The biotech company, with a market capitalization of about $18 billion, is in talks with Amgen Inc (AMGN.O), Sanofi (SASY.PA) and Johnson & Johnson (JNJ.N) unit Janssen Global Services.
Amgen acquired ChemoCentryx in a $4 billion deal in October, while J&J earlier this month announced a $16.6 billion bid for Abiomed (ABMD.O).
Sanofi earlier this year completed the buyout of immuno-oncology company Amunix Pharmaceuticals for around $1 billion.
Amgen declined to comment on the talks, while Sanofi and Janssen Global were not immediately available.
Horizon expects over $4 billion in global annual peak sales for its biggest drug Tepezza, which is used to treat thyroid eye disease.
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