Amgen, Horizon enter consent order agreement with FTC to close acquisition

Amgen (AMGN) and Horizon Therapeutics (HZNP) announced the entry into a consent order agreement with the Federal Trade Commission, or FTC, that resolves the pending FTC administrative lawsuit. This clears the path to take the final steps to close Amgen’s acquisition of Horizon. As a result of the consent order agreement, Amgen and Horizon expect that the parties will jointly file stipulated proposed orders to dismiss the preliminary injunction motion and dissolve the temporary restraining order, or TRO, in the U.S. District Court for the Northern District of Illinois, and that Amgen and Horizon will quickly seek the final approvals required under Irish law to close the acquisition. Amgen has consistently stated to the FTC, the courts and the public that it has no reason, ability or intention to bundle Horizon’s Tepezza or Krystexxa with any of its products. This narrow assurance, formalized in the consent order with the FTC, will have no impact on Amgen’s business. The companies anticipate being able to close the acquisition in early fourth-quarter.