Horizon Therapeutics slumps as US FTC sues to block Amgen's $27.8 bln deal

Horizon Therapeutics

16/05/2023 16:17

(Updates)
    ** Shares of biotechnology company Horizon Therapeutics Plc
 HZNP.O  slide 15% to $95.30, drugmaker Amgen Inc  AMGN.O  falls
nearly 1% to $231.40
    ** The U.S. Federal Trade Commission says it will sue to
stop Amgen's $27.8 bln deal to buy Horizon
    ** Earlier in the day, Jefferies said it estimates a
potential delay of more than 3-5 months for legal timeline and
more clarity on deal by Fall 2023
    ** Nearly 10 mln HZNP shares change hands, more than 5 times
the stock's monthly average trading volume - Refinitiv
    ** HZNP shares down 15.9% YTD; AMGN down 11.9% YTD

 (Reporting by Medha Singh and Nandhini Srinivasan in Bengaluru)
 ((medha.singh@thomsonreuters.com))