Amgen completes $27.8 bln Horizon deal (updated)

Horizon Therapeutics

06/10/2023 14:11

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       Oct 6 (Reuters) - Amgen  AMGN.O  said on Friday it had
completed the $27.8 billion acquisition of Horizon Therapeutics
 HZNP.O  after it received the go-ahead from the U.S. Federal
Trade Commission (FTC) last month on certain conditions.
    Under the settlement terms with the FTC following its
lawsuit to block the deal, Amgen is prevented from using
anticompetitive tactics to extend the market dominance of
Horizon's thyroid eye disease treatment Tepezza and gout drug
Krystexxa.
        The FTC's antitrust lawsuit had raised concerns over
increased oversight on mergers and acquisitions in a sector that
often turns to consolidation to power future growth as patents
on older treatments expire.
  
        The deal 
    closure
     was within the fourth-quarter timeline set by the two
companies.
  

 (Reporting by Mariam Sunny in Bengaluru; Editing by Anil
D'Silva)
 ((Mariam.ESunny@thomsonreuters.com;))