Amgen to buy Horizon Therapeutics in $26.4B deal

Amgen said Monday it will acquire Horizon Therapeutics, a biopharmaceutical company that focuses on treatments for rare, autoimmune diseases. (AP file)

Amgen is spending more than $26 billion to dive deeper into rare disease treatments with the acquisition of drugmaker Horizon Therapeutics.

The biotech drug developer said Monday that it will pay $116.50 in cash for each share of Horizon, which makes a treatment for thyroid eye disease that generated more than $1 billion in its first full year on the market.