Horizon Therapeutics rises after US FTC pauses challenge to block Amgen deal

Horizon Therapeutics

28/08/2023 11:36

** Shares of Ireland-based drugmaker Horizon Therapeutics
Plc  HZNP.O  rise 4.99% to $111.99 premarket
    ** The U.S. Federal Trade Commission (FTC) has suspended its
challenge of Amgen's  AMGN.O  $27.8 billion proposed purchase of
HZNP, allowing the regulator to consider whether it should
settle the case
    ** The pause is effective until Sept 18
    ** The FTC filed a lawsuit in May opposing the deal because
of concern that AMGN would leverage its popular drugs to
pressure insurance cos and pharmacy benefit managers to give
favorable terms to HZNP's thyroid eye disease treatment Tepezza
and gout drug Krystexxa
    ** Up to last close, HZNP stock down ~6% YTD

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