Amgen up after Horizon Therapeutics sees Tepezza sales rise

Horizon Therapeutics

08/08/2023 16:50

** Shares of Amgen Inc  AMGN.O  rise 3.7% to $262.31
    ** Horizon Therapeutics  HZNP.O , which AMGN currently
expects to acquire by mid-December, posts 10% sequential
increase to $446 mln in Q2 sales of thyroid eye disease drug
Tepezza
    ** In April, the U.S. FDA approved an expanded label for the
drug allowing unrestricted access for patients across full
spectrum of Thyroid Eye Disease
    ** The label just got updated and reimbursement progress is
still getting underway which bodes well for AMGN in 2024 -
Jefferies
    ** Positive data from Danish drugmaker Novo Nordisk's
 NOVOb.CO  obesity drug Wegovy and strong demand of Eli Lilly
and Co's  LLY.N  Mounjaro continues to be positive for AMGN
    ** AMGN's experimental AMG133 showed a mean weight loss of
14.5% in an early stage trial
    ** U.S. FTC is delaying co's planned acquisition of HZNP
over concerns AMGN could leverage its big selling drugs to
pressurise insurance companies and pharmacy benefit managers to
favor Horizon's two key products Tepezza and gout drug Krystexxa
over potential competitors
    ** AMGN down marginally YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))