Rep. Comer Investigates FTC Involvement in Amgen’s Acquisition of Horizon Therapeutics

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AMGEN Inc. is a biotechnology company based in Thousand Oaks, California. It specializes in the discovery, development, manufacturing, and marketing of human therapeutics. Amgen Inc ($NASDAQ:AMGN). is the world’s largest independent biotechnology company and has a strong presence in the pharmaceutical industry. Recently, Congressman James Comer has been investigating the Federal Trade Commission’s (FTC) behavior in Amgen’s acquisition of Horizon Therapeutics, a specialty pharmaceutical company. Horizon Therapeutics is a leading producer of specialty drugs for immunology, rare diseases, and eye care. After review of the deal’s documents, Comer believes that the FTC did not take into account certain issues when approving Amgen’s acquisition of Horizon Therapeutics.

He stated that “The FTC was not able to adequately investigate numerous anticompetitive issues which have raised serious concerns as to whether the Amgen-Horizon merger was in the best interests of consumers or competition”. Comer also mentioned that there is an “urgent need for transparency and oversight of merger reviews” and hopes that this investigation will provide insight into how the FTC can better assess these deals. Overall, Congressman James Comer’s investigation into the Federal Trade Commission’s behavior in Amgen’s acquisition of Horizon Therapeutics will provide insight into how such deals can be better assessed by the FTC. This investigation could potentially result in changes to how the FTC evaluates such deals, benefiting both consumers and competition.

Market Price

Rep. James Comer is currently looking into the Federal Trade Commission’s (FTC) involvement in AMGEN INC‘s acquisition of Horizon Therapeutics. On Monday, AMGEN INC opened at $262.6 and closed at $265.4. The company is the second largest biotechnology company in the world and is well known for its innovative treatments in oncology, nephrology, and cardiovascular care. Rep. Comer is attempting to determine if the FTC was involved in the negotiations between AMGEN INC and Horizon Therapeutics.

He has requested documents from the FTC to explore the relationship between the two companies and how this acquisition would affect competition in the marketplace. The primary concern of Rep. Comer is that the FTC may have acted inappropriately by allowing AMGEN INC to purchase Horizon Therapeutics. The potential harm to the public if the FTC allowed such a deal to go through is an important issue that requires investigation. Live Quote…

About the Company

Income Snapshot

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Cash Flow Snapshot

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Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Amgen Inc. More…

Key Ratios Snapshot

Some of the financial key ratios for Amgen Inc are shown below. More…

Analysis

GoodWhale has conducted an analysis of AMGEN INC‘s fundamentals and have classified it as a ‘cow’ according to its Star Chart. This type of company has a track record of paying out consistent and sustainable dividends which makes it attractive to investors who prioritize long-term, steady income. AMGEN INC has a high health score of 8/10, indicating that it is financially sound with sustainable cash flows and manageable debt. This gives the company the ability to sustain future operations even in times of crisis. In terms of its financial health, AMGEN INC is strong in assets, dividend, and profitability. However, it is weak in terms of growth, as indicated by its Star Chart. This is likely due to the fact that it is a mature company with little room for expansion. More…

Peers

The competition between Amgen Inc and its competitors is fierce. Amgen Inc is the largest biotechnology company in the world, with a market capitalization of over $100 billion. Its competitors, Gilead Sciences Inc, Eli Lilly and Co, and Biogen Inc, are all large, well-established companies with significant resources. each company is striving to develop the best products and to gain market share. The competition is intense, and each company is working hard to win.

– Gilead Sciences Inc ($NASDAQ:GILD)

Gilead Sciences Inc is a biopharmaceutical company that focuses on the discovery, development, and commercialization of drugs. The company was founded in 1987 and is headquartered in Foster City, California. Gilead Sciences Inc has a market cap of 83.2B as of 2022, a Return on Equity of 24.03%. The company’s key products include HIV/AIDS treatment, hepatitis C treatment, and oncology products. Gilead Sciences Inc also has a pipeline of products in development for various indications, including HIV, hepatitis B, non-alcoholic steatohepatitis, and respiratory syncytial virus.

– Eli Lilly and Co ($NYSE:LLY)

Eli Lilly and Co is a pharmaceutical company headquartered in Indianapolis, Indiana. The company was founded in 1876 by Colonel Eli Lilly. The company develops and markets products in the areas of diabetes, oncology, immunology, neuroscience, and other areas. Lilly has operations in more than 60 countries and sells products in more than 125 countries. Lilly has been one of the world’s leading innovators in the pharmaceutical industry, with products such as Prozac, Zyprexa, and Cialis. The company has a market cap of 316.18B as of 2022 and a Return on Equity of 45.88%.

– Biogen Inc ($NASDAQ:BIIB)

Biogen Inc. is a global biotechnology company. The company is engaged in the discovery, development, manufacturing and commercialization of therapies for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune diseases. Biogen has a market cap of $39.12B as of 2022 and a return on equity of 14.98%. The company’s products include aducanumab, a monoclonal antibody for the treatment of Alzheimer’s disease; SPINRAZA, a therapeutic agent for the treatment of spinal muscular atrophy; and TYSABRI, a monoclonal antibody for the treatment of multiple sclerosis.

Summary

AMGEN INC (AMGN) is a pharmaceutical company focused on developing innovative treatments for patients with serious diseases. Recently, they have been in the news due to Rep. James Comer’s probe into the FTC’s conduct in AMGEN’s takeover of Horizon Therapeutics. For investors, AMGN is a profitable and relatively safe stock. The company has a strong track record of delivering consistent growth and dividend payments.

Analysts expect the company to continue to perform well in the long-term, as its product portfolio contains numerous blockbuster drugs that are expected to bring in steady revenue. In summary, AMGN is a great option for investors looking for a safe, stable, and profitable stock.