Horizon Therapeutics and Amgen Inc announced that they have reached agreement on the terms of a cash offer for the Horizon Therapeutics by Pillartree Limited, a newly formed private limited company wholly owned by Amgen, according to a press release.
Robert A. Bradway, chairman and chief executive officer of Amgen said in the release:
“The acquisition of Horizon is a compelling opportunity for Amgen and one that is consistent with our strategy of delivering long-term growth by providing innovative medicines that address the needs of patients who suffer from serious diseases. Amgen’s decades of leadership in inflammation and nephrology, combined with our global presence and world-class biologics capabilities, will enable us to reach many more patients with first-in-class medicines like TEPEZZA, KRYSTEXXA and UPLIZNA. Additionally, the potential new medicines in Horizon’s pipeline strongly complement our own R&D portfolio. The acquisition of Horizon will drive growth in Amgen’s revenue and non-GAAP EPS and is expected to be accretive from 2024.”
Read the full press release here.
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