Horizon Therapeutics says Amgen deal could close earlier than planned if FTC fails to block it
Summary
Horizon Therapeutics expects its $27.8 billion sale to Amgen to close as early as the end of the third quarter, earlier than previously planned — if the Federal Trade Commissions attempt to block the deal fails — according to a document filed Thursday with the Securities and Exchange Commission. The FTC on Tuesday filed a lawsuit in Illinois federal court seeking to halt the acquisition, arguing it would "stifle competition" in the pharmaceutical industry. Horizon, which is based in Ireland, said in the new SEC filing that the deal could close by the "end of Q3 or early in Q4 of 2023" if a federal court denies the FTCs request by Sept. 15. Horizons estimate is earlier than when the companies and Wall Street analysts were initially expecting the deal to close after the FTC sued. If completed, the deal would give Amgen access to Horizons blockbuster thyroid eye disease drug, Tepezza, and its gout medicine, Krystexxa.