Robert Galbraith | Reuters
The Federal Trade Commission last week allowed Amgen to move forward with its $27.8 billion acquisition of Horizon Therapeutics under a settlement agreement – a move that could have ramifications for a string of other pharmaceutical industry buyouts.
Some Wall Street analysts said the FTC’s decision to settle allows the sector to breathe a sigh of relief, as it suggests that other large pending deals could proceed relatively unscathed after reviews. That includes the agency’s examination of Pfizer’s proposed $43 billion purchase of cancer drug developer Seagen.
“The settlement materially mitigates regulatory headwinds” for the Pfizer-Seagen deal, William Blair analyst Matt Phipps said in a research note Friday. He added that the firm expects the acquisition to close at the end of the year or early 2024.
More broadly, the settlement is “a positive for the M&A space in the sector,” Truist analyst Robyn Karnauskas said in a research note Friday.
But some…
2023-09-05 12:26:22
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