If Sanofi Opted For Takeover Of Horizon Therapeutics, It Would Be In Cash

Sanofi SNY said that if it ever bid for biotech company Horizon Therapeutics Public Limited Co HZNP, it would do so in cash.
Horizon Therapeutics Plc has a market capitalization of about $18 billion and is in talks with Amgen Inc AMGN, Sanofi, and Johnson & Johnson JNJ unit Janssen Global Services over potential takeover offers.
Horizon, which makes drugs for rare, autoimmune, and severe inflammatory diseases, has said there is no certainty that it will receive a takeover offer.
UBS said a deal "would be doable and would not screen badly in terms of P&L impact" but expressed doubts over a sale taking place, Reuters reports.
While acquiring Horizon would add a mixed portfolio of specialty drugs to Sanofi's roster, it would not address the French company's need to develop its drug pipeline and improve its productivity from research and development, UBS said.
Sanofi, in 2022 completed the buyout of immuno-oncology company Amunix Pharmaceuticals for around $1 billion.
Price Action: SNY shares traded lower by 1.85% at $45.02 on the last check Friday.