(Bloomberg) -- Johnson & Johnson said it doesn’t intend to make an offer for Horizon Therapeutics Plc, days after the developer of medicines for rare autoimmune and inflammatory diseases revealed it was in talks with the company.
Janssen Global Services, J&J’s pharmaceutical division, didn’t provide a reason why it isn’t planning on proceeding with an offer in a statement released Saturday.
Horizon shares surged over the past week after the company said it’s in separate preliminary talks with J&J, Amgen Inc. and Sanofi about a possible sale. Amgen and Sanofi have said that any offer for Horizon would be cash only.
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