Horizon Pharma (HZNP) Misses Q1 EPS by 2c, Lowers Outlook

Horizon Pharma (NASDAQ: HZNP) reported Q1 EPS of $0.21, $0.02 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $220.9 million versus the consensus estimate of $247.92 million.

Announces Board of Directors’ Authorization of Share Repurchase Program for Approximately 10 Percent of Shares Outstanding.

GUIDANCE:

Horizon Pharma sees FY2017 revenue of $1-1.035 billion, versus prior of from $1.240-1.290 billion and the consensus of $1.26 billion.

The Company revised its full-year 2017 adjusted EBITDA guidance to $315 million to $350 million from $525 million to $575 million, which assumes the lower net sales range and accounts for cost reductions, primarily in its primary care business, and a reinvestment of a portion of these reductions in KRYSTEXXA to maximize its long-term potential. It also reflects an approximate $20 million increase in operating expenses, primarily in R&D, for full-year 2017 related to teprotumumab. The Company is raising its estimate of peak annual net sales for KRYSTEXXA to $400 million from $250 million.

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

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