I love this website I only discovered a few hours ago. Here’s a story I wasn’t even aware of:

Johnson & Johnson has dropped out of the running to acquire Horizon Therapeutics, leaving Amgen and Sanofi as the two remaining potential buyers of the Dublin-based drugmaker.

As required under Irish takeover law, Horizon last week confirmed it was in “highly preliminary” discussions to possibly sell itself to one of the three companies. Horizon made the disclosure after a Wall Street Journal report on the talks, and cautioned that it may not reach a deal or even receive a bid.

J&J confirmed on Saturday it was bowing out. Meanwhile, Sanofi and Amgen said separately that any offer they make would be in cash.

Just the daily charts of the four symbols named in the headline:

$HZNP daily chart

$JNJ daily chart

$AMGN daily chart

$SNY daily chart

The WSJ story from a week ago which I never saw:

Horizon, which develops medicines for rare and immune diseases, said it is “engaged in highly preliminary discussions with Amgen Inc., AMGN -0.57%decrease; red down pointing triangle [Johnson & Johnson’s] JNJ -1.50%decrease; red down pointing triangle Janssen Global Services, LLC and Sanofi” SA, confirming an earlier Wall Street Journal report on takeover interest.

A deal for Horizon would be big. The company had a market value of almost $18 billion as of the close of trading Tuesday and, with a typical takeover premium, could fetch a price well over $20 billion. The shares rose some 33% after hours on the news.

A friend of mine just had eye surgery. One of the drugs he used beforehand was this one named here. He almost lost his eyesight before the drug regimen and his operation afterward.

Horizon is Nasdaq-listed, but headquartered in Ireland and with operations in Dublin, Deerfield, Ill., and a new facility in Rockville, Md. It develops medicines to treat rare autoimmune and severe inflammatory diseases that are currently sold mostly in the U.S. Its biggest drug, Tepezza, is used to treat thyroid eye disease, an affliction characterized by progressive inflammation and damage to tissues around the eyes.

Last year, revenue from the product more than doubled, driving the company’s overall net sales 47% higher to $3.23 billion. Horizon said this month that annual global net sales of the drug are targeted to eventually peak at more than $4 billion as the company aims to win approval to sell it in Europe and Japan.

**A bit more digging, and I read the reason behind the long bullish candlestick on $SNY chart yesterday. Here’s the news which moved it. Keeping an eye on Big Pharma (Disclosure: I own $MRNA) and now Biotech looking more favorable as well. We’ll get into Biotech later in the week. **