By Reuters Staff2 Min ReadSlideshow ( 2 photos )(Reuters) -Amgen Inc is in superior talks to purchase biotech firm Horizon Therapeutics Plc, the Wall Street Journal reported on Sunday, whereas rival bidder French well being group Sanofi introduced it had dropped its bid.A deal for Amgen to purchase the corporate may very well be finalised by Monday assuming the talks don’t disintegrate, the Journal report added. Amgen and Horizon didn’t instantly reply to Reuters requests for feedback.Last month, Horizon Therapeutics – which has a market capitalization of about $22 billion – had stated it was in talks with Amgen Inc, Sanofi and Johnson & Johnson’s Janssen Global Services unit, all three of which have been lively in deal-making this 12 months.Sanofi stated on Sunday that it was not in discussions with Horizon and doesn’t intend to make a suggestion for it.“Transaction price expectations do not meet our value creation criteria,” Sanofi stated in an announcement.Janssen additionally pulled out of the race final week saying that it doesn’t intend to make a suggestion for Horizon. Horizon, which makes medicine for uncommon autoimmune and extreme inflammatory illnesses, expects over $4 billion in world annual peak gross sales for its greatest drug Tepezza, which is used to deal with thyroid eye illness.Reporting by Kanjyik Ghosh in BengaluruEditing by Peter GraffOur Standards: The Thomson Reuters Trust Principles.
