Amgen to buy Horizon Therapeutics, Shein mulls becoming a marketplace, U.S. to announce nuclear breakthrough
Notable business headlines include Amgen’s $26.4 billion acquisition of Horizon Therapeutics, Shein considering becoming an online marketplace, and expectations that the U.S. Department of Energy will announce a nuclear fusion breakthrough.
Video transcript
- Let's get to some other business headlines that we're watching right now. Amgen agreed to buy Horizon Therapeutics in an all cash deal valued at $27.8 billion. That makes it the largest health care deal of the year. Each Horizon shareholder will receive $116.50 per share for each share they own as part of the merger. Horizon Therapeutics is a Dublin-based company that develops treatments for rare autoimmune diseases. Amgen expects the regulatory approvals under the Irish business code to be achieved by the first half of 2023. By the way, there were a number of different companies vying for Horizon. And Amgen is the one that gets it in the end.
Online fashion retailer Shein is exploring expanding into an online marketplace that would allow other merchants to sell directly to customers on it. That's according to the "Wall Street Journal." Creating that marketplace would make Shein a direct competitor to retail giants, including Alibaba and Amazon. The company valued at more than $100 billion. It's backed by big-name investors like Sequoia Capital China and General Atlantic. Shein is on track to generate revenue of $24 billion this year.
And a huge, huge scientific breakthrough. The US Department of Energy is expected to make an announcement this week on a major milestone in nuclear fusion research. This comes after the "Financial Times" reported that scientists in a California-based laboratory had achieved a so-called net energy gain from an experimental fusion reactor. This would be the very first time that researchers have successfully produced more energy in a fusion reaction than was consumed during the process. It would be a major step in the pursuit of zero-carbon power. So we look forward to getting more information on that, hopefully, later this week.
- All right. Beam me up.