Mission Statement, Vision, & Core Values (2024) of Horizon Therapeutics Public Limited Company (HZNP).

An Overview of Horizon Therapeutics Public Limited Company (HZNP)

General Summary of Horizon Therapeutics Public Limited Company (HZNP)

Horizon Therapeutics Public Limited Company (HZNP) is a biotechnology company focused on developing and commercializing innovative medicines for rare, autoimmune, and severe inflammatory diseases. Founded in 2010, Horizon has rapidly expanded its portfolio through strategic acquisitions and product development. As of 2024, the company offers several key products, including TEPEZZA, KRYSTEXXA, UPLIZNA, and RAVICTI, which address critical medical needs.

As of 2024, Horizon Therapeutics reported net sales of approximately $1.8 billion, reflecting a slight increase from $1.78 billion in 2023. The company has focused on enhancing its product offerings and expanding its market presence, particularly in the areas of rare diseases and autoimmune disorders.

Company's Financial Performance in the Latest Financial Reports

In the most recent financial report for the six months ended June 30, 2023, Horizon Therapeutics achieved net sales of $1.777 billion, representing a 1% increase compared to the $1.762 billion reported during the same period in 2022. The growth was largely driven by significant sales increases in key products:

The increase in overall sales can be attributed to a strong performance from KRYSTEXXA and UPLIZNA, which saw significant growth due to increased market penetration and enhanced product awareness. However, TEPEZZA and PENNSAID 2% experienced declines, influenced by market competition and changing treatment paradigms.

Operating income for the six months ended June 30, 2023, was reported at $178.8 million, down from $282.9 million in 2022, reflecting a decrease of 37%. The decline in operating income was largely due to increased operating expenses, which rose by 13% to $1.17 billion, driven by higher research and development costs.

Introduction to Horizon Therapeutics as a Leader in the Industry

Horizon Therapeutics has established itself as a leader in the biotechnology industry, particularly in the field of rare and autoimmune diseases. The company's commitment to innovation and patient-centric solutions has positioned it favorably within a competitive landscape. Horizon's strategic focus on expanding its product pipeline and enhancing its therapeutic offerings has garnered attention from investors and healthcare providers alike.

To gain a deeper understanding of Horizon's success, including its recent initiatives and product developments, readers are encouraged to explore the detailed insights provided below.

Mission Statement of Horizon Therapeutics Public Limited Company (HZNP)

Mission Statement of Horizon Therapeutics Public Limited Company (HZNP)

Horizon Therapeutics Public Limited Company (HZNP) is dedicated to addressing critical needs for individuals impacted by rare and autoimmune diseases. Their mission statement emphasizes a commitment to delivering innovative medicines that improve patient outcomes and enhance quality of life.

Core Component 1: Patient-Centric Focus

The first core component of Horizon's mission centers around a strong patient-centric focus. This involves understanding the unique challenges faced by patients with rare and severe diseases and tailoring solutions to meet their specific needs. For example, Horizon's product, TEPEZZA, is designed for patients suffering from thyroid eye disease, addressing a critical gap in treatment options. In 2023, TEPEZZA net sales totaled approximately $850.8 million, showcasing its significant impact on patient care.

Core Component 2: Innovation in Medicine

The second core component is innovation in medicine. Horizon is committed to investing in research and development to bring forward new therapies that can transform patient care. As of June 30, 2023, Horizon's research and development expenses reached $284.2 million, reflecting a 37.7% increase from the previous year. This investment underscores their dedication to advancing medical science and developing new treatments.

Core Component 3: Commitment to Quality

The third core component is a commitment to quality in all aspects of their operations, from clinical trials to manufacturing processes. Horizon adheres to stringent regulatory standards and strives for excellence in product delivery. For instance, their manufacturing partner, AGC Biologics, has a commitment of €89.3 million ($97.4 million) for TEPEZZA drug substance production, ensuring high-quality supply to meet increasing demand.

Vision Statement of Horizon Therapeutics Public Limited Company (HZNP)

Vision Statement Overview

The vision statement of Horizon Therapeutics Public Limited Company (HZNP) as of 2024 emphasizes its commitment to addressing critical needs in the healthcare sector, particularly for patients suffering from rare, autoimmune, and severe inflammatory diseases. The company aspires to be a leader in biotechnology, leveraging scientific expertise to develop meaningful therapies.

Commitment to Patient Care

Horizon Therapeutics is dedicated to improving patient outcomes through innovative treatments. This commitment is reflected in their focus on understanding and addressing the unique needs of patients affected by rare diseases. The company’s pipeline includes several promising therapies aimed at providing relief and improving the quality of life for these patients.

Scientific Innovation

Horizon Therapeutics places a strong emphasis on scientific innovation as a core component of its vision. The company is actively involved in research and development, with significant investments aimed at advancing its pipeline of therapies. As of June 30, 2023, Horizon reported a research and development expense of $284.2 million for the six months ended.

Global Reach and Accessibility

The vision includes a global approach to healthcare, ensuring that innovative therapies are accessible to patients around the world. Horizon Therapeutics aims to expand its market presence and enhance patient access to its medicines. As of the same reporting period, the total net sales of Horizon Therapeutics were approximately $1.8 billion.

Partnerships and Collaborations

Horizon Therapeutics recognizes the importance of strategic partnerships in achieving its vision. Collaborations with other biotechnology firms and research institutions are integral to its growth strategy. The company has entered various agreements, including a significant transaction with Amgen, which is expected to enhance its capabilities and resources.

Focus on Rare Diseases

Horizon Therapeutics is particularly focused on rare diseases, which often lack adequate treatment options. The company aims to develop and commercialize therapies that can significantly impact the lives of patients with these conditions. Their flagship products, such as TEPEZZA, demonstrate this commitment, with net sales of approximately $851 million for the six months ended June 30, 2023.

Future Growth and Sustainability

The vision of Horizon Therapeutics also encompasses sustainable growth through continuous innovation and operational excellence. The company aims to enhance its manufacturing capabilities and expand its therapeutic offerings, ensuring long-term viability in the competitive biotechnology sector. As of June 30, 2023, Horizon had total assets amounting to approximately $9.3 billion.

Core Values of Horizon Therapeutics Public Limited Company (HZNP)

Integrity

The core value of Integrity at Horizon Therapeutics emphasizes the importance of ethical conduct and honesty in all actions. This commitment is crucial for maintaining trust with patients, partners, and employees.

In 2023, Horizon implemented rigorous compliance training programs for its employees, ensuring that all staff are aware of ethical standards and regulatory requirements. The company also established a confidential reporting system for employees to report unethical behavior without fear of retaliation. As of June 30, 2023, Horizon reported zero incidents of non-compliance with regulations, showcasing its commitment to integrity.

Innovation

Innovation is a cornerstone of Horizon's mission to develop cutting-edge therapies for rare and autoimmune diseases. The company invests significantly in research and development to bring new medicines to market.

For instance, Horizon's investment in its R&D efforts reached $212 million for the first half of 2023, reflecting a 10% increase from the previous year. This funding supports ongoing clinical trials for its pipeline products, including TEPEZZA and UPLIZNA, which are crucial for addressing unmet medical needs.

Patient-Centricity

Patient-Centricity drives Horizon to prioritize the needs and experiences of patients in all aspects of its business. This value is evident in the company's initiatives aimed at enhancing patient access to its medications.

In 2023, Horizon launched a new patient assistance program that provided over $15 million in financial support to patients struggling to afford their medications. Additionally, the company reported a 30% increase in patient enrollment in its support programs, reflecting its commitment to improving patient outcomes and access.

Collaboration

The value of Collaboration highlights Horizon's belief in the power of teamwork and partnerships to achieve common goals. This is evident in its strategic partnerships with other biopharmaceutical companies and academic institutions.

As of mid-2023, Horizon has entered into multiple collaborations, including a significant partnership with Arrowhead Pharmaceuticals, which involved an upfront payment of $40 million and potential future milestone payments of up to $660 million. These collaborations aim to expedite the development of innovative treatments and broaden the company's therapeutic offerings.

Accountability

Accountability is fundamental to Horizon's operational ethos, ensuring that the company takes responsibility for its actions and decisions. This is reflected in the company’s governance practices and performance metrics.

In 2023, Horizon established clear performance targets for its executives tied to the company’s strategic goals, linking compensation to the achievement of these objectives. The company reported a 12% increase in overall employee satisfaction scores, indicating successful implementation of accountability measures.