Amgen’s $27.8 Billion Horizon Takeover Allowed in FTC Accord (3)

Amgen Inc. can move forward with its $27.8 billion takeover of Horizon Therapeutics Plc after the US Federal Trade Commission said Friday that it accepted a binding settlement that the combined company won’t bundle together two of Horizon’s blockbuster drugs.

The acquisition – Amgen’s largest ever – was announced in December and the FTC sued in May, in its first federal court challenge to a pharmaceutical deal since 2009. The settlement will avoid an injunction hearing that was set to begin Sept. 13 in Chicago federal court.

Horizon shares rose 2.9% in premarket trading on the news. Seagen Inc., ...