Amgen agrees not to close Horizon deal before Sept. 15 in court agreement with FTC
JHVEPhoto/iStock Editorial via Getty Images

Amgen (NASDAQ:AMGN) agreed not to close its $28 billion purchase of Horizon Therapeutics (NASDAQ:HZNP) before Sept. 15 or the second business day after the court rules on the Federal Trade Commission's request to block the deal. 

Horizon (HZNP) expects that its planned sale to Amgen (AMGN) can close by the end of Q3 or early in Q4 if the FTC's request for a preliminary injunction is denied by the federal court, according to an 8-K filing. 

A case management conference on the FTC's suit to block the transaction is set for May 23.
Shares of Horizon Therapeutics (HZNP) gained 4.2% on Wednesday, reversing some of the 16% decline on Tuesday after investors saw the actual FTC complaint, which had originally been filed under seal, and there was some speculation about a potential settlement.