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In 1968 Shirley Chisholm became the first Black woman elected to the United States Congress. In 1972 she launched a campaign for the Democratic presidential nomination, breaking another political barrier.
MORE →Reflects the personal views, recollections, and perspective of the author, Mike Davis.
This is a personal recollection on the Move fire on May 13, 1985
| Horizon Therapeutics plc | |
|---|---|
 | |
| Formerly | Horizon Pharma plc |
| Type | Subsidiary |
| Nasdaq: HZNP | |
| Industry | Pharmaceutical |
| Founded | 2005[1] |
| Headquarters |
|
| Key people | Timothy P. Walbert (chairman, president & CEO) Paul W. Hoelscher (CFO) |
| Revenue |  US$3.63 billion (2022) |
| US$617 million (2022) | |
 US$521 million (2022) | |
| Total assets | US$9.11 billion (2022) |
| Total equity | US$5.07 billion (2022) |
Number of employees | 2,115 (2022) |
| Parent | Amgen |
| Website | horizontherapeutics |
| Footnotes [2] | |
Horizon Therapeutics plc was a biopharmaceutical company focused on researching, developing, and commercializing medicines that address critical needs for people impacted by rare and rheumatic diseases.[3] Horizon primarily markets products in the United States, which represented 97% of Horizon's 2019 worldwide sales.[4] Amgen acquired the company in October 2023.[5]
Horizon Therapeutics was founded in 2005 in Illinois focused on the development of Duexa, a formulation of ibuprofen combined with famotidine. Nitec Pharma AG was founded in Switzerland in 2004 as a spin-off from Merck KGaA.[6] In 2010, Horizon and Nitec merged to form a combined company Horizon Pharma Inc. to be led by Timothy Walbert to support the launch of Lodotra and Duexa.[7] Horizon IPOed in 2011 raising $49.5 million.[8][9][10]
In 2014, Horizon executed a tax inversion to move its legal headquarters to Ireland to avail itself of Ireland's low tax rates and beneficial corporate tax system.[11][12]
In October 2014, the company acquired the US sales and marketing rights to the osteoarthritis drug Pennsaid from Nuvo Research for $45 million.[13] In March 2015, the company acquired Hyperion Therapeutics for $1.1 billion, increasing Horizon's orphan disease drug portfolio.[14] In December, the company acquired Crealta Holdings for $510 million.[15] In September 2016, the company announced the acquisition of Raptor Pharmaceutical for $800 million, adding Procysbi and Quinsair to its rare drug portfolio.[16] In 2017, Horizon announced its intention to acquire River Vision Development Corp for $145 million and to continue the development of teprotumumab.[17]
On May 2, 2019, shareholders of the company approved the change of the company's name from Horizon Pharma plc to Horizon Therapeutics plc.[18] In January 2020 – after showing very strong PhIII data – it was approved for the treatment of thyroid eye disease (TED), a rare vision-threatening disease that previously had no FDA-approved treatment options.[19] Horizon believed it could reach $1 billion peak sales in the US alone.
In February 2021, the business announced it would acquire Viela Bio Inc for around $3 billion ($53 per share).[20][21]
In December 2022, the company announced it would be acquired by Amgen for $27.8 billion ($116.50 in cash for each Horizon share, a 20% premium).[22] The company was reportedly the center of a bidding war between Amgen, Johnson & Johnson and Sanofi.[23] In May 2023, the Federal Trade Commission said it would sue to block the deal in an attempt to control drug prices.[22][24][25] The acquisition was completed in October 2023 after mutually resolving the litigation.[5]
| Region | Sales ($ m) | Distribution (%) |
|---|---|---|
| U.S. | 1,026.527 | 97 |
| Rest of World | 29.704 | 3 |
| Total | 1,056.231 | 100 |
The company has cooperated with American Gastroenterological Association (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.[26]
In 2016, the company became a member of the Pharmaceutical Research and Manufacturers of America (PhRMA).[27]
In March 2014, the company executed a corporate tax inversion to Ireland by acquiring Irish–based Vidara Therapeutics International for $660 million.[28] While Horizon's main operations and sales remained in the U.S., Horizon moved their "legal" headquarters to Ireland to avoid U.S. taxes.[29] In July 2015, the Wall Street Journal 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).[30]
In early 2022, the company signed a lease on a large research and development facility in Rockville, Maryland.
It is also expanding its development and manufacturing facility in Waterford (Ireland) for the production of rare disease biologics and drugs still in development.[31]
Horizon's drug portfolio is focused on treatments for thyroid eye disease (TED), gout, rare diseases, and inflammatory diseases.[32] Horizon's portfolio includes Tepezza[23] (teprotumumab), Krystexxa (pegloticase), Actimmune (interferon gamma), Duexis (ibuprofen + famotidine), Pennsaid (diclofenac, 2% topical), Rayos/Lodotra (prednisone), Vimovo (naproxen/esomeprazole magnesium), Buphenyl (sodium phenylbutyrate), Procysbi (cysteamine bitartrate), and Ravicti (glycerol phenylbutyrate).[32]
The company's lead product base includes Krystexxa, Duexis and Rayos. Outside the United States, Rayos is also known as Lodotra.[33]
Results of Operations: Net Sales
Bloomberg Special Reports: Corporate Tax Inversions
Horizon Pharma Inc (NDAQ:HZNP) agreed to acquire Vidara Therapeutics Inc. in a cash-and-stock deal valued at about $660 million, as the specialty pharmaceutical company sought to expand its range of products. As part of the merger, the combined company will be named Horizon Pharma PLC and will be organized under the laws of Ireland. Horizon's current shareholders will own 74% of the merged company, and Vidara's shareholders will own about 26% of the company and receive $200 million in cash.
Horizon and other inverted companies are using their new, lower tax rates to turbocharge corporate takeovers. Applying those rates, often in the midteens, to profits of companies in the U.S., with a federal corporate rate of 35%, can yield extra savings on top of those traditionally wrung from mergers. Moreover, unlike the U.S., Ireland and most other countries, only tax profits earned in-country, giving companies the freedom and incentive to shift income to still-lower-tax jurisdictions.
Source: Wikipedia. Article content is retrieved live through the MediaWiki API.
Horizon Therapeutics plc was 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. Amgen acquired the company in October 2023.
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 effective or are not tolerated. The drug is administered by infusion intravenously. Since October 2023, Amgen Inc. has been the marketer of pegloticase in the U.S. It was developed by Savient Pharmaceuticals. It was approved in the United States in 2010, after two clinical trials found it lowered uric acid levels and reduced deposits of uric acid crystals in joints and soft tissue. The European Medicines Agency (EMA) granted marketing authorization in 2013 for treatment of disabling tophaceous gout. In 2016 this authorization was ended at the request of Horizon Therapeutics PLC in Europe.
Teprotumumab, sold under the brand name Tepezza, is a medication used to treat thyroid eye disease (Graves' eye disease), a rare condition where the muscles and fatty tissues behind the eye become inflamed, causing the eyes to bulge outwards. It is a human monoclonal antibody developed by Genmab and Roche for tumor treatment but was later developed by River Vision Development Corporation and Horizon Therapeutics to be used for ophthalmic uses. It binds to IGF-1R. The most common side effects are muscle spasm, nausea, hair loss, diarrhea, fatigue, high blood sugar, hearing loss, dry skin, altered sense of taste, and headache. Teprotumumab should not be used if pregnant. Teprotumumab was approved for medical use in the United States in January 2020. The US Food and Drug Administration (FDA) considers it to be a first-in-class medication.
Brand Institute is a branding agency that specializes in the development of brand names and identities. The company's primary services include creative name development, trademark screening, market research, regulatory affairs, linguistic analysis, and graphic design (e.g., logos and websites). It is best known for pharmaceutical naming, partnering with manufacturers on approximately 75% of drug names approved every year. Its first drug naming project was with Wyeth on the anti-obesity drug Redux. Brand Institute was founded in 1993 by James (Jim) L. Dettore. Prior to forming Brand Institute, he worked for the multinational corporations PepsiCo, Hilton International Hotels and Ralph Lauren, the advertising agency J. Walter Thompson and the brand consultancy Interbrand. In 2004, the company formed the subsidiary, Drug Safety Institute (DSI), which consults the company's pharmaceutical clients on best practices in drug product naming, packaging, and labeling. Jerry Phillips, the former director of the FDA's Division of Medication Errors and Technical Support (DMETS), and whose responsibilities included approving proprietary drug names while with the FDA, was hired as DSI's president and chief executive officer. Brand Institute's clients include consumer and business-to-business companies such as AT&T and General Motors, and healthcare companies such as Biogen, Allergan, Johnson & Johnson, Novartis, CSL Behring, Amgen, BeiGene, Avexis, BioMarin, and Horizon Therapeutics. It has named brands such as Lipitor, Clarinex, Sarafem, Allegra, Propecia, Relenza, Climara, Proscar, Invega, Lunesta, Latisse, Entresto, Tremfya, Brineura, Privigen, Zykadia, Tecfidera, Brukinsa, Zolgensma, Xpovio, and Qwo. Brand Institute notably created and validated the brand name for Pfizer and BioNTech's COVID-19 vaccine, Comirnaty, and its nonproprietary name, tozinameran. Comirnaty was the first COVID-19 vaccine brand name approved by any regulatory agency in the world. Brand Institute also developed the COVID-19 vaccine brand names Spikevax (Moderna), Vaxzevria (AstraZeneca), and Nuvaxovid (Novavax). Other brands that Brand Institute claims to have worked on include Frappuccino for Starbucks, Britney Spears' Fantasy Twist, BMW's IconicSounds technology, the Fruit of The Loom corporate identity, Coolsculpting, the Lenovo ThinkPad, beverage brands Aquafina, Mountain Dew Baja Blast and Code Red, and Propel water. Other claims include, the movie X-Men Days of Future Past, Bounty, Charmin Basic, Crest Complete, Charmin Ultra Soft, a variety of pet foods, and Colgate lines of toothpaste. Office Locations
Before the 1921 destruction of Tulsa’s Greenwood District, Black residents had created a remarkable center of business and community life. The district included stores, professional offices, entertainment venues and homes owned by Black citizens. Understanding Greenwood means learning what was built—not only what was burned.
MORE →Joe Louis.
