🦧 the biggest pharma buy
amgen agreed to buy horizon therapeutics for ~$28b in cash
this would make the largest merger in the pharmaceutical industry this year
what’s so special about horizon therapeutics?
the dublin-based company makes rare disease treatments, one of its most popular products being tepezza, a treatment for thyroid eye disease
tepezza won fda's approval in jan. '20, and financial performance was stellar
in its q3 results, horizon projected that tepezza will reach net peak annual sales of over $3b in the us
for how much tho?
amgen said that it will pay $116.50 in cash per share of horizon, which is a 48% premium to horizon's closing stock price ($78.76) before its initial announcement in late nov
the deal will give yet another addition to amgen's portfolio of rare disease treatments
amgen will also acquire horizon's other drugs including krystexxa (for inflammatory arthritis) and ravicti (for urea cycle disorder)
a high premium buy in a rather down market!
💡 something im thinking about
i was going to try lensa, but this article made me think (click image)