HZNP - Six states join FTC lawsuit to block Amgen's planned purchase of Horizon

2023-06-22 17:31:56 ET

Six states have joined the Federal Trade Commission's lawsuit to block Amgen's ( NASDAQ: AMGN ) planned $28 billion acquisition of Horizon Therapeutics ( NASDAQ: HZNP ).

New York, California, Illinois, Wisconsin, Minnesota and Washington state joined the FTC's lawsuit to block the combination on antitrust grounds, according to a court filing.

"Amgen’s proposed acquisition of Horizon is dangerous for the future of medicine, dangerous for innovation and research, and most importantly, dangerous for sick people in need of often lifesaving drugs," California Attorney General Rob Bonta said in a statement on Thursday.  "That’s why today we are joining the FTC’s effort to block the merger."

Amgen ( AMGN ) agreed earlier this month said it won't close the deal before Oct. 31 or the second business day after the court rules on the Federal Trade Commission's request to block the deal. Last month, U.S. District Judge John Kness set a hearing for Sept. 11 on the FTC's efforts to block the combination.

Horizon ( HZNP ) has said it expects that its planned sale to Amgen ( AMGN ) can close by mid-December if a request for a preliminary injunction is denied by the federal court.

Amgen ( AMGN ) agreed to acquire Horizon Therapeutics ( HZNP ) for $116.50 a share in cash in December, valuing the Ireland-based biotech at nearly $27.8 billion.

More on Horizon Therapeutics, Amgen

• Anticompetitive Behavior At United Therapeutics, Regeneron, And The FTC
• FTC Surprise Challenge Of Amgen's Acquisition Of Horizon Therapeutics
• Amgen agrees not to close Horizon deal before Sept. 15 in court agreement with FTC

For further details see: