Oct 6 Reuters Amgen said on Friday it had completed the 27.8 billion acquisition of Horizon Therapeutics after it received the goahead from the U.S. Federal Trade Commission FTC last month on certain conditions.

Under the settlement terms with the FTC following its lawsuit to block the deal, Amgen is prevented from using anticompetitive tactics to extend the market dominance of Horizon39;s fastgrowing thyroid eye disease treatment Tepezza and gout drug Krystexxa.

The FTC39;s antitrust lawsuit had raised concerns over increased oversight on mergers and acquisitions in a sector that often turns to consolidation to power future growth as patents on older treatments expire.

The deal closure was within the fourthquarter timeline set by the two companies, and is expected to add to Amgen39;s adjusted earnings from next year.

Amgen, which has gained Horizon39;s two key products Tepezza and Krystexxa, said it will provide an updated annual forecast during its thirdquarter earnings call on Nov. 1.

RBC Capital Markets analyst Gregory Renza expects Amgen39;s updated forecast to weave in revenue from Horizon39;s drugs, which could partially offset the company39;s maturing product line.

Tepezza could be a core driver for Amgen, Renza said, adding that the drug can bring in 3.9 billion in peak sales.

Reporting by Mariam Sunny and Sriparna Roy in Bengaluru; Editing by Anil D39;Silva and Sherry JacobPhillips

Source Reuters