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Litigation

FTC moves to block Amgen-Horizon merger

by Shi En Kim
May 18, 2023 | A version of this story appeared in Volume 101, Issue 16
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The US Federal Trade Commission (FTC) has sued to block 2022’s largest deal in the pharmaceutical industry: Amgen’s $27.8 billion acquisition of Horizon Therapeutics, which owns Tepezza, a treatment for thyroid eye disease, and Krystexxa, a therapy for chronic refractory gout. Both these drugs face limited to no competition in their markets. In the lawsuit, the FTC argues that the merger would enable Amgen to use rebates on its existing blockbuster drugs to pressure insurance companies and pharmacy benefit managers to favor the two Horizon drugs.

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