Amgen Inc. Updates on Acquisition of Horizon Therapeutics

Amgen Inc. has provided an update on the ongoing acquisition of Horizon Therapeutics, a process that has been delayed due to a complaint filed by the U.S. Federal Trade Commission (FTC) seeking a temporary restraining order and preliminary injunction. The acquisition was originally expected to close in mid-December 2022, but the FTC's litigation has put the process on hold. Amgen has expressed confidence that the schedule set by the court will allow the acquisition to close by mid-December 2023 if the FTC's request for a preliminary injunction is denied.

Key Takeaways:

• The acquisition of Horizon Therapeutics by Amgen Inc. is ongoing but has been delayed due to a complaint filed by the FTC.
• Amgen expects the acquisition to close by mid-December 2023 if the FTC's request for a preliminary injunction is denied.
• The FTC's litigation has imposed restrictions on and may impede or preclude the completion of the acquisition.
• Amgen's directors have accepted responsibility for the information contained in this announcement.
• The acquisition is subject to certain conditions, including the satisfaction of conditions for consummation and the ability to resolve the FTC litigation.
• Amgen's and Horizon's Chief Executive Officers have expressed confidence in the successful integration of Horizon into Amgen after the acquisition.

Statistics:

• The acquisition was originally expected to close in mid-December 2022.
• The court issued an order granting a revised stipulated temporary restraining order on June 2, 2023.
• The revised stipulated temporary restraining order sets the earlier of October 31, 2023 or the second business day after the court rules on the FTC's request for a preliminary injunction as the deadline for the acquisition.
• Amgen expects to close the acquisition by mid-December 2023 if the FTC's request for a preliminary injunction is denied.