Horizon Therapeutics Plc - HZNP STOCK NEWS

Horizon Therapeutics (HZNP) has announced a definitive agreement to acquire Viela Bio (VIE) for $53.00 per share, totaling approximately $3.05 billion. The acquisition, aimed at expanding Horizon's pipeline and enhancing long-term growth, is expected to close by the end of Q1 2021. Horizon plans to finance the acquisition through $1.3 billion in external debt and cash reserves. The deal adds Viela's FDA-approved UPLIZNA and its mid-stage biologics pipeline, significantly strengthening Horizon's position in the autoimmune and severe inflammatory disease market.

Horizon Therapeutics (Nasdaq: HZNP) reported a record year in 2020, with net sales surpassing $2.14 billion, reflecting over 65% growth year-over-year. Adjusted EBITDA exceeded $940 million, representing a 95% increase. The growth was primarily driven by strong sales of TEPEZZA and KRYSTEXXA, with TEPEZZA alone generating over $800 million. However, a short-term disruption in TEPEZZA supply is expected due to COVID-19 vaccine production orders affecting manufacturing capacity. Horizon plans to submit data on increased scale manufacturing to the FDA soon.

Horizon Therapeutics plc (Nasdaq: HZNP) announced a temporary disruption in the supply of TEPEZZA due to government-mandated COVID-19 vaccine production orders affecting its contract manufacturer, Catalent. This disruption is anticipated to start at the end of December and extend into the first quarter of 2021. Despite this, Horizon expects to maintain its full-year 2020 TEPEZZA sales guidance of over $800 million. The company plans to accelerate production and has delayed clinical trials until at least Q2 2021, contingent on supply normalization.

Horizon Therapeutics (Nasdaq: HZNP) announced a $1.2 million contribution to COVID-19 relief, aiding U.S. and international organizations. This funding supports critical initiatives, such as educational resources and financial relief for those affected by rare and rheumatic diseases. Previously, the company invested over $1 million in advocacy organizations for similar COVID-19 initiatives. Horizon's CEO emphasized the company's commitment to support organizations vital to community recovery during these challenging times.

Horizon Therapeutics (Nasdaq: HZNP) will participate in three upcoming conferences in December 2020. The events include the Evercore ISI HealthCONx Conference on December 2 at 9:15 a.m. ET, the Piper Sandler 32nd Annual Virtual Healthcare Conference on the same day at 1:30 p.m. ET, and the BMO 2020 Growth & ESG Conference on December 8 at 1:00 p.m. ET. All presentations will be webcast live on Horizon's website, and replays will be available afterward.

Horizon focuses on developing medicines for rare and rheumatic diseases, aligning science with compassion.

Horizon Therapeutics (Nasdaq: HZNP) has entered a global collaboration with Halozyme Therapeutics (Nasdaq: HALO) to utilize Halozyme's ENHANZE^® drug delivery technology for a subcutaneous formulation of TEPEZZA, aimed at treating Thyroid Eye Disease. The deal includes an upfront payment of $30 million and potential future payments up to $160 million based on developmental milestones. This agreement marks Horizon's intent to enhance patient experience by shortening drug administration time and providing more convenience.

Horizon Therapeutics has initiated the first-ever Thyroid Eye Disease (TED) Awareness Week from Nov. 16 to Nov. 20, in collaboration with several advocacy organizations. This campaign aims to heighten awareness of TED, a rare autoimmune disease that affects vision. As part of the initiative, Horizon is launching TED Today, a daily online talk show featuring insights from TED patients and specialists. The show aims to educate the community on managing TED and accessing support resources. This awareness week marks a significant commitment by Horizon to advocate for those affected by TED.

Today marks the inaugural Thyroid Eye Disease (TED) Awareness Week, running from Nov. 16 to 20, initiated by Horizon Therapeutics in partnership with various advocacy organizations. This initiative aims to enhance understanding of TED, a significant autoimmune condition that affects vision. Activities include the launch of TED Today, an online show aimed at educating patients and caregivers. Symptoms of TED include redness, swelling, and double vision. This event seeks to empower patients and foster community support for those impacted by this debilitating disease.