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.
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.
The case will be “withdrawn from adjudication” until Sept. 18, according to the filing, and this will allow the FTC to consider other avenues of resolving the matter, including a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.
The Federal Trade Commission seeks to codify its heavier-handed approach, already displayed by its actions regarding Amgen’s acquisition of Horizon, among other deals.
The new guidelines mark a significant shift in the approach to examining mergers in the pharma industry. Previously, the federal government’s antitrust enforcers primarily focused on direct competition, but the updated guidelines now consider how companies leverage their negotiating power.
The Federal Trade Commission and the company had been in settlement discussions, but those talks have ended as the agency’s antitrust lawsuit seeks to block the Horizon Therapeutics sale.
Early-stage data shows that Viridian’s thyroid eye disease candidate induces clinically meaningful improvements in eye protrusion after six weeks of treatment.
The companies have filed their own suit against the Federal Trade Commission, claiming the FTC’s attempt to legally block their $28 billion merger is unconstitutional.
Six U.S. states are joining the Federal Trade Commission’s lawsuit seeking to block Amgen’s $27.8 billion buyout of rare disease biotech Horizon Therapeutics, Reuters reported on Thursday.
Clio Health announced the winners of the 2023 Grand Clio Health and Clio Health Of The Year awards at a live ceremony hosted by health and wellness consultant Joe Holder in New York City Wednesday evening.