The FTC just went after 'bundling' in Amgen's $28B deal. Will it put a chill on future M&A?
The FTC’s surprising and potentially risky attempt to block Amgen’s proposed $28 billion buyout of Horizon Therapeutics has raised concerns about federal oversight of a sector gearing up for an active M&A year.
In a lawsuit filed Tuesday in federal court, the FTC argued that the merger would allow Amgen to use rebates on existing drugs to “pressure insurance companies and pharmacy benefit managers into favoring” Horizon’s blockbuster thyroid eye disease and chronic refractory gout drugs Tepezza and Krystexxa, respectively, which generated a combined $2.7 billion in revenue last year.
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