The Federal Trade Commission (FTC) has signed off on Amgen’s proposed $27.8 billion purchase of Horizon Therapeutics . The acquisition, one of the largest pharma deals in recent years, is set to close in the early fourth quarter of 2022.

The agreement resolves an FTC lawsuit filed in May attempting to block the deal over antitrust concerns. FTC did not entirely let Amgen off the hook, however, as it is prohibiting Amgen from bundling two of Horizon’s top drugs — the thyroid eye disease therapy Tepezza (teprotumumab-trbw) and gout medicine Krystexxa (pegloticase). The agency also will require Amgen to get FTC approval before it acquires any products treating the same diseases as Tepezza and Krystexxa until 2032. The agency also set other requirements that will be in place for 15 years. State attorneys general agreed to dismiss their suits as part of the deal.

Amgen-Horizon merger announced in late 2022

Amgen said the deal with FTC would have no impact on its business. The company first sought to acquire Horizon in December 2022 to bolster its rare disease pipeline. But the deal quickly sparked potential antitrust concerns at FTC. The chair of the agency, Lina Khan, said FTC will continue challenging deals with the potential to hurt patients.

The Amgen-Horizon deal was one of the largest announced in 2022 and 2023.

Other recent proposed mega-deals included Pfizer’s plans to scoop up Seagen for $43 billion in March 2023.  That same month, Sanofi said it planned to buy Provention Bio for $2.9 billion.

Merck has made two sizable immunology plays, acquiring Prometheus Biosciences for $10.8 billion and Imago BioSciences for $1.35 billion.

AstraZeneca has also been active, with 3 deals totaling over $3 billion. These include the purchases of CinCor Pharma for $1.8 billion,