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FTC allows Amgen to move forward with $27.8 billion Horizon Therapeutics acquisition

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The FTC had filed a lawsuit in May seeking to block the acquisition, arguing that the deal would 'stifle competition' in the pharmaceutical industry.

Shares of Horizon rose nearly 3% in premarket trading Friday. Amgen's stock edged up slightly.Amgen first moved to buy Horizon in December 2022 in an effort to gain access to the latter's rare disease assets, including the thyroid eye disease therapy Tepezza.

In its lawsuit, the FTC said that the deal would allow Amgen to "entrench the monopoly positions" of Horizon's fast-growing medications, including Tepezza, and Krystexxa, a gout medicine.

 

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