🦧 the biggest pharma buy

AMGN 0.00 x HZNP 0.00

amgen agreed to buy horizon therapeutics for ~$28b in cash

• this would make the largest merger in the pharmaceutical industry this year

• SNY 0.00 (sanofi) and JNJ 0.00 (johnson & johnson) were also in the list of potential buyers

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)

that's all, folks 🐒

as always, i’m no financial advisor! (i’m no substitute for professional financial services)