HZNP - FTC Seeks to Block Amgen's Acquisition of Horizon Therapeutics: What's Next for Both Stocks?
2023-05-17 05:13:00 ET
Deal or no deal? That's now the big question for investors concerning Amgen 's (NASDAQ: AMGN) pending $28 billion acquisition of Horizon Therapeutics (NASDAQ: HZNP) .
The Federal Trade Commission (FTC) announced on Tuesday that it has filed a lawsuit to prevent this buyout from happening. Unsurprisingly, shares of Horizon Therapeutics sank on the news. Amgen's share price dipped slightly. What's next for both biotech stocks after the FTC's move to block the transaction?
In the past, the FTC has attempted to intervene when two companies with rival drugs sought to combine. Even in those cases, though, the FTC typically has only demanded that the acquiring company sell one or more products to enable the deal to be finalized.
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FTC Seeks to Block Amgen's Acquisition of Horizon Therapeutics: What's Next for Both Stocks?