
Amgen expected to buy Horizon at valuation of $26bn
pharmafile | December 12, 2022 | News story | Sales and Marketing |
Amgen Inc is expected to acquire biotech firm Horizon Therapeutics Plc at a valuation of $26bn. This would be Amgen’s biggest acquisition to date. It appears that the company has offered $116.5 for each Horizon share.
Sanofi and Janssen were also considering buying Horizon, however Sanofi no longer intends to go forward with this, stating: “Transaction price expectations do not meet our value creation criteria.” Janssen also stated that they no longer intend to go forward with the purchase, pulling out of the procurement last week. It was only last month that Horizon stated that they were in talks with Amgen, Sanofi and Johnson & Johnson’s Janssen Global Services, all of whom at some point intended to purchase Horizon.
The acquisition would allow Amgen access to Horizon’s pipeline, including Tepezza which treats thyroid eye disease and Krystexxa which can treat gout that is not controlled by other medicines. The estimated sales for these drugs are $4bn both globally and annually for Tepezza, and $1.5bn annually in the US for Krystexxa.
Although the companies are yet to comment on the potential acquisition, it is expected to go ahead.
Amgen also completed a significant deal back in October, acquiring ChemoCentryx and its drugs to treat a rare immune-system disease for $3.7bn.
The acquisition of Horizon would contribute more immune-disease drugs to Amgen’s prior collection, including Enbrel and Otezla immune-disease therapies.
Betsy Goodfellow






