Horizon Pharma (HZNP) Tops Q1 EPS by 18c, Revenues Beat; Raises FY19 Revenue Guidance Above Consensus

Horizon Pharma (NASDAQ: HZNP) reported Q1 EPS of $0.30, $0.18 better than the analyst estimate of $0.12. Revenue for the quarter came in at $280.4 million versus the consensus estimate of $238.35 million.

“We are off to a strong start this year, achieving double-digit net sales growth in the first quarter and raising our full-year outlook, indicative of our continued strong commercial execution,” said Timothy P. Walbert, chairman, president and chief executive officer, Horizon. “In addition, during the quarter we announced dramatic teprotumumab Phase 3 trial results that support a mid-year U.S. regulatory submission, a key milestone in our evolution to a development-focused rare disease biopharma company. We are one step closer to delivering the first FDA-approved treatment to people living with active thyroid eye disease.”

Walbert continued, “Last week our shareholders approved changing the name of the Company to Horizon Therapeutics plc. Our new name more clearly reflects both our long-term strategy to develop and commercialize innovative new medicines addressing rare diseases with very few effective options as well as the fact that our work with patients, caregivers, physicians and communities goes well beyond our medicines.”

GUIDANCE:

Horizon Pharma sees FY2019 revenue of $1.26-1.28 billion, versus the consensus of $1.24 billion.

For earnings history and earnings-related data on Horizon Pharma (HZNP) click here.

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