Amgen (AMGN.O), which earlier this month acquired Horizon Therapeutics for $27.8 billion, on Tuesday said its third-quarter product sales rose 5% as double-digit volume growth was offset by lower prices.
An Amgen sign is seen at the company's office in South San Francisco, California October 21, 2013. REUTERS/Robert Galbraith/File Photo, which earlier this month acquired Horizon Therapeutics for $27.8 billion, on Tuesday said its third-quarter product sales rose 5% as double-digit volume growth was offset by lower prices.
The California biotech also raised the low end of its forecast range for 2023 adjusted earnings and now expects $18.20 to $18.80 per share, from $17.80 to $18.80 earlier. Horizon "is a great rare disease business ... We're confident now that we've officially closed and joined forces," Amgen Chief Financial Officer Peter Griffith said in a phone interview.
Investors will be keen to see whether Amgen, which has operations around the world, can help boost sales of Horizon's two key products, thyroid eye disease treatment Tepezza and gout drug Krystexxa.
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