J&J unit says does not intend to bid for Horizon Therapeutics

Published on December 04, 2022 12:03 AM CET

J&J unit says does not intend to bid for Horizon Therapeutics — Image source: ©2022 Kalkine Media®

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Dec 3 (Reuters) - Johnson & Johnson unit Janssen Global Services said on Saturday that it does not intend to make an offer for biotech company Horizon Therapeutics Plc.

Last month, Horizon Therapeutics - which has a market capitalization of about $18 billion - said it was in talks with Amgen Inc, Sanofi and Janssen Global Services, all three of which have been active in deal-making this year.

Horizon makes drugs for rare, autoimmune and severe inflammatory diseases. It expects over $4 billion in global annual peak sales for its biggest drug Tepezza, which is used to treat thyroid eye disease.

French drugmaker Sanofi

said

on Friday that if it decides to bid for Horizon, it would do so in cash. (Reporting by Mrinmay Dey in Bengaluru, editing by Deepa Babington)

Reuters

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