FTC Gives Go-Ahead to $27.8 Billion Amgen and Horizon Merger With Consent Order

After dropping its challenge to the proposed transaction last week, the FTC will allow Amgen’s $27.8 billion buyout of Horizon Therapeutics to proceed under terms set in a consent order — while six state attorneys general also announced they will dismiss their challenges to the deal.

The proposed consent order bars Amgen from bundling an Amgen product with two Horizon mega-earners — thyroid eye disease drug Tepezza (teprotumumab-trbw) and the chronic refractory gout therapy Krystexxa (pegloticase).

Under the order, Amgen is also prohibited from offering conditions, product rebates or contract terms related to an Amgen product on the sale of either of these drugs, while also being barred from using any product rebate or contract terms to exclude or disadvantage drugs competing with either Tepezza or Krystexxa.

Read the FTC proposed consent order here.

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