Amgen to buy Horizon Therapeutics in $26.4-billion deal
LA TimesThe Horizon deal will help Amgen build its portfolio of rare-disease treatments. Amgen Chairman and Chief Executive Robert Bradway said the deal gives his company a “strong platform” to expand into rare-disease treatments, with many Horizon drugs still early in their life cycle. Amgen is facing competition for some of its key products such as its autoimmune disease treatment Enbrel, so a Horizon takeover makes strategic sense, Mizuho Securities USA analyst Salim Syed said in a research note. He also said Horizon’s presence in Ireland, which has lower corporate tax rates than the United States, could help Amgen cut its tax bill. Horizon said late last month that it had started “highly preliminary discussions” about an acquisition with three potential suitors: Amgen, the French drugmaker Sanofi, and Johnson & Johnson’s Janssen division.
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