In a suspenseful turn of events, the Federal Trade Commission (FTC) announced on Friday that it had inked a deal with pharmaceutical colossus Amgen Inc. The pact not only permits Amgen to move forward with its whopping $27.8 billion Horizon Therapeutics buyout, but also effectively sidesteps legal wrangling with the FTC and six state attorneys general.
Amgen $28B Horizon Deal: The Allegations and Consequences
Peeling back the layers of this legal onion, the FTC had set forth a consent order proposal with Amgen. The heart of the matter? Accusations that Amgen’s potential takeover of Horizon would essentially squeeze out competitors. Drawing an analogy to a giant stifling the voice of smaller entities, the FTC claimed that Amgen’s acquisition might give it the upper hand. This potential leverage, they argued, would allow Amgen to corner insurance outfits and pharmacy benefit managers, pushing them towards Horizon’s exclusive medications: Tepezza and Krystexxa. These medications are the silver bullets for ailments like thyroid eye disease and chronic refractory gout.
