FTC Takes A Rare Step Back, Pauses Legal Battle With Amgen Over $28B Horizon Deal
Portfolio Pulse from Bibhu Pattnaik
The Federal Trade Commission (FTC) has paused its legal challenge against Amgen's proposed acquisition of Horizon Therapeutics, valued at $27.8 billion. This pause allows for potential settlement discussions. The FTC had concerns that Amgen could use its dominant position to solidify monopolies for Horizon's leading treatments. Amgen has assured it would not bundle Horizon's treatments with its own product line, a move that could give them an undue advantage. The FTC's decision to pause is rare, as it has been proactive in scrutinizing deals and initiating legal actions to prevent them.
August 26, 2023 | 4:28 pm
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NEUTRAL IMPACT
Activision Blizzard's past deal with Microsoft was mentioned as an example of FTC's unsuccessful bid to prevent deals.
Activision Blizzard was mentioned in the context of past FTC actions, but the news does not directly impact Activision Blizzard's current operations or stock.
CONFIDENCE 90
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
Meta Platforms' past purchase of a virtual-reality firm was mentioned as an example of FTC's unsuccessful bid to prevent deals.
Meta Platforms was mentioned in the context of past FTC actions, but the news does not directly impact Meta Platforms' current operations or stock.
CONFIDENCE 90
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
Microsoft's past deal with Activision Blizzard was mentioned as an example of FTC's unsuccessful bid to prevent deals.
Microsoft was mentioned in the context of past FTC actions, but the news does not directly impact Microsoft's current operations or stock.
CONFIDENCE 90
IMPORTANCE 20
RELEVANCE 20
POSITIVE IMPACT
Amgen's proposed acquisition of Horizon Therapeutics may move forward if a settlement is reached during the FTC's pause on its legal challenge. Amgen has assured it would not bundle Horizon's treatments with its own product line.
The FTC's pause on its legal challenge against Amgen's proposed acquisition of Horizon Therapeutics opens a window for potential settlement discussions. If a settlement is reached, this could positively impact Amgen's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Horizon Therapeutics' acquisition by Amgen may proceed if a settlement is reached during the FTC's pause on its legal challenge. The acquisition could bolster the accessibility of Horizon's specialized medications.
The FTC's pause on its legal challenge opens a window for potential settlement discussions. If a settlement is reached, this could positively impact Horizon Therapeutics' stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100