Amgen has come up trumps against Sanofi and J&J to acquire Horizon Therapeutics for $116.50 per share, totalling $26.4bn.

Dan Stanton, Managing editor

December 12, 2022

2 Min Read
Amgen looks to the Horizon with $27.8bn acquisition
Image: DepositPhotos/ magann

Amgen has come up trumps against Sanofi and J&J to acquire Horizon Therapeutics for $116.50 per share.

The megamerger, announced this morning, will see Amgen pay around $27.8 billion to acquire Horizon Therapeutics, adding 12 marketed medicines, a pipeline of over 20 development programs, and more than 2,000 employees globally. The offer

Amgen CEO Bob Bradway described the deal as “a compelling opportunity,” consistent with his firm’s strategy of “delivering long-term growth by providing innovative medicines that address the needs of patients who suffer from serious diseases.”

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Image: DepositPhotos/
magann

Amgen became the frontrunner in the race to acquire Horizon after French pharma giant Sanofi – which partners Horizon on the commercialized small molecule combination NSAID drug Duexis (ibuprofen and the histamine H2-receptor antagonist famotidine) – pulled out discussions at the weekend, citing transaction price expectations not meeting its value creation criteria. J&J’s pharma unit Janssen had also been in negotiations with Horizon.

Amgen stated its rationale for the megamerger in a press release this morning. Beyond bolstering its product portfolio and pipeline, the firm cited the merger would capitalize on its legacy in inflammation and nephrology, and generate robust cash flow.

Furthermore, Amgen said it will “enhance the growth potential of Horizon’s portfolio” by leveraging its global network of R&D, process development, and manufacturing capabilities.

“Amgen has the scale, expertise, and resources to advance the Company’s pipeline molecules with speed, and to support global registration and commercialization,” the company said in its offer prospectus.

“Given the Company’s focus on biologics, Amgen also has the process development expertise to assist the Company in delivering lifecycle management programs focused on new formulations and new routes of administration. Amgen is also an industry leader in biologics manufacturing, which provides opportunities for manufacturing cost efficiencies while helping to ensure the Combined Group’s products will reach ‘every patient, every time.’

Once closed, the global headquarters of the combined group will be located at Amgen’s current global headquarters in Thousand Oaks, California.

About the Author(s)

Dan Stanton

Managing editor

Journalist covering the international biopharmaceutical manufacturing and processing industries.


Founder and editor of Bioprocess Insider, a daily news offshoot of publication Bioprocess International, with expertise in the pharmaceutical and healthcare sectors, in particular, the following niches: CROs, CDMOs, M&A, IPOs, biotech, bioprocessing methods and equipment, drug delivery, regulatory affairs and business development.


From London, UK originally but currently based in Montpellier, France through a round-a-bout adventure that has seen me live and work in Leeds (UK), London, New Zealand, and China.

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