Good morning, everyone, and welcome to another working week. We hope the weekend respite was relaxing and invigorating, because that oh-so familiar routine of online meetings, phone calls, and deadlines has predictably returned. But what can you do? The world, such as it is, keeps spinning … and spinning. So time to give it a nudge in a better direction with a cup of stimulation. Our choice today is the ever-so-subtle butter pecan. Fire up your own coffee kettle and join us. Meanwhile, here are the latest tidbits for you to peruse. We hope you have a smashing day and, of course, please do keep in touch. …
Amgen announced plans to purchase Horizon Pharmaceuticals for $27.8 billion, marking the latest bet by a large drug company on the lucrative market for treating a rare disease, STAT explains. The deal is the largest pharmaceutical merger announced this year, and it represents the most that Amgen has spent on an acquisition since its $16 billion purchase of Immunex in 2001. The prize in the latest deal is Tepezza, a treatment for moderate to severe thyroid eye disease, which afflicts an estimated 10,000 patients in the U.S. The product is expected to generate $1.97 billion in 2022 and $2.26 billion in 2023, according to FactSet, an investment data firm.
Roche disclosed that the head of its pharmaceuticals division had decided to leave after 16 years with the company, heralding a wider reshuffle in addition to a planned chief executive officer changeover early next year, Reuters notes. Bill Anderson, who once headed the Genentech unit, would quit at the end of the year “to pursue opportunities outside of Roche,” with a successor due to be named by March 2023. His departure means more fundamental change to manage for chief executive officer-designate Thomas Schinecker, who heads the diagnostics unit and is due to be promoted to group chief executive officer in March.
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