Amgen is spending more than $26 billion to dive deeper into rare disease treatments with the acquisition of drugmaker Horizon Therapeutics.
FILE - This photo shows signage outside the Amgen headquarters in Thousand Oaks, Calif on Nov. 9, 2014. Amgen will acquire Horizon Therapeutics, a biopharmaceutical company that focuses on treatments for rare, autoimmune diseases, in a deal valued at approximately $26.4 billion.
The biotech drug developer said Monday that it will pay $116.50 in cash for each share of Horizon, which makes a treatment for thyroid eye disease that generated more than $1 billion in its first full year on the market.U.S.-traded shares of the Irish company had already soared about 30% since it confirmed late last month that it had begun “highly preliminary discussions” about an acquisition with Amgen, the French drugmaker Sanofi, and Johnson & Johnson’s Janssen division.
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