Horizon's drugs can help fill this gap.Īmong Horizon's offerings, the most important is Tepezza. Mizuho Bank analyst Salim Syed noted that Amgen's $10 billion in 2022 revenue, or about 40% of that, could be lost in 2030. Like many of its peers, Amgen faces the possibility of a severe revenue decline by 2030, as key products such as the psoriasis treatment Otezza and the arthritis treatment Enbrel begin to encounter competition from generic and biosimilars.Įnbrel expects to bring in $4.1 billion in revenue this year, and it faces additional near-term threats as rival Humira's biosimilars hit the market on a large scale next year. Why are so many big biopharmaceutical companies rushing to acquire Horizon? Amgen, which finally created this huge biotechnology merger and acquisition, is the subsequent digestion smooth? This year's M&A activity has been less than many investors had expected. On December 11, Sanofi also said that the transaction price expectation did not meet its "value creation criteria". On December 3, Johnson & Johnson announced its withdrawal from the bid. Compared with the closing price on November 29, Novartis offered a premium of about 47.9% per share.īecause Horizon is based in Ireland, the company and its acquirers are required to repeatedly disclose information during negotiations under Ireland's acquisition rules. On the day the acquisition was disclosed, Horizon shares rose 14%. For Horizon, it's undoubtedly a matter of shouting and money being made together. The $27.8 billion transaction is the largest biotech acquisition to date in 2022. You’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself.On December 12, Amgen announced that it would acquire Horizon Therapeutics for $116.50 per share in cash. Previously, Sanofi and Johnson & Johnson were involved in this bidding war. Simply Wall St has no position in any stocks mentioned. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. We aim to bring you long-term focused analysis driven by fundamental data. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. This article by Simply Wall St is general in nature. Alternatively, email editorial-team (at). Have feedback on this article? Concerned about the content? Get in touch with us directly. We've done some analysis and you can see our take on Horizon Therapeutics' balance sheet. While earnings are important, another area to consider is the balance sheet. The company's shares are up 25% from a week ago. Performance of the American Biotechs industry. on average during the next 3 years, compared to a 14% growth forecast for the Biotechs industry in the US. Looking ahead, revenue is forecast to grow 10% p.a. Earnings per share (EPS) also surpassed analyst estimates by 3.0%. Revenue exceeded analyst estimates by 4.2%. Horizon Therapeutics Revenues and Earnings Beat Expectations
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