Amgen (NASDAQ: AMGN) and Horizon Therapeutics plc (NASDAQ: HZNP) have jointly announced the execution of a consent order agreement with the Federal Trade Commission (FTC) as a resolution to the ongoing FTC administrative lawsuit. This agreement paves the way for the final steps toward completing Amgen's acquisition of Horizon.

In light of the consent order agreement, both Amgen and Horizon anticipate that they will collectively submit stipulated proposed orders for the dismissal of the preliminary injunction motion and the dissolution of the temporary restraining order (TRO) at the U.S. District Court for the Northern District of Illinois. Furthermore, they will expedite the process to secure the final approvals required under Irish law to conclude the acquisition.

Amgen has consistently communicated to the FTC, the courts, and the public that it possesses no rationale, capability, or intention to bundle Horizon's TEPEZZA® (teprotumumab-trbw) or KRYSTEXXA® (pegloticase injection) with any of its own products. This specific assurance, formalized through the consent order with the FTC, is expected to have no bearing on Amgen's business operations.

The companies anticipate that the acquisition will be finalized in the early fourth quarter of 2023. They eagerly anticipate the opportunity to provide assistance to patients worldwide grappling with rare diseases.