Amgen will purchase Horizon Therapeutics, a biopharmaceutical firm that focuses on remedies for uncommon, autoimmune ailments, for about $26.4 billion.
Every Horizon shareholder will obtain $116.50 per share for every share they personal. The deal has an enterprise worth of about $28.3 billion, Amgen stated.
Shares of Horizon jumped almost 14% earlier than the opening bell Monday.
U.S.-traded shares of Horizon soared about 30%, previous $100, after the corporate confirmed late final month that it had begun “extremely preliminary discussions” about an acquisition with Amgen, the French drugmaker Sanofi, and Johnson & Johnson’s Janssen division.
Amgen confirmed discussions had been happening in early this month and stated on the time that any provide it made for Horizon doubtless can be in money, but additionally that there was no assure a suggestion can be made.
A day later, Johnson & Johnson stated that it didn’t intend to make a suggestion.
Amgen stated Monday that the Horizon transaction will give it entry to a complementary portfolio of medicines from Horizon that tackle the wants of sufferers affected by uncommon ailments.
Horizon Therapeutics PLC, based mostly in Dublin, develops potential remedies for uncommon, autoimmune and extreme inflammatory ailments. Its best-seller, Tepezza, is barely accepted in america and treats eye bulging and double imaginative and prescient from thyroid eye illness.
U.S. regulators accepted Tepezza in early 2020 as the primary remedy for thyroid eye illness. The drug’s gross sales greater than doubled final yr to $1.67 billion. That’s about half of the corporate’s complete gross sales of $3.23 billion.
The FDA gave Tepezza “orphan drug” standing, which comes with monetary incentives and unique advertising, advantages which can be supposed to encourage drugmakers to develop uncommon illness remedies.
Horizon additionally makes Krystexxa for uncontrolled gout. Gross sales of that remedy grew 39% final yr to $565.5 million.
Shares of Amgen Inc., based mostly northwest of Los Angeles in Thousand Oaks, California, fell almost 3% in premarket buying and selling.
