Amgen acquisition of Horizon Therapeutics clears FTC

Chicago, Sept. 5 – Amgen Inc. announced that its acquisition of Horizon Therapeutics has cleared the Federal Trade Commission after an administrative lawsuit and the entry of a consent order agreement, clearing the path to take the final steps to close the transaction, according to a press release.

As a result of the consent order agreement, Amgen and Horizon expect that the parties will jointly file stipulated proposed orders to dismiss the preliminary injunction motion and dissolve the temporary restraining order in the U.S. District Court for the Northern District of Illinois, and that Amgen and Horizon will quickly seek the final approvals required under Irish law to close the acquisition.

Amgen has now formerly given assurance in the consent order with the FTC that it will not bundle Horizon’s Tepezza or Krystexxa with any of its products.

The companies anticipate being able to close the acquisition in early fourth-quarter 2023.

The outside date for the acquisition was Jan. 31, 2024.

Of the $24 billion of notes sold by Amgen in February, $21.25 billion of them would have been subject to a mandatory redemption at 101 if the acquisition did not close by the deadline.

Amgen is a Thousand Oaks, Calif., manufacturer and marketer of human therapeutics based upon advances in cellular and molecular biology. Horizon is a global biotechnology company.

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