Amgen Agrees to Deal to Buy Horizon Therapeutics

The Wall Street Journal2022-12-12

Amgen Inc. has agreed to acquire Horizon Therapeutics PLC in an all-cash deal valued at $27.8 billion, marking the largest healthcare merger of the year.Under the terms of the deal, which was first ...

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hiryan
2022-12-12
hiryan
He's gf
- Abundance Thankful:
  [Happy]
Richard0208
2022-12-12
Richard0208
Wow
Richard0208
2022-12-12
Richard0208
Goood sharing

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmgen Agrees to Deal to Buy Horizon Therapeutics\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-12 20:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/amgen-in-advanced-talks-to-buy-horizon-therapeutics-11670785882?mod=hp_lead_pos3><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Amgen Inc. has agreed to acquire Horizon Therapeutics PLC in an all-cash deal valued at $27.8 billion, marking the largest healthcare merger of the year.Under the terms of the deal, which was first ...</p>\n\n<a href=\"https://www.wsj.com/articles/amgen-in-advanced-talks-to-buy-horizon-therapeutics-11670785882?mod=hp_lead_pos3\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AMGN","symbol_name":"安进","start_time":0,"source_url":"https://www.wsj.com/articles/amgen-in-advanced-talks-to-buy-horizon-therapeutics-11670785882?mod=hp_lead_pos3","article_id":"1130099471","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1130099471","pubTimestamp":1670847616,"sourceInfo":{"source_id":"wsj_highlight","name":"The Wall Street Journal"},"weMediaInfo":null,"summary":"Amgen Inc. has agreed to acquire Horizon Therapeutics PLC in an all-cash deal valued at $27.8 billio","collect":0,"end_time":0,"defaultTopTitle":"wsj.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"AMGN":"安进","HZNP":"Horizon Pharma"},"translate_title":"安进同意收购Horizon Therapeutics","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMGN":0.9,"HZNP":0.9},"content_text":"Amgen Inc. has agreed to acquire Horizon Therapeutics PLC in an all-cash deal valued at $27.8 billion, marking the largest healthcare merger of the year.Under the terms of the deal, which was first reported by The Wall Street Journal, Amgen will pay $116.50 for each Horizon share owned. The offer was equal to a premium of 19.7% over the stock’s closing price Friday at $97.29.“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 Chief Executive Robert Bradway said.Amgen will finance the deal via a bridge loan for $28.5 billion with Citibank N.A. acting as administrative agent, and Citibank, Bank of America N.A. as lead arrangers and bookrunners.The deal is expected to generate robust cash flow, with the companies drumming up about $10 billion in combined cash flow over the 12 months through the third quarter of 2022. Amgen expects the regulatory approvals and other conditions under the Irish business code—it is based in Dublin—to be achieved by the first half of 2023.Horizon shares jumped 14% premarket on the news.Horizon develops medicines to treat rare autoimmune and severe inflammatory diseases that are currently sold mostly in the U.S. Its biggest drug, Tepezza, is used to treat thyroid eye disease, an affliction characterized by progressive inflammation and damage to tissues around the eyes.The company is Nasdaq-listed and has operations in Dublin, Deerfield, Ill. and a new facility in Rockville, Md.Horizon said last month it was fielding takeover interest from Amgen, Sanofi andJohnson & Johnson, a disclosure prompted by a Wall Street Journal report.Last year, revenue from Tepezza more than doubled, driving Horizon’s overall net sales 47% higher to $3.23 billion. Horizon has said that annual global net sales of the drug are targeted to eventually peak at more than $4 billion as the company aims to win approval to sell it in Europe and Japan.That type of growth is attractive to big drug companies, with many sitting on big piles of cash, that rely on acquisitions as a key strategy to expand sales. Many big drugmakers are looking for new sources of revenue to offset losses when some of their main products lose patent protection.Analysts expect Amgen will lose sales when patents begin expiring on its big-selling osteoporosis drugs Prolia and Xgeva later this decade. The pair of drugs accounted for nearly $5.3 billion of Amgen’s $26 billion in revenue last year.In October, Amgen completeda $3.7 billion dealfor ChemoCentryx and its drug to treat a rare immune-system disease.Adding Horizon would provide more rare immune-disease drugs to Amgen’s lineup, which also includes the biotech’s Enbrel and Otezla immune-disease therapies. Amgen could help sell more of Horizon’s products overseas, according to analysts.Acquiring Horizon could add about $4 billion in new revenue for Amgen by 2024, according to Jefferies & Co.Other big life-sciences companies have been inking deals in recent months.Johnson & Johnson recently strucka $16.6 billion dealto acquire heart-device maker Abiomed Inc. to bolster sales of its medical-gear division, which had been lagging behind those of its pharmaceutical unit.Merck& Co. followed witha deal of its own, agreeing to buy blood-cancer biotech Imago BioSciences Inc. for $1.35 billion, ahead of the patent expiration of its cancer immunotherapy Keytruda.PfizerInc., meanwhile, agreed in August to buy Global Blood Therapeutics Inc. for $5.4 billion, in a deal that would give the big drugmaker a foothold in thetreatment of sickle-cell disease.Theselloff in stocksthis year amid rising interest rates, while damping putting a damper on deal activity, has also made some companies more attractive targets. At the stock’s peak about a year ago, Horizon was valued at roughly $27 billion. The shares, which fell sharply earlier this year, have surged since the possibility of a takeover surfaced.Horizon’s other drugs include Krystexxa for treating gout, a form of inflammatory arthritis, and Ravicti for a rare, potentially life-threatening genetic disease known as urea cycle disorder that raises ammonia levels in the blood.Drugs treating rare diseases have emerged as a large source of pharmaceutical sales because they can command high prices that health insurers have been willing to pay.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9923667036,"gmtCreate":1670851750226,"gmtModify":1676538445842,"author":{"id":"3566188406021924","authorId":"3566188406021924","name":"hiryan","avatar":"https://static.tigerbbs.com/b6d871adf76ee05a7b420452b564855f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3566188406021924","authorIdStr":"3566188406021924"},"htmlText":"He's gf","listText":"He's gf","text":"He's gf","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9923667036","repostId":1130099471,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":105177299,"gmtCreate":1670856207915,"gmtModify":1670856217900,"authorId":3572176137415007,"author":{"id":3572176137415007,"idStr":"3572176137415007","authorId":3572176137415007,"name":"Abundance Thankful","avatar":"https://community-static.tradeup.com/news/3596d672dc89783cd009721d4bab5ddb","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-2","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Master Trader","description":"Total number of securities or futures transactions reached 100","bigImgUrl":"https://static.tigerbbs.com/ad22cfbe2d05aa393b18e9226e4b0307","smallImgUrl":"https://static.tigerbbs.com/36702e6ff3ffe46acafee66cc85273ca","grayImgUrl":"https://static.tigerbbs.com/d52eb88fa385cf5abe2616ed63781765","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"80.09%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":4,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9923667036,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">[Happy]</span>","text":"<span class=\"s1\">[Happy]</span>","html":"<span class=\"s1\">[Happy]</span>"}],"langContent":"EN"},{"id":9923660916,"gmtCreate":1670849961936,"gmtModify":1676538445479,"author":{"id":"4087716708608470","authorId":"4087716708608470","name":"Richard0208","avatar":"https://static.tigerbbs.com/480220c46834a37392a97ee3b9004ea1","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4087716708608470","authorIdStr":"4087716708608470"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9923660916","repostId":1130099471,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9923660017,"gmtCreate":1670849953439,"gmtModify":1676538445478,"author":{"id":"4087716708608470","authorId":"4087716708608470","name":"Richard0208","avatar":"https://static.tigerbbs.com/480220c46834a37392a97ee3b9004ea1","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4087716708608470","authorIdStr":"4087716708608470"},"htmlText":"Goood sharing","listText":"Goood sharing","text":"Goood sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9923660017","repostId":1130099471,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":66,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1130099471"}