Amgen Delves Further Into Immune Therapies With Horizon Deal (1)

Amgen Inc. agreed to buy Horizon Therapeutics Plc for about $27.8 billion in its biggest-ever acquisition, deepening its commitment to treatments for autoimmune, inflammatory and rare diseases.

Amgen will pay $116.50 a share in cash, the companies said in a statement Monday, for a premium of about 48% since Horizon Therapeutics disclosed on Nov. 29 that it was in early talks with three suitors. The announcement confirms an earlier report by Bloomberg News.

Horizon shares gained as much as 15% to $112 as of 1 p.m., their highest intraday level since April. Amgen’s fell 1.5%.

Watch: Amgen will buy Horizon Therapeutics for about $27 billion.

Source: Bloomberg

Horizon’s therapeutic focus ...