The Federal Trade Commission (FTC) will allow the pharmaceutical giant Amgen to acquire Horizon Therapeutics, averting a trial set for September, Eva Rothenberg reported for CNN.
The FTC said it accepted a proposal from Amgen that would allow the $27.8 billion deal under multiple conditions. I Photo: Amgen
The FTC said it accepted a proposal from Amgen that would allow the $27.8 billion deal under multiple conditions, including that Amgen would not pressure insurance companies and pharmacies to bundle two of Horizon’s medications with its own best-selling drugs.
In May, the FTC filed a complaint in the US District Court for the Northern District of Illinois to stop the deal from going ahead, citing anti-competitive concerns.
This marks the first time in 14 years that the commission has brought a case against a pharmaceutical merger.
The lawsuit involved Horizon’s Tepezza, used to treat thyroid eye disease, and Kystexxa, used to treat chronic refractory gout. Both are the only FDA-approved products to treat their respective diseases.
The FTC's concern was that by acquiring these products, Amgen would stifle competition, making it harder for consumers to access cheaper medicines if they were developed by competitors.
Amgen stated, "We have consistently stated to the FTC, the courts, and the public that we have no reason, ability, or intention to bundle Horizon’s (Tepezza or Krystexxa) with any of our products. This narrow assurance will have no impact on Amgen’s business."