Horizon Therapeutics plc is an Irish–tax registered pharmaceutical company that acquires, rebrands, repackages, and reprices specialist drugs for sale into the U.S. healthcare system, which represented 97% of Horizon's 2019 worldwide sales. In 2014 Horizon executed a tax inversion 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 arthritis, pain and inflammatory diseases. Horizon's portfolio includes Krystexxa, Actimmune, Duexis, Pennsaid, and Rayos/Lodotra. In 2016, the company became a member of the Pharmaceutical Research and Manufacturers of America.
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 Institute to launch a program named "Connect to Protect" which aims to help physicians and patients better understand non-steroidal anti-inflammatory drug risks. The program is planned to promote communications between physicians and patients about NSAIDs and gastrointestinal ulcers. In March 2014, the company executed a corporate tax inversion 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 noted that Horizon were using their lower Irish corporate tax rate to acquire further U.S.–based life sciences firms. In October 2014, the company acquired the U.S. sales and marketing rights to the osteoarthritis 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 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 teprotumumab. In January 2020 - after showing very strong PhIII data - is was approved for the treatment of thyroid eye disease, a rare, vision-threatening disease that previously had no FDA-approved treatment options. Horizon believes it can reach $1bn peak-sales in US alone.
