The key asset in the transaction was Tepezza, the first drug for thyroid eye disease (TED) approved by the U.S. Amgen recently completed the acquisition of Horizon Therapeutics, a biotech focused on rare diseases, for about $28 billion in cash. However, there's good news for the company. In the third quarter, Amgen's revenue of $6.9 billion grew by almost 4% year over year, which is on the upper side of what it's recorded in the past year and a half. Many of its older medicines are facing competition, generic or otherwise, while newer ones aren't yet contributing enough. Amgen, a leading biotech giant, has been having trouble growing its revenue.
