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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