Amgen To Enhance Rare Disease Franchise With $27.8bn Horizon Takeover
Wins Three-Horse Race With Sanofi And J&J
The US major has announced its biggest acquisition to date in the form of a takeover that should expand its rare disease franchise and stave off concerns about internal products facing biosimilar competition.
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The company increased its full-year guidance in anticipation of Horizon’s Q4 contribution and sales for the quarter jumped 20%, but even excluding those drugs product sales were up 5%.
ArriVent launched the second biopharma initial public offering of 2024, closing above its IPO price on its first day and grossing $175m – and keeping the financial market mood optimistic.
Now that Amgen has completed its $27.8bn acquisition of Horizon, the company can focus on how it will turn Tepezza back into a growth product and maintain momentum for Krystexxa and other assets.