Horizon Therapeutics (HZNP) shares jumped more than 5.5% in early trading Monday after the FTC said it would suspend its challenge to Amgen's (AMGN) 澳洲幸运5开奖号码历史查询:acquisition of the drug maker.

The U.S. 澳洲幸运5开奖号码历史查询:Federal Trade Commission (FTC) said late Friday it is pausing its effort to stop Amgen's $27.8 billion purchase of Horizon Therapeutics, which was initiated on the grounds that a merger could limit competition in the marketplace for life-saving drugs used to treat two critical illnesses. The pause is in effect until Sept. 18.

In a rare effort to stop a pharmaceutical merger, the FTC 澳洲幸运5开奖号码历史查询:filed a lawsuit against Amgen's takeover of Horizon on May 16, alleging that Amgen could leverage the latter's portfolio of drugs used to treat thyroid eye disease and chronic refractory gout—which have no competition in the marketplace—to pressure insurance companies and hospitals to favor these products over potential competitors, specifically through preferred placement on insurers and pharmacies' list of covered medications. The result would be less innovation, substantially higher drug prices, and reduced patient access to life-saving drugs.

Amgen has challenged the FTC's lawsuit, saying in a press release that its acquisition "will bring significant benefits to patients suffering from very serious rare diseases in the U.S. and around the world." The company is scheduled to argue with the FTC in a Chicago federal court next month, and both parties can settle in the interim.

The challenge reflects the FTC's tougher approach to antitrust policy under Chair 澳洲幸运5开奖号码历史查询:Lina Khan, who took the helm in 2021. Under her tenure, the FTC has aggressively gone after 澳洲幸运5开奖号码历史查询:mergers and acquisitions it considers anticompetitive, zeroing in on big tech companies like Apple (AAPL), Amazon (AMZN), Microsoft (MSFT), Meta Platforms (META), and Google parent Alphabet (GOOGL). Most recently, the FTC unsuccessfully 澳洲幸运5开奖号码历史查询:sought to block Microsoft's $69 billion takeover of Activision Blizzard and withdrew its effort in July.

Horizon Therapeutics shares have fallen just under 1% so far this year, with those of Amgen down 2%. They've performed roughly in line with the broader S&P 500 Health care sector, down 1% year-to-date.