Indaptus Therapeutics Inc
Change company Symbol lookup
Select an option...
INDP Indaptus Therapeutics Inc
FUSN Fusion Pharmaceuticals Inc
RDUS Schnitzer Steel Industries Inc
ALEC Alector Inc
LZM Lifezone Metals Ltd
LMRMF Lomiko Metals Inc
SOXL Direxion Daily Semiconductor Bull 3X Shares
OXSQ Oxford Square Capital Corp
BAER Bridger Aerospace Group Holdings Inc
CMRA Comera Life Sciences Holdings Inc

Health Care : Biotechnology |
Company profile

Indaptus Therapeutics, Inc. is a clinical biotechnology company. The Company is focused on enhancing and expanding curative cancer immunotherapy for patients with unresectable or metastatic solid tumors and lymphomas. It designs its approach by targeting specific tumor or viral antigens. Its lead candidate, Decoy20, through pre-clinical development. Its platform is based on the hypothesis that require anti-tumor immunotherapy to activate both innate and adaptive cellular immunity in both tumors and immune organs. Its approach uses multi-targeted package of bacterial pathogen-associated molecular patterns (PAMPs), in the form of attenuated and killed, intact but non-pathogenic bacteria delivered intravenously. Its intravenous therapeutic candidates target the liver, spleen, and leaky vasculature of tumors, producing immune activation in an immune organ, as well as a common site for primary and metastatic cancer and hepatitis B virus (HBV) infection.

Closing Price
Day's Change
-0.25 (-9.23%)
B/A Size
Day's High
Day's Low

10-day average volume:

FTC sues to block Amgen's acquisition of Horizon Therapeutics

8:30 am ET May 17, 2023 (MarketWatch)

By Eleanor Laise

Deal could allow Amgen to 'entrench the monopoly positions' of two Horizon medications, regulators say

The Federal Trade Commission is suing to block biopharma giant Amgen Inc.'s (AMGN) proposed acquisition of Horizon Therapeutics PLC (HZNP), saying the deal would allow Amgen to "entrench the monopoly positions" of Horizon treatments for two serious medical conditions.

By acquiring Horizon, Amgen could use rebates on its blockbuster drugs to pressure insurance companies and pharmacy benefit managers to favor Horizon treatments for thyroid eye disease and chronic refractory gout, the FTC said. Those treatments, Tepezza and Krystexxa, have no competitors, the agency said.

By offering attractive rebates on high-volume drugs such as Enbrel, Amgen can get preferred placement for other products on insurers' and PBMs' lists of covered drugs, the FTC said. The value of such rebates on Amgen's blockbuster drugs, the agency said, "may make it difficult, if not impossible, for smaller rivals" developing treatments to compete with Tepezza and Krystexxa to match Amgen's offer.

The proposed $27.8 billion deal, announced late last year, is the largest pharmaceutical transaction announced in 2022, the FTC said.

"Amgen is disappointed by the FTC's decision and remains committed to completing this acquisition," the company said in a statement. After working for several months to address the FTC's questions, Amgen said it had "overwhelmingly demonstrated that this combination poses no legitimate competitive issues."

Amgen made a commitment not to "bundle," or offer multiproduct discounts tied to the Horizon products at issue in the FTC complaint, the company said in its statement. Horizon said in a statement that it also has no plans to bundle any of its rare-disease treatments and that the deal "has the potential to accelerate the availability of important rare disease medicines to more patients worldwide."

The FTC's lawsuit comes amid a spate of pharmaceutical deal making, including Pfizer Inc.'s (PFE)announcement in March that it would acquire Seagen Inc. (SGEN) and Merck &Co.'s (MRK)agreement last month to buy Prometheus Biosciences Inc. (RXDX). The FTC also launched an investigation last year into pharmacy benefit managers, saying it would examine how the major prescription-drug middlemen vertically integrated with insurance companies and mail-order and specialty pharmacies are influencing the accessibility and affordability of prescription drugs.

"Rampant consolidation in the pharmaceutical industry has given powerful companies a pass to exorbitantly hike prescription drug prices, deny patients access to more affordable generics, and hamstring innovation in life-saving markets," Holly Vedova, director of the FTC's competition bureau, said in a statement. The lawsuit filed Tuesday, she said, sends a signal that the agency will challenge deals that let pharmaceutical companies entrench monopolies "at the expense of consumers and fair competition."

Amgen shares are down 1.3% on Tuesday, while Horizon shares are down 15%.

-Eleanor Laise

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.


(END) Dow Jones Newswires

May 17, 2023 08:30 ET (12:30 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2023 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2023. All rights reserved.