Horizon's stock jumps 32% as the company confirms takeover interest from pharma giants
10:31 am ET November 30, 2022 (MarketWatch) Print
Shares of Horizon Therapeutics Plc rallied 32.8% in premarket trading on Wednesday, the day after the company confirmed to The Wall Street Journal that it's in early talks to be acquired by Amgen Inc. , Johnson & Johnson , or Sanofi in a deal that could be worth up to $20 billion. Horizon put a news release on Tuesday night confirming the preliminary acquisition discussions with the three companies. Horizon primarily focuses on developing drugs for autoimmune and severe inflammatory diseases. The stock is down 26.9% this year, while the broader S&P 500 has declined 16.9%.
-Jaimy Lee
(END) Dow Jones Newswires
November 30, 2022 10:31 ET (15:31 GMT)
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