FTC sues to block Amgen’s acquisition of Horizon Therapeutics

The Federal Trade Commission is suing to block biopharma giant Amgen Inc.’s AMGN proposed acquisition of Horizon Therapeutics PLC HZNP, saying the deal would allow Amgen to “entrench the monopoly positions” of Horizon treatments for two serious medical conditions.

By acquiring Horizon, Amgen could use rebates on its blockbuster drugs to pressure insurance companies and pharmacy benefit managers to favor Horizon treatments for thyroid eye disease and chronic refractory gout, the FTC said. Those treatments, Tepezza and Krystexxa, have no competitors, the agency said.

The proposed $27.8 billion deal, announced late last year, is the largest pharmaceutical transaction announced in 2022, the FTC said. Amgen made a commitment not to “bundle,” or offer multiproduct discounts tied to the Horizon products at issue in the FTC complaint, the company said in its statement. Horizon said in a statement that it also has no plans to bundle any of its rare-disease treatments and that the deal “has the potential to accelerate the availability of important rare disease medicines to more patients worldwide.”

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FTC sues to block Amgen acquisition of Horizon TherapeuticsThe deal was a bid to strengthen Amgen's drug portfolio as it prepares to face several patent expirations for key treatments over the next decade.
مصدر: CNBC - 🏆 12. / 72 اقرأ أكثر »

FTC sues to block $27.8 billion acquisition of Horizon Therapeutics, which has U.S. headquarters in DeerfieldThe suit marks the first time the FTC has tried to stop a pharmaceutical merger in years
مصدر: ChicagoBreaking - 🏆 521. / 51 اقرأ أكثر »