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Amgen and Pfizer Complete Acquisitions but Lay Off Employees
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Amgen, a California biotech company, has completed its $27.8 billion acquisition of Horizon Therapeutics after receiving approval from the FTC. However, Amgen plans to lay off 350 Horizon Therapeutics employees following the acquisition. Pfizer has also received unconditional EU antitrust approval for its $43 billion acquisition of cancer drug maker Seagen.
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How might the FTC's lawsuit to block the acquisitions affect future mergers and acquisitions in the sector?
How will the layoffs at Amgen and Pfizer impact the companies?
What are the potential implications of the acquisitions for the pharmaceutical industry?
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