Amgen resolves lawsuit with FTC regarding Horizon acquisition

1 September 2023

The US Federal Trade Commission today announced it has reached a proposed consent order with Amgen (Nasdaq: AMGN) to address what the agency saw as potential competitive harm that would result from the biotech major’s $27.8 billion acquisition of Horizon Therapeutics (Nasdaq: HZNP).

News of the resolution moved Horizon’s shares move up a modest 2.5% to $115.56, while Amgen stock was barely changed.

As part of a nationwide settlement of their challenge to the acquisition, the FTC and attorneys general from six states – California, Illinois, Minnesota, New York, Washington, and Wisconsin – also will dismiss the related federal court preliminary injunction action.

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