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Investors are often encouraged when one of their companies bulks up by acquiring a peer. But that sentiment can turn sour if the takeover target stumbles.
This was the impetus behind Amgen 's (NASDAQ: AMGN) nearly 3% decline on the stock market Wednesday. After divulging its latest quarterly results, the peer it plans to walk to the altar with wasn't looking very pretty.
That potential Amgen asset is pharmaceutical company Horizon Therapeutics (NASDAQ: HZNP) , which published its first-quarter figures before market open.