Biopharmaceutical company Amgen announced it will buy Horizon Therapeutics, a rare disease drug company, with a price tag of $27 billion.
Tell me more about Amgen.
Amgen is one of the largest independent biotechnology companies in the world. Based in California, it focuses on the research and development of therapies in areas such as inflammation, nephrology, and hematology/oncology. (via)
Any notable drugs included in the purchase?
Yes! Tepezza (teprotumumab-trbw) is the first FDA-approved treatment for thyroid eye disease (TED). As its largest selling drug, it accumulated sales of $166 billion last year.
Also of note is Uplizna (inebilizumab-cdon), the only FDA-approved, B cell-depleting antibody monotherapy treatment for neuromyelitis optica spectrum disorder in adults. Horizon received rights to Uplizna after acquiring Viela Bio in 2021.
How about the pipeline?
See here for a complete list of Horizon’s current and upcoming programs.
What does this mean for Amgen?
Amgen’s CEO Robert Bradway noted that a combination of its world-class biologics capabilities with Horizon’s current products and those in the pipeline will complement the company’s research and development portfolio. The purchase will also grow Amgen’s revenue, starting in 2024. (via)
When is the deal effective?
Amgen plans to complete the acquisition in the first half of 2023.