In a recent development, the Federal Trade Commission (FTC) has decided to temporarily halt its in-house proceedings to block Amgen Inc.’s takeover of Horizon Therapeutics Plc, a deal valued at $27.8 billion. The pause sets the stage for potential settlement talks that could resolve the agency’s challenge to the deal.
The FTC issued an order on the last Friday, announcing the pause of the case until September 18. This break will provide an opportunity for Amgen and Horizon to put forth a settlement proposal to the FTC’s three commissioners, which, if accepted, could eliminate the need for further litigation.
However, it is noteworthy that Amgen has commented in a statement that it has no intention of bundling Horizon’s drugs with its own. The Chicago federal court hearing for the case remains on the docket for September 13 despite the temporary pause by the FTC.
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