Sanofi says any offer for Horizon Therapeutics, if made, will be in cash

  • In US
  • 2022-12-02 07:34:17Z
  • By Reuters

By Dominique Vidalon

PARIS (Reuters) -French drugmaker Sanofi said on Friday that if it decides to bid for biotech company Horizon Therapeutics Plc, it would do so in cash.

Horizon Therapeutics Plc, which has a market capitalization of about $18 billion, is in talks with Amgen Inc, Sanofi and Johnson & Johnson unit Janssen Global Services over potential takeover offers.

"Any offer for Horizon Therapeutics Plc, if made, would be in cash, as required by Rule 2.12 of the Takeover Rules," Sanofi said in a statement.

"There is no certainty that any offer will be made, nor as to terms on which any such offer may be made, if forthcoming," it added.

Shares in Sanofi fell after its statement and were down 2.2% at 85.51 euros by 0733 GMT.

Horizon, which makes drugs for rare, autoimmune and severe inflammatory diseases, has said there is no certainty that it will receive a takeover offer.

Sanofi has made several large-scale takeover deals in recent years, and earlier this year it completed the buyout of immuno-oncology company Amunix Pharmaceuticals for around $1 billion.

(Reporting by Dominique Vidalon;Editing by Sudip Kar-Gupta and Susan Fenton)


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