizon’s drugs....
...The Federal Trade Commission’s decision on Tuesday to file a lawsuit to block Amgen’s $28.3bn deal to acquire Horizon Therapeutics was unexpected as most of the people involved didn’t think there was an...
...enforcers The Japanese company buying US Steel The plan to rescue Farfetch Regulators even out the antitrust score Global regulators had been on a losing streak lately, with back-to-back losses including Amgen...
...The list of top performers is littered with defensive healthcare names (Eli Lilly, Amgen, Regeneron, McKesson) whereas the worst performers are a who’s who of highly levered economically sensitive stocks...
...Merck, Bristol Myers Squibb and Amgen have all used these aggressive tactics to protect blockbuster drugs from competition, said O’Reilly....
...The Federal Trade Commission sued to block the biotechnology company Amgen’s $28.3bn deal to acquire Horizon Therapeutics, Italy is struggling to spend €200bn in EU Covid recovery funds, and Ukraine said...
...Together the three drugs account for 37 per cent of Amgen’s $26bn in revenue last year. Horizon will give Amgen a stronger foothold in the lucrative rare disease drug space....
...“Horizon will drive growth in Amgen’s revenue and non-GAAP earnings per share, and is expected to be accretive from 2024.”...
...The takeover would give Amgen access to Horizon’s pipeline of drugs for rare autoimmune and inflammatory diseases, including its blockbuster treatment Tepezza....
...In November Amgen published early-stage trial data showing patients on a high dose of its drug candidate Amgen 133 lost almost 15 per cent of body weight in just 85 days....
...Late last year, Amgen bought Horizon Therapeutics for $28bn. Biotech and life science valuations have moderated since 2021. But the chance for premium buyouts has not disappeared....
...Jonathan Kanter, her fellow enforcer at the US Department of Justice, intend to follow through on their mission to draw a tougher line on antitrust.Still outstanding are large contested deals, including Amgen...
...The deal follows Amgen’s $28.3bn acquisition of the Californian biotech Horizon Therapeutics in December. In 2023, Seagen expects revenue of about $2.2bn, a 12 per cent rise year on year....
...Illumina’s market capitalisation is roughly $33bn, about a quarter of Amgen’s and well below Pfizer’s $246bn valuation....
...It’s litigating an order for Illumina to divest cancer screening company Grail in a vertical merger case and has also sued to block Amgen’s $28bn takeover of Horizon Therapeutics....
...Having been legally shielded until now, the drug this year faces competition from nine “biosimilars” such as Amgen’s Amjevita....
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