Pharma analysts note that Amgen's revenue outlook has been clouded by upcoming patent expirations for key drugs such as Prolia, which treats osteoporosis, and Otezla, which treats psoriasis and psoriatic arthritis. "Amgen is aligned with that commitment and passion and will continue to maximise the value of the current portfolio and pipeline and accelerate the ability to reach more patients globally."Īmgen's portfolio also includes an autoimmune treatment, Enbrel, but sales have fallen in recent quarters. "In nearly 15 years, we have built one of the fastest-growing and most respected companies in the biotechnology industry from the ground up," said Horizon Chief Executive Tim Walbert. Other major Horizon products include Krystexxa, which treats chronic gout Ravicti, which treats urea disorders and Uplizna, which treats an autoimmune disease. Sales of Tepezza came in at $491 million in the third quarter and $1.7 billion for all of 2021, more than half of Horizon's total revenues. "With AstraZeneca's acquisition of Alexion still fresh in the mind, the trend for consolidation is clear but the universe of large specialists in the space is dwindling, so further deals may be more bite-sized and opportunistic," Nathan added. The transaction shows "Big Pharma will pay top dollar for a solid portfolio and pipeline in therapeutics for rare diseases," where the competitive landscape is "generally much less crowded," said Derren Nathan, head of equity research at Hargreaves Lansdown in Britain. J&J also said in early December that it had dropped its pursuit of the deal. Sanofi said Sunday it ended discussions with Horizon after concluding the transaction prices "do not meet our value criteria."
Responding to an article in The Wall Street Journal, Horizon Therapeutics said last month it was in preliminary talks with Amgen, but also with Johnson & Johnson and French company Sanofi. Horizon is based in Ireland, but trades in New York. Shares of Horizon surged nearly 15 percent to $111.70 in mid-morning trading, while Amgen dropped 1.2 percent to $275.44. If all goes well, the deal should be concluded in the first half of 2023, Amgen said. The deal is subject to approval by antitrust regulators in the United States, Austria and Germany, as well as the approval of the Irish High Court. "The acquisition of Horizon is a compelling opportunity for Amgen and one that is consistent with our strategy of delivering long-term growth by providing innovative medicines that address the needs of patients who suffer from serious diseases," Amgen CEO Robert Bradway said. It is best known for making Tepezza, which is used to treat thyroid eye disease, the symptoms of which include eye pain, redness and swelling.Īmgen said the deal would strengthen its drug portfolio, while positioning Horizon's products through its global commercial and manufacturing network. The bid will be financed through a bank lending facility.įounded in 2005, Horizon Therapeutics develops and markets drugs for rare, auto-immune and inflammatory illnesses. “I was able to voice my opinion on decisions that would impact the business at a larger level, which has allowed me to grow personally and professionally early in my career.The California-based company said it will pay cash to the tune of $116.50 a share in Horizon Therapeutics, a 20 percent premium over Horizon's closing price Friday on Wall Street, in what would be the biggest deal of the year in the health sector.
“From the moment I joined Horizon as an entry-level employee, I was given opportunities to bring new ideas to the table and share them with executive leadership,” said one employee.Employees are encouraged to think philanthropically, with Horizon matching employee donations.The Aspiring Leaders program, launched in 2021, has doubled in size to accommodate more participants after the first offering saw three times the number of applicants the company was hoping for within the first 24 hours.
The company partners with Maven to provide around-the-clock family benefits for every path to parenthood, regardless of sexual orientation or gender identity.Working parents have access to on-site child care run by Bright Horizons.The biopharmaceutical company, appearing for the third time on this list, goes far beyond traditional employee assistance to ensure workers are not just physically healthy but mentally fit as well.
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