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FTC Targets Amgen Bundling And Rebates In Suit To Block Horizon Acquisition

 
• By Brenda Sandburg

Complaint marks first time agency has raised novel theories of competitive harm in pharma merger and is rare instance in which it has filed a complaint without a consent decree. Last time FTC has gone to court to block a pharma merger was in 2008.

FTC building
FTC files complaint to block Amgen's acquisiton of Horizon Therapeutics • Source: Shutterstock

The US Federal Trade Commission signaled its intent to pursue novel theories of anticompetitive harm in reviewing biopharmaceutical transactions two years ago. It finally did so in filing a lawsuit to block Amgen, Inc.’s proposed $27.8bn acquisition of Horizon Therapeutics plc, contending the deal would enable Amgen to use rebates on its existing blockbuster drugs to pressure insurance companies and pharmacy benefit managers into favoring two Horizon products that do not currently have competition.

The redacted complaint, filed on 16 May in the US District Court for the Northern District of Illinois, is striking as the companies do not have portfolio overlaps and the Commission is not requesting them to divest drugs to avoid anticompetitive harms. That has been the previous course of action when FTC challenged pharma deals

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