Tag Archive for: Horizon Therapeutics

Senator Elizabeth Warren, an antitrust hawk, expressed disappointment with the U.S. Federal Trade Commission’s decision to allow pharmaceutical firm Amgen to move forward with its acquisition of Horizon Therapeutics.

The company, which earlier this month acquired Horizon Therapeutics for $27.8 billion, said on Tuesday its third-quarter product sales rose 5% as double-digit volume growth was offset by lower prices.

In its fourth round of layoffs this year, the California-based biopharma company is letting go of 350 former Horizon Therapeutics staff whose roles overlap with existing positions at Amgen, according to reports.

Pharma companies are striving to convey the true impact of diseases on patients while continuing to empower them.

As the COVID-19 pandemic continues to recede, the top pharma companies intensified their focus into areas such as cancer and metabolic diseases to build up their pipelines, and their growth prospects, for the future.

With the settlement of a big acquisition behind them and a strong portfolio of therapeutics that continues to expand, hopes for smooth sailing are on the horizon.

Amgen said on Friday it had completed the $27.8 billion acquisition of Horizon Therapeutics after it received the go-ahead from the U.S. Federal Trade Commission (FTC) last month on certain conditions.

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The case will be “withdrawn from adjudication” until Sept. 18, according to the filing, and this will allow the FTC to consider other avenues of resolving the matter, including a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.