FTC Sues to Block Amgen’s $27.8 Billion Acquisition of Horizon Therapeutics

The Federal Trade Commission on Tuesday filed a lawsuit seeking to block drug giant Amgen’s $27.8 billion acquisition of Horizon Therapeutics, arguing that the deal would “stifle competition” in the pharmaceutical industry.

The FTC said that the deal would allow Amgen to “entrench the monopoly positions” of two of Horizon’s fast-growing medications: the thyroid eye disease treatment Tepezza, and Krystexxa, which is a gout medicine.

Specifically, the agency said, Amgen would be able to offer rebates on its existing drugs to pressure insurers and pharmacy benefit managers into favoring the two Horizon products, a strategy known as “cross-market bundling.”

Read the source article at cnbc.com