Amgen Completes Purchase of Horizon Therapeutics

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Amgen has officially finished its purchase of Horizon Therapeutics for an approximate value of $27.8 billion. According to the company, the acquisition includes:

• Alignment with Amgen's core strategy of delivering innovative medicines that make a significant difference for patients suffering from serious diseases.
• Strengthening of Amgen's leading inflammation portfolio by adding early-in-lifecycle medicines such as Tepezza (teprotumumab-trbw), Krystexxa (pegloticase) and Uplizna (inebilizumab-cdon), which treat rare inflammatory diseases.
• Leveraging of Amgen's capabilities in biologics research and development, process development and manufacturing, as well as Amgen's presence in more than 100 countries around the world.
• Generating cash flow to support capital allocation priorities, including ongoing investment in innovation while sustaining a commitment to an investment grade credit rating.
• Acceleration of revenue growth, which is expected to be accretive to non-GAAP earnings per share from 2024.

"Today marks an exciting milestone as we welcome Horizon employees to Amgen and begin working together to serve even more patients around the world suffering from serious illnesses," said Robert A. Bradway, chairman, CEO, Amgen. "We have strong momentum in our core business and the addition of Horizon will further position Amgen as a leader across a broader range of diseases."

Reference: AMGEN COMPLETES ACQUISITION OF HORIZON THERAPEUTICS PLC. Amgen. October 6, 2023. Accessed October 9, 2023. https://www.amgen.com/newsroom/press-releases/2023/10/amgen-completes-acquisition-of-horizon-therapeutics-plc