Horizon Therapeutics fields buyout interest from Amgen, J&J and Sanofi


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Horizon Therapeutics Plc said on Tuesday its board was engaged in highly preliminary discussions with three pharmaceutical giants for potential takeover offers, sending its shares surging 31% in extended trading.

The biotech company, with a market capitalization of about $18 billion, is in talks with Amgen Inc, Sanofi and Johnson & Johnson unit Janssen Global Services.

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Horizon, which makes drugs for rare, autoimmune and severe inflammatory diseases, however, added there can be no certainty that any offer will be made.

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The three firms have been active in deal-making this year.

Amgen acquired ChemoCentryx in a $4 billion deal in October, while J&J earlier this month announced a $16.6 billion bid for Abiomed.

Sanofi earlier this year completed the buyout of immuno-oncology company Amunix Pharmaceuticals for around $1 billion.

Amgen declined to comment on the talks, while Sanofi and Janssen Global were not immediately available.

Horizon expects over $4 billion in global annual peak sales for its biggest drug Tepezza, which is used to treat thyroid eye disease.

It has also estimated more than $1.5 billion in peak U.S. annual sales of its second largest drug Krystexxa, used for the treatment of gout that is not controlled by other medicines.

Tepezza had generated nearly $1.5 billion in the nine months ended Sept. 30, a growth of 37% from last year, while Krystexxa garnered $500 million, up 27% from the prior year. (Reporting by Leroy Leo in Bengaluru; Editing by Sriraj Kalluvila)


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