TL/DR –
Antitrust activities in the health care and pharmaceutical sectors were particularly high in 2023, with notable actions including the Federal Trade Commission’s (FTC) challenge of a merger between Amgen Inc. and Horizon Therapeutics plc. In December 2022, California-based biotechnology company Amgen announced plans to acquire Irish biopharmaceutical company Horizon for approximately $28 billion. Despite Amgen stating that Horizon’s pipeline of medicines would nicely complement its own R&D portfolio and that none of its drugs competed with Horizon’s, the FTC still contested the merger.
2023 Antitrust Activities in Healthcare and Pharmaceuticals
There was a surge in antitrust activities in the health care and pharmaceutical industries in 2023. Major events include the Federal Trade Commission’s (FTC) objection to the merger between biotechnology company Amgen Inc. and biopharmaceutical firm Horizon Therapeutics plc, the mutual withdrawal by agencies of long-standing health care merger policies, and increased scrutiny towards pharmacy benefit managers. This article provides an overview of the most significant antitrust occurrences in these sectors during the year.
Amgen and Horizon Therapeutics Merger
In December 2022, California-based Amgen announced intentions to acquire Horizon, an Irish biopharmaceutical company specializing in rare and rheumatic disease treatments, in a deal worth approximately $28 billion. Amgen stated that Horizon’s distinct medicinal pipeline would augment its research and development portfolio, highlighting that none of Amgen’s drugs currently compete with Horizon’s offerings.
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