Amgen to Purchase Horizon Therapeutics for $26.4 Billion

Amgen is spending more than $26 billion to dive deeper into rare disease treatments with a deal for drugmaker Horizon Therapeutics.

The biotech drug developer said Monday that it will pay $116.50 in cash for each share of Horizon, which makes a thyroid eye disease treatment that generated more than $1 billion in its first full year on the market.

The deal offers Amgen another chance to build its portfolio of rare-disease treatments after it closed in October a roughly $3.7 billion acquisition of ChemoCentryx, which focuses on autoimmune disease drugs.

Read the source article at apnews.com