In a settlement on September 1, the U.S. Federal Trade Commission cleared Amgen to proceed with its $27.8 billion acquisition of Horizon Therapeutics after several months of scrutiny. Some experts say the agreement is a setback for the agency.
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Medical device maker Boston Scientific said on Tuesday it would buy private medical tech company Relievant Medsystems for an upfront cash payment of $850 million, in a bid to expand treatment options for chronic low back pain.
The U.S. Federal Trade Commission on Friday reached a settlement with Amgen Inc. allowing the drugmaker to go ahead with its $27.8 billion acquisition of Horizon Therapeutics, dropping its earlier objections to the deal.
Novo Nordisk has again bought a weight-loss focused biotech, as the obesity market heats up. Announced Wednesday, the Danish pharma plans to buy Embark Biotech for $16.3 million up front with close to $500 million on the line in milestone payments—Novo’s second obesity-focused acquisition in three weeks.
The deal will help Danaher bulk up in the face of a funding crunch among small-sized biotech companies that has dented demand for its products used to develop treatments and vaccines.
The case will be “withdrawn from adjudication” until Sept. 18, according to the filing, and this will allow the FTC to consider other avenues of resolving the matter, including a settlement.
Following its Scorpion Capital controversy in March, Harmony Biosciences is seeking to deepen its pipeline with an acquisition of Zynerba Pharmaceuticals’ cannabinoid therapies for neuropsychiatric disorders.
The regulator has requested documents and communications related to the acquisition along with certain statements and disclosures about the “conduct and compensation” of certain members of the companies’ management, according to Illumina.
Amid leadership changes and anti-trust scrutiny, Illumina has lowered its 2023 guidance. The company now expects a 1% increase in revenue, down from its previous 7% to 10% growth forecast.
The Wegovy drugmaker said it expects the acquisition to be completed in 2023 provided that unspecified development and commercial milestones are met.
