The U.S. Federal Trade Commission said on Tuesday that it would sue to stop Amgen Inc’s (AMGN.O) $27.8 billion deal to buy Horizon Therapeutics Plc (HZNP.O).
The deal, which was announced in December 2022, would give Amgen two fast-growing drugs, the thyroid eye disease treatment Tepezza and gout treatment Krystexxa. Amgen hopes they can act as a bulwark against competition for its blockbuster arthritis drug Enbrel.
Furthermore, other key drugs in its portfolio, such as psoriasis therapy Otezla, face loss of patents over the next few years.