On Friday September 1, 2023, the Federal Trade Commission (FTC) announced that it had reached an agreement with drug giant Amgen to allow its $27.8 billion bid to acquire Horizon Therapeutics. The agreement resolves a lawsuit the FTC filed in May, 2023 seeking to block the Amgen-Horizon Therapeutics merger. The agreement will avoid an injunction hearing that was scheduled to begin on September 13, 2023 in Chicago federal court. According to this agreement, the combined company won’t bundle together two of Horizon’s blockbuster drugs: thyroid eye disease therapy Tepezza  and Krystexxa, a gout medicine. 

      According to Brand Value (China) Network, in December 2022, Amgen first proposed to buy Horizon in an effort to gain access to the latter’s rare disease assets, but the buyout was quick to attract the FTC’s  scrutiny for its potential antitrust issues. In May 2023,  the FTC filed a lawsuit and argued that Amgen could pressure insurers and pharmacy benefit managers to accept higher prices for Horizon’s two blockbuster drugs based on the company’s history. In 2022, those two medications resulted in about $2.69 billion in revenue for Horizon. However, Amgen and Horizon find the FTC’s argument too speculative because FTC couldn’t identify any documents produced by either company suggesting such a plan. They further pointed out that FTC’s bundling allegations are simply made up without any solid facts.

     Lina Khan, the FTC chairwoman, made a separate statement and commented that the agency will“continue to challenge unlawful practices that raise drug prices, inhibit access, stifle innovation, or otherwise hurt patients.”Currently, the FTC is reviewing Pfizer’s $43 billion acquisition of cancer drug developer Seagen, one of the largest deals of this year. In July, 2023, the agency started an in-depth investigation into this acquisition.

    Amgen (Applied Molecular Genetics Inc.) was established in Thousand Oaks, California, on April 8, 1980, as the brainchild of venture capitalists William K. (Bill) Bowes and associates.As of today, it is one of the world's largest independent biotechnology companies with 24,000 employees in total including hundreds of scientists. Amgen has 27 approved drugs, including blockbuster treatments like Enbrel for rheumatoid arthritis and Otezla for psoriasis.

   Horizon Therapeutics Public Ltd Co is a biopharmaceutical company focused on researching, developing, and commercializing medicines that address critical needs for people impacted by rare and rheumatic diseases. In December 2022, Horizon said that it would be acquired by Amgen for $27.8 billion ($116.50 in cash for each Horizon share, a 20% premium).In May 2023, the FTC said it would file a lawsuit to block the deal in an attempt to control drug prices.

      On the ranking of “The 3rd Daguan· Keweiwei World Brand Value Top 900” released on March 18, 2023, Pfizer’s brand value was 701.675 billion RMB, ranking the 20th; Amgen’s brand value was 165.647 billion RMB, ranking 155th.

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作者：杨瑞安