HZNP - Horizon Pharmaceuticals gains as May date set for Irish court hearing

2023-04-14 11:26:47 ET

Horizon Pharmaceuticals ( NASDAQ: HZNP ) rose 1.2% as traders circulated a date for an Irish court hearing for the approval of its sale to Amgen ( NASDAQ: AMGN ) was set for next month.

An Irish court set a date of May 24 for a hearing on Horizon's ( HZNP ) planned $28 billion sale to Amgen ( AMGN ), according to a listing on the Irish High Court's website. Traders were passing around the date on Friday, though the site indicates it was updated on March 31.

The news comes after Dealreporter on Wednesday reported that the transaction remains on track to close in the first half of the year. The item indicated that a date hadn't been set for Irish courts to approve the deal, though scheduling is expected shortly after the companies comply with the Federal Trade Commission's second request.

The Irish court approval is expected to the last approval needed before the $28 billion deal can be closed.

The latest update comes after Horizon ( HZNP ) and Amgen ( AMGN ) in late January confirmed they received a second request from the in regards to the planned acquisition of the rare-disease focused company.

Earlier Horizon ( HZNP ) announced that the FDA approved an update to the labeling information of the company's thyroid eye disease therapy Tepezza related to its indications and usage.

For further details see: