J&J opts out of Horizon leaving out Amgen, Sanofi as only bidders
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Johnson & Johnson (NYSE:JNJ) confirmed on Saturday that the company would not intend to bid for Horizon Therapeutics (HZNP), a claim that would leave rivals Amgen (AMGN) and Sanofi (SNY) (OTCPK:SNYNF) as potential contenders to acquire the Ireland-based biotech.

Horizon (HZNP) shares surged in the post-market trading Tuesday after the company disclosed early takeover talks with Amgen (AMGN), Janssen Global Services of J&J (JNJ), and Sanofi (SNY).
The statement came after The Wall Street Journal first reported early buyout discussions indicating a potential deal size of more than $20B for the rare-disease-focused biotech.

âFurther to the announcement by Horizon on November 29, 2022, Janssen Global Services, LLC (âthe Companyâ) confirmed today that it does not intend to make an offer for Horizon,â J&Jâs (JNJ) Janssen unit said as required by the Irish Takeover Rules.
On Friday, Amgen (AMGN) and Sanofi (SNY) shares fell after the companies said in two separate statements that any offer for Horizon (HZNP) would be in cash.