Horizon Therapeutics Public Ltd Co is a biopharmaceutical company focused on researching, developing, and commercializing medicines that address critical needs for people impacted by rare and rheumatic diseases. Horizon primarily markets products in the United States, which represented 97% of Horizon's 2019 worldwide sales. In 2014 Horizon executed a

tax inversion A tax inversion or corporate tax inversion is a form of tax avoidance where a corporation restructures so that the current parent is replaced by a foreign parent, and the original parent company becomes a subsidiary of the foreign parent, thus mov ...

to move its legal headquarters to Ireland to avail of Ireland's low tax rates and beneficial corporate tax system. On May 2, 2019, shareholders of the company approved the change of the company's name to Horizon Therapeutics plc. Horizon's drug portfolio is focused on treatments for thyroid eye disease (TED),

gout Gout ( ) is a form of inflammatory arthritis characterized by recurrent attacks of a red, tender, hot and swollen joint, caused by deposition of monosodium urate monohydrate crystals. Pain typically comes on rapidly, reaching maximal intensit ...

rare diseases A rare disease is any disease that affects a small percentage of the population. In some parts of the world, an orphan disease is a rare disease whose rarity means there is a lack of a market large enough to gain support and resources for discove ...

, and inflammatory diseases. Horizon's portfolio includes Tepezza (

teprotumumab Teprotumumab, sold under the brand name Tepezza, is a medication used to treat adults with thyroid eye disease, a rare condition where the muscles and fatty tissues behind the eye become inflamed, causing the eyes to bulge outwards. The most ...

), Krystexxa (

pegloticase Pegloticase (trade name Krystexxa) is a medication for the treatment of severe, treatment-refractory, chronic gout. It is a third line treatment in those in whom other treatments are not tolerated. The drug is administered by infusion intravenously ...

), Actimmune (

interferon gamma Interferon gamma (IFN-γ) is a dimerized soluble cytokine that is the only member of the type II class of interferons. The existence of this interferon, which early in its history was known as immune interferon, was described by E. F. Wheelock ...

Duexis Ibuprofen/famotidine, sold under the brand name Duexis, is a fixed-dose combination medication used for the treatment of rheumatoid arthritis and osteoarthritis. It contains ibuprofen, a nonsteroidal anti-inflammatory drug (NSAID) and famotid ...

(ibuprofen + famotidine), Pennsaid (diclofenac, 2% topical), Rayos/Lodotra (

prednisone Prednisone is a glucocorticoid medication mostly used to immunosuppressive drug, suppress the immune system and decrease inflammation in conditions such as asthma, COPD, and rheumatologic diseases. It is also used to treat high blood calcium ...

), Vimovo (

naproxen Naproxen is a nonsteroidal anti-inflammatory drug (NSAID) used to treat pain, menstrual cramps, inflammatory diseases such as rheumatoid arthritis, gout and fever. It is taken orally. It is available in immediate and delayed release formulati ...

/ esomeprazole magnesium), Buphenyl (

sodium phenylbutyrate Sodium phenylbutyrate, sold under the brand name Buphenyl among others, is a salt of an aromatic fatty acid, 4-phenylbutyrate (4-PBA) or 4-phenylbutyric acid. The compound is used to treat urea cycle disorders, because its metabolites offer an ...

), Procysbi (

cysteamine bitartrate Cysteamine is a chemical compound that can be biosynthesized in mammals, including humans, by the degradation of coenzyme A. The intermediate pantetheine is broken down into cysteamine and pantothenic acid. It is the biosynthetic precursor to ...

), and Ravicti (

glycerol phenylbutyrate Glycerol phenylbutyrate (USAN), trade name Ravicti, is a medication used in the treatment of certain inborn urea cycle disorders. The medication works by preventing the harmful buildup of ammonia in the body. It is an FDA-approved prescription dr ...

). In 2016, the company became a member of the

Pharmaceutical Research and Manufacturers of America Pharmaceutical Research and Manufacturers of America (PhRMA, pronounced ), formerly known as the Pharmaceutical Manufacturers Association, is a trade group representing companies in the pharmaceutical industry in the United States. Founded in 195 ...

(PhRMA). In December 2022, the company announced it would be acquired by

Amgen Amgen Inc. (formerly Applied Molecular Genetics Inc.) is an American multinational biopharmaceutical Corporation, company headquartered in Thousand Oaks, California. One of the world's largest independent biotechnology companies, Amgen was esta ...

for $27.8 billion.

Business

The company's lead product base includes Krystexxa, Duexis and Rayos. Outside the United States, Rayos is also known as Lodotra. The company has cooperated with

American Gastroenterological Association The American Gastroenterological Association (AGA) is a medical association of gastroenterologists. Approximately 16,000 scientists and physicians are members of the organization. Overview The American Gastroenterological Association is a prof ...

(AGA) Institute to launch a program named "Connect to Protect" which aims to help physicians and patients better understand non-steroidal anti-inflammatory drug (NSAID) risks. The program is planned to promote communications between physicians and patients about NSAIDs and gastrointestinal ulcers.

History

In March 2014, the company executed a

corporate tax inversion A tax inversion or corporate tax inversion is a form of tax avoidance where a corporation restructures so that the current parent is replaced by a foreign parent, and the original parent company becomes a subsidiary of the foreign parent, thus mov ...

to Ireland by acquiring Irish–based Vidara Therapeutics International for $660 million. While Horizon's main operations and sales remained in the U.S., Horizon moved their "legal" headquarters to Ireland to avoid U.S. taxes. In July 2015, the ''

Wall Street Journal ''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...

'' noted that Horizon were using their lower Irish corporate tax rate to acquire further U.S.–based life sciences firms (i.e. Horizon could afford to pay more). In October 2014, the company acquired the U.S. sales and marketing rights to the

osteoarthritis Osteoarthritis (OA) is a type of degenerative joint disease that results from breakdown of joint cartilage and underlying bone which affects 1 in 7 adults in the United States. It is believed to be the fourth leading cause of disability in the w ...

drug Pennsaid from Nuvo Research for $45 million. In March 2015, the company acquired Hyperion Therapeutics for $1.1 billion, increasing Horizon's orphan disease drug portfolio. In December, the company acquire Crealta Holdings for $510 million. In September 2016, the company announced the acquisition of

Raptor Pharmaceutical Raptor or RAPTOR may refer to: Animals The word "raptor" refers to several groups of bird-like dinosaurs which primarily capture and subdue/kill prey with their talons. * Raptor (bird) or bird of prey, a bird that primarily hunts and feeds on ...

for $800 million, adding Procysbi and Quinsair to its rare drug portfolio. In 2017, Horizon announced its intention to acquire River Vision Development Corp for $145 million, and continue the development of

. In January 2020 - after showing very strong PhIII data - it was approved for the treatment of

thyroid eye disease Graves’ ophthalmopathy, also known as thyroid eye disease (TED), is an autoimmune inflammatory disorder of the orbit and periorbital tissues, characterized by upper eyelid retraction, lid lag, swelling, redness (erythema), conjunctivitis, and b ...

(TED), a rare, vision-threatening disease that previously had no FDA-approved treatment options. Horizon believes it can reach $1bn peak-sales in US alone. In February 2021, the business announced it would acquire Viela Bio Inc for around $3 billion ($53 per share). In early 2022, the company signed a lease on a large research and development facility in

Rockville, Maryland Rockville is a city that serves as the county seat of Montgomery County, Maryland, and is part of the Baltimore–Washington metropolitan area. The 2020 census tabulated Rockville's population at 67,117, making it the fifth-largest community in ...

Acquisition by Amgen

In December 2022, the company announced it would be acquired by

for $27.8 billion ($116.50 in cash for each Horizon share, a 20% premium). The company was reportedly the center of a

bidding war A bid price is the highest price that a buyer (i.e., bidder) is willing to pay for some goods. It is usually referred to simply as the "bid". In bid and ask, the bid price stands in contrast to the ask price or "offer", and the difference between ...

between Amgen,

Johnson & Johnson Johnson & Johnson (J&J) is an American multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer packaged goods. Its common stock is a component of the Dow Jones Industrial Average and the company i ...

and

Sanofi Sanofi S.A. is a French multinational pharmaceutical and healthcare company headquartered in Paris, France. Originally, the corporation was established in 1973 and merged with Synthélabo in 1999 to form Sanofi-Synthélabo. In 2004, Sanofi-Syn ...

References

External links

* {{authority control Pharmaceutical companies of Ireland Companies listed on the Nasdaq Manufacturing companies based in Dublin (city) Tax inversions Pharmaceutical companies established in 2005 Announced mergers and acquisitions

Business

History

Acquisition by Amgen

See also

References

External links