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Amgen Inc. is in advanced talks to buy drug company Horizon Therapeutics PLC, according to people familiar with the matter, in a takeover likely to be valued at well over $20 billion and mark the largest healthcare merger of the year. The U.S. biotechnology company was the last of three suitors standing in an auction for Horizon, the people said, after French drugmaker Sanofi SA said Sunday it was out of the running.

☆ Amgen says experimental obesity drug has promising durability
▼ + stars: | 2022-12-03 | by ( Deena Beasley | ) www.reuters.com time to read: +3 min

LOS ANGELES, Dec 3 (Reuters) - Amgen Inc's (AMGN.O) experimental obesity drug demonstrated promising durability trends in an early trial, paving the way for a larger mid-stage study early next year, company officials said ahead of a data presentation on Saturday. The small Phase I trial found that patients maintained their weight loss for 70 days after receiving the highest tested dose of the injected drug, currently known as AMG133. Amgen shares have gained about 5% since the company said on Nov. 7 that 12 weeks of trial treatment at the highest monthly dose of AMG133 resulted in mean weight loss of 14.5%. Patients treated with AMG133 did have side effects including nausea and vomiting, but most cases were mild and resolved within a couple of days after the first dose, Amgen said. The drug was developed from work at Amgen to identify genetic signals associated with lower fat mass and body weight, and also healthy metabolic profiles, explained Saptarsi Haldar, head of cardiovascular metabolic discovery at Amgen.

☆ J&J unit says does not intend to bid for Horizon Therapeutics
▼ + stars: | 2022-12-03 | by ( ) www.reuters.com time to read: 1 min

Dec 3 (Reuters) - Johnson & Johnson (JNJ.N) unit Janssen Global Services said on Saturday that it does not intend to make an offer for biotech company Horizon Therapeutics Plc (HZNP.O). Last month, Horizon Therapeutics - which has a market capitalization of about $18 billion - said it was in talks with Amgen Inc (AMGN.O), Sanofi (SASY.PA) and Janssen Global Services, all three of which have been active in deal-making this year. It expects over $4 billion in global annual peak sales for its biggest drug Tepezza, which is used to treat thyroid eye disease. French drugmaker Sanofi (SASY.PA) said on Friday that if it decides to bid for Horizon, it would do so in cash. Reporting by Mrinmay Dey in Bengaluru, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

☆ Sanofi says any offer for Horizon Therapeutics, if made, will be in cash
▼ + stars: | 2022-12-02 | by ( Dominique Vidalon | ) www.reuters.com time to read: +1 min

PARIS, Dec 2 (Reuters) - French drugmaker Sanofi (SASY.PA) said on Friday that if it decides to bid for biotech company Horizon Therapeutics Plc (HZNP.O), it would do so in cash. Horizon Therapeutics Plc, which has 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 over potential takeover offers. "Any offer for Horizon Therapeutics Plc (HZNP.O), if made, would be in cash, as required by Rule 2.12 of the Takeover Rules," Sanofi said in a statement. "There is no certainty that any offer will be made, nor as to terms on which any such offer may be made, if forthcoming," it added. Horizon, which makes drugs for rare, autoimmune and severe inflammatory diseases, has said there is no certainty that it will receive a takeover offer.

Stelara accounted for $9.1 billion of J&J's $52 billion in global drug sales last year. The drug is also approved to treat Crohn's disease, the skin condition psoriasis and a related form of arthritis. However, J&J alleges that Amgen failed to follow the legal process required by that law for the companies to litigate any patent disputes. If Amgen launches its drug, J&J said it would infringe J&J's patent on the drug's active ingredient and on its use for treating ulcerative colitis. J&J said in a statement that Janssen is "confident in its intellectual property and has filed suit to protect its rights."

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☆ Horizon Therapeutics fields buyout interest from Amgen, J&J and Sanofi
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

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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Nonpartisan forecasters and opinion polls suggested a strong chance of Republicans winning a House majority and a tight race for Senate control. Shares in healthcare, energy and defense sectors could see more volatility in the wake of the election. "A Republican victory is seen as removing either current regulations, like in the energy sector, or potential future regulations like in the pharmaceutical sector." The S&P 500 (.SPX) is up nearly 9% from its recent October lows, but has still posted steep losses this year on worries that aggressive monetary policy tightening would tip the U.S. economy into a recession. Among S&P 500 sectors, energy (.SPNY) and consumer discretionary (.SPLRCD) fell the most, down 1% and 0.5%, respectively.

WASHINGTON, Nov 7 (Reuters) - The U.S. Supreme Court on Monday rebuffed a bid by Bristol Myers Squibb Co's Juno Therapeutics Inc to reinstate a $1.2 billion award it won in its patent fight with Gilead Sciences Inc (GILD.O) subsidiary Kite Pharma Inc over a lymphoma drug. The justices turned away Juno's appeal of a lower court's ruling throwing out the award in the litigation over Kite's biologic drug Yescarta, in a case that could have repercussions for the cutting-edge biologic drug industry. Juno and Sloan Kettering Institute for Cancer Research sued Kite in 2017 in federal court in Los Angeles, accusing it of copying technology that the institute licenses to Juno. Juno and Sloan Kettering have told the Supreme Court that the Federal Circuit's decision to invalidate the patent and other rulings against biologic patents have been "devastating for innovation." On Nov. 4, the Supreme Court took up another patent case involving biologic drugs, agreeing to hear Amgen's bid to revive patents on its cholesterol drug Repatha.

The justices took up Amgen's appeal of the lower court ruling that threw out the Repatha patents. Amgen and other drugmakers have called the case a test of their ability to earn and defend patents for important drugs. Amgen first sued Regeneron and Sanofi in 2014 over their rival drug Praluent, which works by a similar mechanism as Repatha. Thousand Oaks, California-based Amgen sold more than $1.1 billion worth of Repatha worldwide last year. Regeneron sold $170 million worth of Praluent in the United States last year, and Sanofi sold over $200 million worth in the rest of the world.

☆ New U.S. cancer drug prices rise 53% in five years -report
▼ + stars: | 2022-11-02 | by ( Deena Beasley | ) www.reuters.com time to read: +4 min

"I do think there is a possibility we see launch prices go up," she said. Reuters GraphicsPorter, who championed inflation-based caps on drug prices, is calling for additional national legislation to link launch prices to how well a drug works. The report found that the average launch price of a self-administered cancer drug, after adjusting for inflation, rose by nearly 26% to $238,000 between 2017 and 2021. By 2022, six out of the eight newly-launched oral cancer drugs had prices over $200,000 per year. Based on current trends, the report calculated that by 2026, when Medicare will first be able to negotiate drug prices, the average self-administered cancer drug launch price will be nearly $325,000 per year and over $525,000 for pills and biologics.

☆ S&P 500, Nasdaq end lower; BoE comments add to market jitters late
▼ + stars: | 2022-10-11 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Trading was volatile, with investors cautious ahead of key U.S. inflation data and the start of third-quarter earnings later this week. The S&P banks index (.SPXBK) was down 2.6% ahead of quarterly results from some major banks later this week. The reports are expected to kick off the third quarter reporting period for S&P 500 companies. read moreDeclining issues outnumbered advancing ones on the NYSE by a 1.50-to-1 ratio; on Nasdaq, a 1.51-to-1 ratio favored decliners. The S&P 500 posted one new 52-week high and 104 new lows; the Nasdaq Composite recorded 33 new highs and 590 new lows.

☆ Dow, S&P 500 rise after recent losses; investors prepare for inflation, earnings data
▼ + stars: | 2022-10-11 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Register now for FREE unlimited access to Reuters.com RegisterInvestors were anxiously awaiting the producer price index report Wednesday and consumer price index data on Thursday. "A few investors might be trying to bet on a better-than-expected inflation report," said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago. The S&P bank index (.SPXBK) was down 1.1% ahead of quarterly results from some major banks later this week. The reports are expected to kick off the third-quarter reporting period for S&P 500 companies. The S&P 500 posted one new 52-week high and 95 new lows; the Nasdaq Composite recorded 19 new highs and 517 new lows.

☆ S&P 500, Nasdaq fall on fears of profit hit from inflation, rate hikes
▼ + stars: | 2022-10-11 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +4 min

With recent jobs and inflation data suggesting more big interest rate hikes by the Federal Reserve, Wall Street's main indexes have been clocking losses in the past few sessions on fears of the economy slipping into a recession. Register now for FREE unlimited access to Reuters.com Register"The market wants to see data, show me the numbers, show me we're getting inflation down. 1/4 A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 11, 2022. The CBOE Volatility index (.VIX), rose for a fourth straight session, inching closer to near two-weeks high. The S&P index recorded one new 52-week high and 95 new lows, while the Nasdaq recorded 15 new highs and 492 new lows.

☆ Wall St falls on worries of lower third-quarter corporate profit; Amgen jumps
▼ + stars: | 2022-10-11 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +4 min

Big U.S. banks are set to report quarterly results on Friday that may offer insight into the health of the U.S. economy. "Right now the market wants to see data, show me the numbers, show me we're getting inflation down. Until then, this market is probably stuck in this whole death by a 1,000 cuts scenario," Dick said. Declining issues outnumbered advancers for a 3.28-to-1 ratio on the NYSE and for a 2.36-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week high and 71 new lows, while the Nasdaq recorded 10 new highs and 250 new lows.

The three main indexes have been on a loss-making streak in the past few sessions as recent data continues to point to more policy tightening by the U.S. Federal Reserve that could tip the economy into a recession. With recent economic indicators signaling persistent inflation going forward, money markets are pricing in a 92% chance of another 75-basis-point hike at the Fed's meeting in November. read moreMajor U.S. banks are set to report third-quarter results on Friday that may offer insight into the health of the U.S. economy. ET, Dow e-minis were up 6 points, or 0.02%, S&P 500 e-minis were down 2.25 points, or 0.06%, and Nasdaq 100 e-minis were down 10.25 points, or 0.09%. Amgen Inc (AMGN.O) shares jumped nearly 3% after a report said Morgan Stanley upgraded the drugmaker's stock to "overweight" from "equal weight".

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