Amgen set to acquire Horizon Therapeutics in $26.4 billion deal

Amgen will acquire Horizon Therapeutics for more than $26 billion as the company dives deeper into rare disease treatment.

Video transcript



SEANA SMITH: Time for our Triple Play, three stocks that we ARE watching in the final 30 minutes of trading. We have Horizon Therapeutics, Coinbase, and DraftKings. My play today, Amgen buying Horizon Therapeutics for nearly $28 billion, its biggest buyout ever. Now, the move pushing Amgen further into immune therapies, giving it a chance to build its portfolio of treatments at a time when many of its top drugs face a loss of patent protection in the coming years.

Amgen paying 1,650 a share for Horizon Therapeutics. Jared, this was actually the largest healthcare merger of the year. So ending the year on a positive note if we can say that, one of the big M&A deals today. So I guess a bit of optimism here as we close out what has been a very, very tough year for the markets and a lot of healthcare companies.

JARED BLIKRE: I'll tell you what. I don't comment on the fundamentals of these biotech deals because most of the time, I can't even pronounce the names of the drugs or studies involved. I will comment on this chart. So Horizon Therapeutics, over the last three months, up 68%. And a lot of that premium being built in today.

I'll just show you a chart over the last three years. You can see it's been kind of a whirlwind. So it was up quite a bit into the end of 2021, and then reached their low in the middle of 2022 and have come off quite markedly from that low. So could be a decent buy here for Amgen. Again, not commenting on the fundamentals of that deal.