By Colin Kellaher

Shares of Horizon Therapeutics PLC jumped more than 10% in premarket trading Monday after The Wall Street Journal reported that Amgen Inc. in advanced talks to buy the drug company in a deal that could be finalized as early as Monday.

A takeover would likely be worth well more than $20 billion, making it the largest healthcare deal of the year, as Horizon shares have surged after news emerged last month that Amgen, Sanofi SA and Johnson & Johnson were circling the Dublin-based company.

Sanofi and J&J have since bowed out of the bidding.

Horizon shares closed Friday $97.29, giving the company a market capitalization topping $22 billion. In premarket trading Monday, the stock was recently up more than 12% to $109.40.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

December 12, 2022 06:11 ET (11:11 GMT)

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