Bob Bradway, Amgen CEO (Justin Kase Conder/AP Images for Amgen)

Up­dat­ed: Hori­zon's $28B sale to Am­gen was kicked off by Sanofi's in­ter­est

Am­gen plans to buy Hori­zon Ther­a­peu­tics for about $28 bil­lion in cash, bring­ing on board two block­buster drugs to ease the hit the biotech gi­ant faces from biosim­i­lar com­pe­ti­tion.

The com­pa­nies an­nounced the deal in a press re­lease Mon­day morn­ing, about two weeks af­ter it was dis­closed that Am­gen, Sanofi and John­son & John­son’s Janssen were all in talks. Am­gen struck the agree­ment af­ter agree­ing to pay $116.50, a 48% pre­mi­um over Hori­zon’s price, be­fore the talks be­came pub­lic on Nov. 29.

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