REUTERS/Robert Galbraith/
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U.S. District Judge John Kness, who will decide if Amgen can go forward with its $27.8 billion purchase of Horizon Therapeutics said he was considering an evidentiary hearing on the matter in September, and that he would likely take about four weeks after the hearing ends to make a ruling.
The Federal Trade Commission filed a lawsuit on May 16 aimed at stopping the transaction in a rare move to block a large pharmaceutical deal. The FTC is concerned Amgen would leverage its big-selling drugs to pressure insurance companies and pharmacy benefit managers to give favorable terms for Horizon.
Amgen said in a statement it had “overwhelmingly demonstrated” that the deal had no legitimate competitive issues.
Amgen on Tuesday also settled a patent lawsuit over a proposed biosimilar version of Johnson & Johnson’s top-selling treatment Stelara.
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Faced with an extraordinary flood of objections from AMC Entertainment Holdings investors who are suspicious of a proposed $129 million settlement on their behalf, a Delaware judge on Saturday ordered the company to throw open access to all of the evidence underpinning the deal – including internal AMC financial information and discovery obtained from banks and investment funds. Alison Frankel explains why Vice Chancellor Morgan Zurn of Delaware Chancery Court ruled that individual investors in AMC common stock are entitled to see the discovery underpinning the settlement, despite warnings from AMC and the shareholders who back the deal that bad actors could hurt the company by abusing the right to see its secrets.
Check out other recent pieces from all our columnists: Alison Frankel, Jenna Greene and Hassan Kanu.
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