At the time, the Wall Street Journal reported that Horizon had a value of almost $18 billion and could sell for well over $20 billion. Last month, Horizon disclosed that it was in preliminary talks with several pharmaceutical companies, including Amgen, Sanofi, and Johnson & Johnson's Janssen Global Services, about a potential sale. Amgen to acquire Horizon Therapeutics in multibillion deal The company said the deal increases efficiency for the combined group, leading to an estimated annual pre-tax cost reduction of at least $500 million by the end of the third fiscal year following completion of the merger.Īmgen expects the deal to close in the first half of 2023.Amgen has agreed to purchase Horizon Therapeutics, which develops treatments for rare and immune diseases, for $27.8 billion-making it the largest health care acquisition this year. The acquisition of Horizon will drive growth in Amgen's revenue and non-GAAP EPS and is expected to be accretive from 2024.'Īmgen plans to finance the deal through debt and cash, and has entered into a $28.5 billion credit agreement with Citibank and Bank of America. Additionally, the potential new medicines in Horizon's pipeline strongly complement our own R&D portfolio. “Amgen's decades of leadership in inflammation and nephrology, combined with our global presence and world-class biologics capabilities, will enable us to reach many more patients with first-in-class medicines like Tepezza, Krstexxa, and Uplinza. Bradway, chairman and chief executive officer of Amgen, said in a company announcement. 'The acquisition of Horizon is a compelling opportunity for Amgen and one that is consistent with our strategy of delivering long-term growth by providing innovative medicines that address the needs of patients who suffer from serious diseases,” Robert A. Horizon acquired the rights to Upliza after acquiring Viela Bio in 2021 for about $3 billion.ĭublin, Ireland-based Horizon is also the maker of gout treatment Krystexxa (pegloticase). The monotherapy drug is the first and only B cell-depleting antibody approved for the disease. Uplizna (inebilizumab-cdon), which received FDA approval in June 2020, is indicated for the treatment of adults with neuromyelitis optica spectrum disorder (NMOSD). Tepezza was the first drug approved for the treatment of TED. Tepezza is Horizon's largest selling drug with sales of $1.66 billion in 2021.

Tepezza (teprotumumab-trbw) was approved by the FDA in January 2020 for the treatment of adults with thyroid eye disease (TED), a rare condition where the muscles and fatty tissues behind the eye become inflamed, causing the eyes to be pushed forward and bulge outwards (proptosis). The company will pay $116.50 in cash per share, a premium of 19.7% to Horizon’s last closing price. Amgen announced it is acquiring rare disease drug company Horizon Therapeutics, maker eye disease drugs Tepezza and Uplizna, in a deal valued at $27.8 billion.

Horizon therapeutics revenue 2020