Horizon Therapeutics plc Reports First-Quarter 2021 Financial Results; Updating Full-Year 2021 Net Sales Guidance and Full-Year Adjusted EBITDA Guidance to Incorporate Recently Acquired Viela Bio, Inc.

Rhea-AI Summary

Horizon Therapeutics plc (Nasdaq: HZNP) reported its Q1 2021 financial results, updating its full-year net sales and adjusted EBITDA guidance post-acquisition of Viela Bio, Inc. on March 15, 2021. Chairman Tim Walbert emphasized the acquisition enhances their biologics pipeline and research capabilities. Despite challenges from TEPEZZA supply disruptions due to COVID-19 vaccine orders, the company is optimistic about resuming supply and leveraging its expanded pipeline for growth. Financial highlights include significant year-over-year changes, reinforcing their growth trajectory.

Positive

• Acquisition of Viela Bio enhances biologics pipeline and R&D capabilities.
• Resumption of TEPEZZA supply expected to improve sales performance.
• Updated financial guidance reflects strong growth potential post-acquisition.

Negative

• Supply disruptions of TEPEZZA impacted performance in Q1.
• Continued reliance on government regulations affecting supply chain.

Horizon Therapeutics plc (Nasdaq: HZNP) today announced first-quarter 2021 financial results. The Company updated its full-year 2021 net sales guidance and its adjusted EBITDA guidance to incorporate Viela Bio, Inc., which was acquired on March 15, 2021.

“We continued to advance our position as one of the fastest-growing biotechs, completing the milestone acquisition of Viela with its strong biologics pipeline, R&D capabilities and rare disease medicine, UPLIZNA,” said Tim Walbert, chairman, president and chief executive officer, Horizon. “We were very pleased with our performance in a quarter challenged by the supply disruption of TEPEZZA due to U.S. government-mandated COVID-19 vaccine orders. With the resumption of TEPEZZA supply, our expanded pipeline and our strong ability to execute, we are well positioned to continue to drive significant value for our patients, shareholders and all of our stakeholders.”

Financial Highlights

(in millions except for per share amounts and percentages)

Q1 21 (1)

Q1 20

% Change

FAQ

What were Horizon Therapeutics' Q1 2021 financial results?

Horizon reported its Q1 2021 financial results with updates to its full-year net sales guidance.

What is the significance of the Viela Bio acquisition for HZNP?

The acquisition enhances Horizon's biologics pipeline and R&D capabilities, positioning the company for growth.

How did COVID-19 affect Horizon Therapeutics' performance?

Supply disruptions related to TEPEZZA due to COVID-19 vaccine orders challenged Q1 performance.

What is the updated financial guidance for HZNP in 2021?

Horizon updated its full-year 2021 net sales and adjusted EBITDA guidance after acquiring Viela Bio.