Please ensure Javascript is enabled for purposes of website accessibility

Horizon Therapeutics Gets FDA Approval for Eye Drug

By Taylor Carmichael - Jan 23, 2020 at 9:50AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

First FDA-approved medicine for thyroid eye disease.

After market close on Tuesday, Irish drug company Horizon Therapeutics (HZNP 2.68%) received a nice surprise from the Food and Drug Administration (FDA). The company's drug Tepezza was approved earlier than expected. This is the first therapy that will hit the market for thyroid eye disease (TED), a rare condition caused by an autoimmune disorder. 

TED, which is sometimes referred to as Graves' Eye Disease, can range from mild to severe. It's marked by an inflammation in the eye muscles, eyelids, tear glands and fatty tissues of the eye, which causes them to become red, swollen, and uncomfortable.  Approximately one million Americans are diagnosed with the condition each year, with women five times more likely to suffer from it than men. 

inflammation of eye

Image source: Getty Images

Horizon's stock has barely moved this week, despite the good news from the FDA.  However, the pharmaceutical stock has already had a significant run-up throughout 2019, jumping up about 75% over the last year.  The Irish drug company has a $7 billion market cap, and has a significant number of drugs that have had FDA approval (Tepezza will be number ten).  

"Today is a great day for people living with Thyroid Eye Disease, a rare, vision-threatening disease that previously had no FDA-approved treatment options," said Timothy Walbert, chairman, president and chief executive officer of Horizon.

This FDA approval was the company's first approval based on a Biologics License Application. Walbert said the BLA is "a key step in our evolution to an innovation-focused biopharma company, developing new medicines for debilitating diseases with few or no treatment options."

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Horizon Therapeutics Public Limited Company Stock Quote
Horizon Therapeutics Public Limited Company
$85.13 (2.68%) $2.22

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 06/26/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.