• Sustainability
  • DE&I
  • Pandemic
  • Finance
  • Legal
  • Technology
  • Regulatory
  • Global
  • Pricing
  • Strategy
  • R&D/Clinical Trials
  • Opinion
  • Executive Roundtable
  • Sales & Marketing
  • Executive Profiles
  • Leadership
  • Market Access
  • Patient Engagement
  • Supply Chain
  • Industry Trends

FTC, Amgen Reach Settlement on Dispute Over Horizon Therapeutics Acquisition

News
Article

Biopharma company now required to seek approval before attempting further buyouts.

lawyer or notary working with documents in courtroom or law enforcement office. Image Credit: Adobe Stock Images/Meow Creations

Image Credit: Adobe Stock Images/Meow Creations

The Federal Trade Commission (FTC) revealed an agreement with Amgen on a proposed consent order over its $27.8 billion deal to acquire Horizon Therapeutics. As part of the deal, the agency will throw out the previous court actions in conjunction with attorney generals from six states that also filed lawsuits against the organization. Also included in the proposed order, Amgen will be prohibited from entering into a buyout agreement without FTC consent and bundling products with Tepezza or Krystexxa, its medications used to treat thyroid eye disease (TED) and chronic refractory gout (CRG).

“Consolidation in the pharmaceutical industry has given companies the power and incentive to engage in exclusionary rebating practices, which can lead to sky-rocketing prices on essential medications,” said Henry Liu, director, bureau of competition, FTC. “Today’s proposed resolution sends a clear signal that the FTC and its state partners will scrutinize pharmaceutical mergers that enable such practices and defend patients and competition in this vital marketplace.”

Reference: Biopharmaceutical Giant Amgen to Settle FTC and State Challenges to its Horizon Therapeutics Acquisition. FTC. September 1, 2023. Accessed September 5, 2023. https://www.ftc.gov/news-events/news/press-releases/2023/09/biopharmaceutical-giant-amgen-settle-ftc-state-challenges-its-horizon-therapeutics-acquisition

Related Videos
Related Content