Horizon Therapeutics in separate sale talks with Amgen, Sanofi and J&J

The biotechnology firm has submitted a planning application for the expansion of its Waterford development and manufacturing facility

Horizon had dropped 27% in this year through Tuesday’s close, valuing the company at $17.8bn (€17.2bn).

Shares in Horizon Therapeutics rose by the most in more than three years after the Irish drug developer disclosed it’s in talks with a trio of potential suitors about a possible sale of the company.

Amgen, Johnson & Johnson and Sanofi are separately engaged in preliminary discussions with Horizon, the company said in a statement on Tuesday. There’s no certainty that any of the talks will lead to an offer. Dublin-based Horizon rose 30% in trading after markets closed in New York.