J&J Unit Says It Has No Intention of Bidding for Horizon Therapeutics

By: MRT Desk

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J&J Unit Says It Has No Intention of Bidding for Horizon Therapeutics

Janssen Global Services, a unit of Johnson & Johnson (NYSE:JNJ), said Saturday that it has no intention of bidding for biotech company Horizon Therapeutics Plc.

Last month, Horizon Therapeutics — which has a market capitalization of about $18 billion — said it was in talks withAmgen Inc.AMGN), Sanofi (EPA:SASY) and Janssen Global Services, all three have been active in seeking deals this year.

Horizon manufactures medicines for rare, autoimmune and severe inflammatory diseases. It forecasts more than $4 billion in peak annual sales for its biggest drug, Tepezza, which is used to treat thyroid eye disease.

French drugmaker Sanofi said Friday that if it decides to bid on Horizon, it will do so in cash.

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