HZNP - FTC's suit to block Amgen's purchase of Horizon Therapeutics set for Sept. 11 trial

2023-05-23 12:38:56 ET

• The Federal Trade Commission lawsuit to block Amgen's ( NASDAQ: AMGN ) planned purchase of Horizon Therapeutics ( NASDAQ: HZNP ) is set for a hearing on Sept. 11.
• The trial date was set at a case management hearing in front of U.S. District Judge John Kness in Chicago on Tuesday.
• The judge said he would likely take about four weeks after the hearing ends to make a ruling, according to a Reuters report.
• On Thursday, Amgen ( AMGN )) agreed not to close its $28 billion purchase of Horizon ( HZNP ) before Sept. 15 or the second business day after the court rules on the Federal Trade Commission's request to block the deal.
• Horizon ( HZNP ) expects that its planned sale to Amgen ( AMGN ) can close by the end of Q3 or early in Q4 if the FTC's request for a preliminary injunction is denied by the federal court, according to an 8-K filing.

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