Amgen (NASDAQ: AMGN) and Horizon Therapeutics (NASDAQ: HZNP) have announced a consent order agreement with the US Federal Trade Commission (FTC), which they anticipate will resolve the antitrust agency’s legal challenges to Amgen’s acquisition of Horizon. The conflict arose from a preliminary injunction motion and temporary restraining order (TRO) filed by the FTC earlier this year, which expressed concerns that Amgen could use rebates from its blockbuster products to influence insurers and intermediaries to favor Horizon’s high-cost drugs, Tepezza (teprotumumab) and Krystexxa (pegloticase). These drugs are the sole treatments available for thyroid eye disease and chronic refractory gout, respectively.
Amgen’s Commitment to Fair Competition
Amgen has restated its original response, asserting that it has no plans to bundle Tepezza or Krystexxa with any of its products. This commitment is crucial in addressing the FTC’s concerns about potential anti-competitive practices in the market.
Path to Acquisition Clearance and Expected Timeline
The consent order agreement with the FTC clears the way for the acquisition to proceed, pending approval by the authorities of Horizon’s Irish homeland. The companies expect this final approval to be concluded during the fourth quarter of 2023, allowing the acquisition to be completed within the anticipated timeframe.-Fineline Info & Tech
