{"id":56486,"date":"2023-05-03T13:04:24","date_gmt":"2023-05-03T11:04:24","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/horizon-therapeutics-plc-reports-first-quarter-2023-financial-results\/"},"modified":"2023-05-03T13:04:24","modified_gmt":"2023-05-03T11:04:24","slug":"horizon-therapeutics-plc-reports-first-quarter-2023-financial-results","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/horizon-therapeutics-plc-reports-first-quarter-2023-financial-results\/","title":{"rendered":"Horizon Therapeutics plc Reports First-Quarter 2023 Financial Results"},"content":{"rendered":"
\n

\nFirst-Quarter 2023 Results:
\n
<\/span><\/i><\/b>— Net Sales of $832.1 Million <\/i>—
\n
<\/i>— GAAP Net Income of $54.7 Million; Adjusted EBITDA of $<\/i>232.9<\/i> Million —
\n
<\/i>— TEPEZZA\u00ae (teprotumumab-trbw) Net Sales of $405.3 Million <\/i>—
\n
<\/i>— KRYSTEXXA\u00ae (pegloticase injection) Net Sales of $187.0 Million <\/i>—
\n
<\/i>— UPLIZNA\u00ae (inebilizumab-cdon) Net Sales of $53.8 Million —
\n
<\/i>— Cash Position of $2.31 Billion as of March 31, 2023 —
\n
<\/i><\/p>\n

\nFirst-Quarter and Recent Company Highlights:
\n
<\/span><\/i><\/b>— Announced Positive Topline Data from <\/i>TEPEZZA Phase 4 Clinical Trial<\/i><\/a> in Patients with Chronic\/Low Clinical Activity Score (CAS) Thyroid Eye Disease (TED) —
\n
<\/i>— Obtained U.S. FDA Approval for Updated <\/i>TEPEZZA Indication<\/i><\/a> to Specify Treatment of TED Patients Regardless of Disease Activity or Duration —
\n
<\/i>— Announced Positive Topline Data from the Second Population in <\/i>Dazodalibep Sj\u00f6gren\u2019s Syndrome Phase 2 Clinical Trial<\/i><\/a>; First and Only Phase 2 Sj\u00f6gren\u2019s Syndrome Trial to Meet the Primary Endpoint in Both Patient Populations; Phase 3 Clinical Program Expected to Initiate in 2023 <\/i>—
\n
–<\/i>– Announced Initiation of <\/i>TEPEZZA Phase 3 Trial in Japan in <\/i>Chronic\/Low CAS TED<\/i><\/a> and Two Daxdilimab Phase 2 Trials in<\/i> Discoid Lupus Erythematosus<\/i><\/a> and <\/i>Lupus Nephritis<\/i><\/a> <\/i>—
\n
–<\/i>– Continue to Expect Amgen Transaction to Close in 1H23 —
\n
<\/i>— Named One of <\/i>Fortune\u2019s 100 Best Companies to Work For\u00ae<\/i><\/a> and Ranked as Top Biotechnology\/Pharmaceutical Company, Both for Third Consecutive Year<\/i> —<\/i><\/p>\n

DUBLIN–(BUSINESS WIRE)–Horizon Therapeutics plc (Nasdaq: HZNP) today announced first-quarter 2023 financial results.<\/p>\n

<\/a><\/p>\n

\n\u201cWe generated strong first-quarter performance, with double-digit growth for KRYSTEXXA and UPLIZNA, and saw positive trends in TEPEZZA’s leading indicators as we exited the first quarter,\u201d said Tim Walbert, chairman, president and chief executive officer, Horizon. \u201cImportantly, we announced positive topline results from our TEPEZZA clinical trial in low CAS and long-duration TED patients, as well as received FDA approval for an update to the TEPEZZA indication that reinforces the potential benefit of TEPEZZA, regardless of disease activity or duration. These important events will help us to ease the access burden so all eligible patients can benefit from TEPEZZA. I am extremely proud of what we have accomplished in a few short months and believe we are well positioned as we prepare to become part of Amgen.\u201d<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
Financial Highlights<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
(in millions except for per share amounts and percentages)<\/td>\n<\/td>\nQ1 23<\/b><\/td>\n<\/td>\nQ1 22<\/b><\/td>\n<\/td>\n%
Change<\/b><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net sales<\/td>\n<\/td>\n\n

\n$<\/p>\n<\/td>\n

\n

\n832.1<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/p>\n<\/td>\n

\n

\n885.2<\/p>\n<\/td>\n

<\/td>\n\n

\n(6<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Net income<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n54.7<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n204.3<\/p>\n<\/td>\n

<\/td>\n\n

\n(73<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Non-GAAP net income<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n194.3<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n315.8<\/p>\n<\/td>\n

<\/td>\n\n

\n(38<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Adjusted EBITDA<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n232.9<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n371.2<\/p>\n<\/td>\n

<\/td>\n\n

\n(37<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
Earnings per share – diluted<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n0.23<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n0.87<\/p>\n<\/td>\n

<\/td>\n\n

\n(74<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Non-GAAP earnings per share – diluted<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n0.83<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1.34<\/p>\n<\/td>\n

<\/td>\n\n

\n(38<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\nFirst-Quarter 2023 Net Sales Results<\/b><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(in millions except for percentages)<\/td>\n<\/td>\nQ1 23<\/b><\/td>\n<\/td>\nQ1 22<\/b><\/td>\n<\/td>\n%
Change<\/b><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
TEPEZZA\u00ae<\/sup><\/td>\n<\/td>\n\n

\n$<\/p>\n<\/td>\n

\n

\n405.3<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/p>\n<\/td>\n

\n

\n501.5<\/p>\n<\/td>\n

<\/td>\n\n

\n(19<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

KRYSTEXXA\u00ae<\/sup><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n187.0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n140.7<\/p>\n<\/td>\n

<\/td>\n\n

\n33<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

RAVICTI\u00ae<\/sup><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n90.3<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n78.3<\/p>\n<\/td>\n

<\/td>\n\n

\n15<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

UPLIZNA\u00ae(1)<\/sup><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n53.8<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n30.5<\/p>\n<\/td>\n

<\/td>\n\n

\n77<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

PROCYSBI\u00ae<\/sup><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n50.5<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n49.6<\/p>\n<\/td>\n

<\/td>\n\n

\n2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

ACTIMMUNE\u00ae<\/sup><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n29.1<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n31.3<\/p>\n<\/td>\n

<\/td>\n\n

\n(7<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

PENNSAID 2%\u00ae(2)<\/sup><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n9.2<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n35.4<\/p>\n<\/td>\n

<\/td>\n\n

\n(74<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

RAYOS\u00ae<\/sup><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n5.0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n13.5<\/p>\n<\/td>\n

<\/td>\n\n

\n(63<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

BUPHENYL\u00ae<\/sup><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1.4<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2.2<\/p>\n<\/td>\n

<\/td>\n\n

\n(35<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

QUINSAIRTM<\/sup><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n0.3<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n0.3<\/p>\n<\/td>\n

<\/td>\n\n

\n0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

DUEXIS\u00ae<\/sup><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n0.1<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1.1<\/p>\n<\/td>\n

<\/td>\n\n

\n(88<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

VIMOVO\u00ae<\/sup><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n0.1<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n0.9<\/p>\n<\/td>\n

<\/td>\n\n

\n(99<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Total Net Sales<\/b><\/td>\n<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n832.1<\/b><\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n885.2<\/b><\/p>\n<\/td>\n

<\/td>\n\n

\n(6<\/b><\/p>\n<\/td>\n

\n

\n)<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n
(1)<\/sup><\/td>\n\n

\nFirst-quarter 2023 UPLIZNA net sales included $6.6 million in international net sales related primarily to revenue and milestone payments from the Company\u2019s international partners. First-quarter 2022 UPLIZNA net sales included $5.2 million in international net sales.<\/sup><\/p>\n<\/td>\n<\/tr>\n

(2)<\/sup><\/td>\n\n

\nOn May 6, 2022, Apotex Inc. initiated an at-risk launch of generic PENNSAID 2% in the United States.<\/sup><\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nKey Growth Drivers<\/b><\/p>\n

\nTEPEZZA:<\/b> TEPEZZA net sales in the first quarter were $405 million, representing an 18 percent sequential decline compared to the fourth quarter of 2022. Net sales were impacted by seasonality, which the Company typically sees with its infused medicines in the first quarter each year. In addition, the TEPEZZA field-force expansion initiated late in 2022 has not yet substantially impacted net sales. More recently, the Company has seen the expansion drive positive momentum in the business, including increases in new prescribers, patient enrollment forms and patient starts. As new prescribers and patients work through the reimbursement process, the Company expects a more meaningful impact to net sales later in the year.<\/p>\n

\nIn April 2023, the Company announced positive topline results from its TEPEZZA Phase 4 clinical trial in patients with low CAS and long-duration TED and received FDA approval for an update to the indication for TEPEZZA that supports its potential benefit in TED, regardless of disease activity or duration. This reinforces the importance of unrestricted access for eligible patients across the full spectrum of TED and creates an opportunity to ease the access burden for patients and physicians and to decrease time to therapy for patients who may benefit from TEPEZZA. The Company plans to present data from the Phase 4 trial at a future medical congress and publish the data in a peer-reviewed medical journal to help educate key stakeholders, including physicians, patients and payors.<\/p>\n

\nKRYSTEXXA:<\/b> KRYSTEXXA first-quarter net sales were $187 million, representing a year-over-year increase of 33%. Sequentially, net sales declined by 13 percent compared to fourth-quarter 2022 due to seasonality. Strong performance in the first quarter was driven by the continued momentum in both the rheumatology and nephrology market segments, including the adoption of KRYSTEXXA with immunomodulation as the new standard of care following FDA approval in July 2022 for an expanded label to include KRYSTEXXA with methotrexate. The Company\u2019s efforts to educate physicians and key stakeholders continues to lead to strong patient growth from both new and existing prescribers across both market segments.<\/p>\n

\nUPLIZNA:<\/b> UPLIZNA first-quarter 2023 net sales were $53.8 million, representing a year-over-year increase of 77%, driven by continued strong execution. Net sales in the U.S. were $47.2 million, an increase of 87%, and were driven by strong and consistent growth in new prescribers and new patient starts. The Company continues to advance its global expansion strategy with multiple planned international launches in 2023.<\/p>\n

\nConference Call<\/b><\/p>\n

\nIn light of the announced agreement to be acquired by Amgen Inc. and applicable securities laws, the Company will not be hosting a conference call to discuss its financial results. This earnings press release and the related Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 are publicly available in the Investor Relations section of the Company\u2019s website at https:\/\/ir.horizontherapeutics.com<\/a>.<\/p>\n

\nAbout Horizon<\/b><\/p>\n

\nHorizon is a global biotechnology company focused on the discovery, development and commercialization of medicines that address critical needs for people impacted by rare, autoimmune and severe inflammatory diseases. Our pipeline is purposeful: we apply scientific expertise and courage to bring clinically meaningful therapies to patients. We believe science and compassion must work together to transform lives. For more information on how we go to incredible lengths to impact lives, visit www.horizontherapeutics.com<\/a> and follow us on Twitter<\/a>, LinkedIn<\/a>, Instagram<\/a> and Facebook<\/a>.<\/p>\n

\nNote Regarding Use of Non-GAAP Financial Measures<\/b><\/p>\n

\nHorizon provides certain non-GAAP financial measures, including EBITDA, or earnings before interest, taxes, depreciation and amortization, adjusted EBITDA, non-GAAP net income, non-GAAP diluted earnings per share, non-GAAP gross profit and gross profit ratio, non-GAAP operating expenses, non-GAAP operating income, non-GAAP tax benefit (expense) and tax rate, non-GAAP operating cash flow and certain other non-GAAP income statement line items, each of which include adjustments to GAAP figures. These non-GAAP measures are intended to provide additional information on Horizon\u2019s performance, operations, expenses, profitability and cash flows. Adjustments to Horizon\u2019s GAAP figures exclude, as applicable, acquisition and\/or divestiture-related costs, costs associated with our pending transaction with Amgen Inc., including responding to a second request review of the transaction by the United States Federal Trade Commission, manufacturing facility start-up costs, restructuring and realignment costs, as well as non-cash items such as share-based compensation, inventory step-up expense, depreciation and amortization, non-cash interest expense, goodwill and long-lived assets impairment charges, gain (loss) on equity security investments and other non-cash adjustments. Certain other special items or substantive events may also be included in the non-GAAP adjustments periodically when their magnitude is significant within the periods incurred. Horizon maintains an established non-GAAP cost policy that guides the determination of what costs will be excluded in non-GAAP measures. Horizon believes that these non-GAAP financial measures, when considered together with the GAAP figures, can enhance an overall understanding of Horizon\u2019s financial and operating performance. The non-GAAP financial measures are included with the intent of providing investors with a more complete understanding of the Company\u2019s historical and expected financial results and trends and to facilitate comparisons between periods and with respect to projected information. In addition, these non-GAAP financial measures are among the indicators Horizon\u2019s management uses for planning and forecasting purposes and measuring the Company’s performance. These non-GAAP financial measures should be considered in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. The non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, non-GAAP financial measures used by other companies.<\/i><\/p>\n

\nForward-Looking Statements<\/b><\/p>\n

\nThis press release contains forward-looking statements, including, but not limited to, statements related to the pending transaction with Amgen Inc., development, manufacturing and commercialization plans; expected timing of clinical trials; expected future milestones, pipeline expansions and regulatory approvals; potential market opportunities for, and benefits of, Horizon\u2019s medicines and medicine candidates; expected impact of commercial strategies, clinical trial results and product label updates; and business and other statements that are not historical facts. These forward-looking statements are based on Horizon\u2019s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, whether the pending transaction with Amgen Inc. will be completed in a timely manner or at all; the parties\u2019 ability to satisfy (or willingness to waive) the conditions to the consummation of the pending transaction with Amgen Inc., including with respect to required regulatory approvals; the effect of the pending transaction with Amgen Inc. on Horizon\u2019s business relationships, operating results and business generally; risks that Horizon\u2019s actual future financial and operating results may differ from its expectations or goals; Horizon\u2019s ability to grow net sales from existing medicines; impacts of the COVID-19 pandemic and actions taken to slow its spread, including impacts on supplies and net sales of Horizon\u2019s medicines and potential delays in clinical trials; impacts of the on-going war between Russia and Ukraine; changes in inflation, interest rates and general economic conditions; the availability of coverage and adequate reimbursement and pricing from government and third-party payers; Horizon\u2019s ability to successfully implement its business strategies, including the risks that its medicine growth and global expansion initiatives and strategies may not be successful and that new challenges to growth may arise in the future; risks inherent in developing novel medicine candidates and existing medicines for new indications; whether additional clinical trial results or data analyses will be consistent with preliminary results, results from other trials or Horizon\u2019s expectations; risks associated with regulatory approvals; risks in the ability to recruit, train and retain qualified personnel; competition, including generic competition; the ability to protect intellectual property and defend patents; regulatory obligations and oversight, including any changes in the legal and regulatory environment in which Horizon operates and those risks detailed from time-to-time under the caption “Risk Factors” and elsewhere in Horizon\u2019s filings and reports with the SEC. Horizon undertakes no duty or obligation to update any forward-looking statements contained in this press release as a result of new information.<\/i><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Horizon Therapeutics plc<\/b><\/td>\n<\/tr>\n
Condensed Consolidated Statements of Operations (Unaudited)<\/b><\/td>\n<\/tr>\n
(in thousands, except share and per share data)<\/b><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nThree Months Ended March 31,<\/b><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2023<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2022<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net sales<\/td>\n<\/td>\n\n

\n$<\/p>\n<\/td>\n

\n

\n832,059<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/p>\n<\/td>\n

\n

\n885,245<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Cost of goods sold<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n208,563<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n215,062<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Gross profit<\/b><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n623,496<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n670,183<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
OPERATING EXPENSES:<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Research and development (1)<\/sup><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n134,148<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n103,132<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Selling, general and administrative<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n453,354<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n372,734<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Total operating expenses<\/b><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n587,502<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n475,866<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Operating income<\/b><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n35,994<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n194,317<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
OTHER EXPENSE, NET:<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Interest expense, net<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(15,540<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(21,256<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Foreign exchange gain<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n91<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n420<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Other expense, net<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,343<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(742<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Total other expense, net<\/b><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(16,792<\/b><\/p>\n<\/td>\n

\n

\n)<\/b><\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(21,578<\/b><\/p>\n<\/td>\n

\n

\n)<\/b><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income before benefit for income taxes<\/b><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n19,202<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n172,739<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Benefit for income taxes<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(35,482<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(31,522<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Net income<\/b><\/td>\n<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n54,684<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n204,261<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income per ordinary share – basic<\/td>\n<\/td>\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.24<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.89<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted average ordinary shares outstanding – basic<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n228,397,661<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n229,094,311<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income per ordinary share – diluted<\/td>\n<\/td>\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.23<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.87<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted average ordinary shares outstanding – diluted<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n233,788,366<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n235,953,318<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n
(1)<\/sup><\/td>\nBeginning with the third quarter of 2022, we separately present upfront, milestone, and similar payments pursuant to collaborations, licenses of third-party technologies, and asset acquisitions as \u201cAcquired in-process research and development and milestones\u201d expenses in the condensed consolidated statement of comprehensive income. Amounts recorded in this line item would have historically been recorded to R&D expenses. We believe the new classification assists users of the financial statements in better understanding the payments incurred to acquire in-process research and development, or IPR&D. Prior period consolidated statements of comprehensive income have been reclassified to conform with the new classification. There were no acquired IPR&D and milestones expenses during the three months ended March 31, 2023 and 2022.<\/sup><\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Horizon Therapeutics plc<\/b><\/td>\n<\/tr>\n
Condensed Consolidated Balance Sheets (Unaudited)<\/b><\/td>\n<\/tr>\n
(in thousands, except share data)<\/b><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nAs of<\/b><\/td>\n<\/tr>\n
<\/td>\n<\/td>\nMarch 31,
2023<\/b><\/td>\n		<\/td>\nDecember 31,
2022<\/b><\/td>\n<\/tr>\n
ASSETS<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
CURRENT ASSETS:<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n<\/td>\n\n

\n$<\/p>\n<\/td>\n

\n

\n2,311,628<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/p>\n<\/td>\n

\n

\n2,352,833<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Restricted cash<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n4,772<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n4,755<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Accounts receivable, net<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n624,697<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n676,347<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Inventories, net<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n164,496<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n169,559<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Prepaid expenses and other current assets<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n497,254<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n449,349<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Total current assets<\/b><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,602,847<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,652,843<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Property, plant and equipment, net<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n355,872<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n340,509<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Developed technology and other intangible assets, net<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,576,163<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,664,777<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

In-process research and development<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n810,000<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n810,000<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Goodwill<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,010,538<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,010,538<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Deferred tax assets, net<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n450,219<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n431,814<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Other long-term assets<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n187,811<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n204,135<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Total assets<\/b><\/td>\n<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n8,993,450<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n9,114,616<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
LIABILITIES AND SHAREHOLDERS’ EQUITY<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
CURRENT LIABILITIES:<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Accounts payable<\/td>\n<\/td>\n\n

\n$<\/p>\n<\/td>\n

\n

\n76,619<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/p>\n<\/td>\n

\n

\n155,800<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Accrued expenses and other current liabilities<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n482,334<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n457,557<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Accrued trade discounts and rebates<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n309,935<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n319,780<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Long-term debt\u2014current portion<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n16,000<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n16,000<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Total current liabilities<\/b><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n884,888<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n949,137<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
LONG-TERM LIABILITIES:<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Long-term debt, net<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,544,230<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,546,837<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Deferred tax liabilities, net<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n271,550<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n342,017<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Other long-term liabilities<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n197,222<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n204,451<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Total long-term liabilities<\/b><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,013,002<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,093,305<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
COMMITMENTS AND CONTINGENCIES<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
SHAREHOLDERS’ EQUITY:<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Ordinary shares, $0.0001 nominal value; 600,000,000 shares<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
authorized at March 31, 2023 and December 31, 2022;<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
228,960,705 and 227,625,913 shares issued at March 31, 2023<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
and December 31, 2022, respectively; and 228,576,339 and 227,241,547 shares<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
outstanding at March 31, 2023 and December 31, 2022, respectively<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n23<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n23<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Treasury stock, 384,366 ordinary shares at March 31, 2023 and December 31, 2022<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(4,585<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(4,585<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Additional paid-in capital<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n4,448,744<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n4,474,199<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Accumulated other comprehensive income<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,685<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n12,528<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Retained earnings<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n644,693<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n590,009<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Total shareholders’ equity<\/b><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n5,095,560<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n5,072,174<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Total liabilities and shareholders’ equity<\/b><\/td>\n<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n8,993,450<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n9,114,616<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Horizon Therapeutics plc<\/b><\/td>\n<\/tr>\n
Condensed Consolidated Statements of Cash Flows (Unaudited)<\/b><\/td>\n<\/tr>\n
(in thousands)<\/b><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nThree Months Ended March 31,<\/b><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2023<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2022<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
CASH FLOWS FROM OPERATING ACTIVITIES:<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Net income<\/td>\n<\/td>\n\n

\n$<\/p>\n<\/td>\n

\n

\n54,684<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/p>\n<\/td>\n

\n

\n204,261<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Adjustments to reconcile net income to net cash provided by operating activities:<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Depreciation and amortization expense<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n94,860<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n95,112<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Equity-settled share-based compensation<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n58,120<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n47,300<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Amortization of debt discount and deferred financing costs<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,471<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,577<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Deferred income taxes<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(87,310<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(33,896<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Foreign exchange and other adjustments<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(434<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,190<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Changes in operating assets and liabilities:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Accounts receivable<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n51,530<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(51,665<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Inventories<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n5,067<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(785<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Prepaid expenses and other current assets<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(48,625<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(33,205<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Accounts payable<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(78,040<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n36,067<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Accrued trade discounts and rebates<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(9,938<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n47,279<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Accrued expenses and other current liabilities<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n42,858<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(113,775<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Other non-current assets and liabilities<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,080<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n14,331<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Net cash provided by operating activities<\/b><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n86,323<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n215,791<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

CASH FLOWS FROM INVESTING ACTIVITIES:<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Payments for acquisitions, net of cash acquired<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(3,122<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Purchases of property, plant and equipment<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(24,128<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(14,198<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Payments for long-term investments<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(2,623<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,464<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Receipts from long-term investments<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,060<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Payments related to license and collaboration agreements<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(15,000<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(25,000<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Net cash used in investing activities<\/b><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(41,751<\/b><\/p>\n<\/td>\n

\n

\n)<\/b><\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(40,724<\/b><\/p>\n<\/td>\n

\n

\n)<\/b><\/p>\n<\/td>\n<\/tr>\n

CASH FLOWS FROM FINANCING ACTIVITIES:<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Repayment of term loans<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(4,000<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(4,000<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Proceeds from the issuance of ordinary shares in connection with stock option exercises<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,421<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n9,071<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Payment of employee withholding taxes relating to share-based awards<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(87,549<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(115,108<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Net cash used in financing activities<\/b><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(88,128<\/b><\/p>\n<\/td>\n

\n

\n)<\/b><\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(110,037<\/b><\/p>\n<\/td>\n

\n

\n)<\/b><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash<\/b><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,368<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,921<\/b><\/p>\n<\/td>\n

\n

\n)<\/b><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net (decrease) increase in cash, cash equivalents and restricted cash<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(41,188<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n63,109<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Cash, cash equivalents and restricted cash, beginning of the period(1)<\/sup><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,357,588<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,584,156<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Cash, cash equivalents and restricted cash, end of the period(1)<\/sup><\/b><\/td>\n<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n2,316,400<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n1,647,265<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n
(1)<\/sup><\/td>\nAmounts include restricted cash balance in accordance with ASU No. 2016-18. Cash and cash equivalents excluding restricted cash are shown on the balance sheet.<\/sup><\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Horizon Therapeutics plc<\/b><\/td>\n<\/tr>\n
GAAP to Non-GAAP Reconciliations<\/b><\/td>\n<\/tr>\n
Net Income and Earnings Per Share (Unaudited)<\/b><\/td>\n<\/tr>\n
(in thousands, except share and per share data)<\/b><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
<\/td>\nThree Months Ended March 31,<\/b><\/td>\n<\/tr>\n
<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2023<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2022<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
GAAP net income<\/b><\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n54,684<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n204,261<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Non-GAAP adjustments:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Acquisition\/divestiture-related costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n681<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,589<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Transaction-related costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n9,784<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

(Gain) loss on equity security investments<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(352<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n4,646<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Restructuring and realignment costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,822<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n537<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Manufacturing facility start-up costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,476<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n807<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Amortization and step-up:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Intangible amortization expense<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n88,614<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n89,260<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Inventory step-up expense<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n29,743<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n27,201<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Amortization of debt discount and deferred financing costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,471<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,577<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Share-based compensation<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n58,120<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n47,300<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Depreciation<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,246<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n5,852<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Total of pre-tax non-GAAP adjustments<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n199,605<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n178,769<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Income tax effect of pre-tax non-GAAP adjustments<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(59,943<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(67,212<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Total of non-GAAP adjustments<\/b><\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n139,662<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n111,557<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Non-GAAP net income<\/b><\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n194,346<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n315,818<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-GAAP Earnings Per Share:<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted average ordinary shares – Basic<\/b><\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n228,397,661<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n229,094,311<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-GAAP Earnings Per Share – Basic:<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
GAAP earnings per share – Basic<\/b><\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n0.24<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n0.89<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Non-GAAP adjustments<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n0.61<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n0.49<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Non-GAAP earnings per share – Basic<\/b><\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n0.85<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n1.38<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted average ordinary shares – Diluted<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Weighted average ordinary shares – Basic<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n228,397,661<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n229,094,311<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Ordinary share equivalents<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n5,390,705<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,859,006<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Weighted average ordinary shares – Diluted<\/b><\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n233,788,366<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n235,953,318<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-GAAP Earnings Per Share – Diluted<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
GAAP earnings per share – Diluted<\/b><\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n0.23<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n0.87<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Non-GAAP adjustments<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n0.60<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n0.47<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Non-GAAP earnings per share – Diluted<\/b><\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n0.83<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n1.34<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Horizon Therapeutics plc<\/b><\/td>\n<\/tr>\n
GAAP to Non-GAAP Reconciliations<\/b><\/td>\n<\/tr>\n
EBITDA and Adjusted EBITDA (Unaudited)<\/b><\/td>\n<\/tr>\n
(in thousands)<\/b><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
<\/td>\nThree Months Ended March 31,<\/b><\/td>\n<\/tr>\n
<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2023<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2022<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
GAAP net income<\/b><\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n54,684<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n204,261<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Depreciation<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,246<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n5,852<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Amortization and step-up:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Intangible amortization expense<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n88,614<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n89,260<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Inventory step-up expense<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n29,743<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n27,201<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Interest expense, net (including amortization of<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
debt discount and deferred financing costs)<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n15,540<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n21,256<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Benefit for income taxes<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(35,482<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(31,522<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

EBITDA<\/b><\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n159,345<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n316,308<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Other non-GAAP adjustments:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Share-based compensation<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n58,120<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n47,300<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

(Gain) loss on equity security investments<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(352<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n4,646<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Acquisition\/divestiture-related costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n681<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,589<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Transaction-related costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n9,784<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Manufacturing facility start-up costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,476<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n807<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Restructuring and realignment costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,822<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n537<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Total of other non-GAAP adjustments<\/b><\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n73,531<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n54,879<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Adjusted EBITDA<\/b><\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n232,876<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n371,187<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Horizon Therapeutics plc<\/b><\/td>\n<\/tr>\n
GAAP to Non-GAAP Reconciliations<\/b><\/td>\n<\/tr>\n
Operating Income (Unaudited)<\/b><\/td>\n<\/tr>\n
(in thousands)<\/b><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
<\/td>\nThree Months Ended March 31,<\/b><\/td>\n<\/tr>\n
<\/td>\n\n

\n2023<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2022<\/b><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
GAAP operating income<\/b><\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n35,994<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n194,317<\/b><\/p>\n<\/td>\n<\/tr>\n

Non-GAAP adjustments:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Acquisition\/divestiture-related costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n681<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,589<\/p>\n<\/td>\n<\/tr>\n

Transaction-related costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n9,784<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n<\/tr>\n

Restructuring and realignment costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,822<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n537<\/p>\n<\/td>\n<\/tr>\n

Manufacturing facility start-up costs<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,476<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n807<\/p>\n<\/td>\n<\/tr>\n

Amortization and step-up:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Intangible amortization expense<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n88,614<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n89,260<\/p>\n<\/td>\n<\/tr>\n

Inventory step-up expense<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n29,743<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n27,201<\/p>\n<\/td>\n<\/tr>\n

Share-based compensation<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n58,120<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n47,300<\/p>\n<\/td>\n<\/tr>\n

Depreciation<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,246<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n5,852<\/p>\n<\/td>\n<\/tr>\n

Total of non-GAAP adjustments<\/b><\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n198,486<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n172,546<\/b><\/p>\n<\/td>\n<\/tr>\n

Non-GAAP operating income<\/b><\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n234,480<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n366,863<\/b><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
Foreign exchange gain<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n91<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n420<\/p>\n<\/td>\n<\/tr>\n

Other (expense) income, net<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,695<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,904<\/p>\n<\/td>\n<\/tr>\n

Adjusted EBITDA<\/b><\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n232,876<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n371,187<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Horizon Therapeutics plc<\/b><\/td>\n<\/tr>\n
GAAP to Non-GAAP Reconciliations<\/b><\/td>\n<\/tr>\n
Gross Profit and Operating Cash Flow (Unaudited)<\/b><\/td>\n<\/tr>\n
(in thousands, except percentages)<\/b><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nThree Months Ended March 31,<\/b><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

\n2023<\/b><\/p>\n<\/td>\n

<\/td>\n\n

\n2022<\/b><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-GAAP Gross Profit:<\/b><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
GAAP gross profit<\/b><\/td>\n<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n623,496<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n670,183<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Non-GAAP gross profit adjustments:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Acquisition\/divestiture-related costs<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(32<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,304<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

Intangible amortization expense<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n88,278<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n88,725<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Inventory step-up expense<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n29,743<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n27,201<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Share-based compensation<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,662<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,177<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Depreciation<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n48<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n56<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Total of Non-GAAP adjustments<\/b><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n120,699<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n116,855<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Non-GAAP gross profit<\/b><\/td>\n<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n744,195<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n787,038<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
GAAP gross profit %<\/b><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n74.9<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n75.7<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n

Non-GAAP gross profit %<\/b><\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n89.4<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n88.9<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u00a0<\/td>\n<\/tr>\n
GAAP cash provided by operating activities<\/b><\/td>\n<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n86,323<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n215,791<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Cash payments for acquisition\/divestiture-related costs<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n40<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n4,448<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Cash payments for restructuring and realignment costs<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n4,641<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n574<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Cash payments for manufacturing facility start-up costs<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,794<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,768<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Cash payments for transaction-related costs<\/td>\n<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,594<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

Non-GAAP operating cash flow<\/b><\/td>\n<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n101,392<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

<\/td>\n\n

\n$<\/b><\/p>\n<\/td>\n

\n

\n222,581<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Contacts<\/b> <\/p>\n

\nInvestors:<\/b>
Tina Ventura
\n
Senior Vice President,
\n
Chief Investor Relations Officer
\n
investor-relations@horizontherapeutics.com<\/a><\/p>\n

Erin Linnihan
\n
Executive Director,
\n
Investor Relations
\n
investor-relations@horizontherapeutics.com<\/a><\/p>\n

U.S. Media:<\/b>
Geoff Curtis
\n
Executive Vice President,
\n
Corporate Affairs & Chief Communications Officer
\n
media@horizontherapeutics.com<\/a><\/p>\n

Ireland Media:<\/b>
Eimear Rigby
\n
media@horizontherapeutics.com<\/a><\/p>\n

Read full story here <\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

First-Quarter 2023 Results: — Net Sales of $832.1 Million — — GAAP Net Income of $54.7 Million; Adjusted EBITDA of $232.9 Million — — TEPEZZA\u00ae (teprotumumab-trbw) Net Sales of $405.3 Million — — KRYSTEXXA\u00ae (pegloticase injection) Net Sales of $187.0 Million — — UPLIZNA\u00ae (inebilizumab-cdon) Net Sales of $53.8 Million — — Cash Position of … [Read more…]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-56486","6":"format-standard","7":"category-industry"},"yoast_head":"\nHorizon Therapeutics plc Reports First-Quarter 2023 Financial Results - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/horizon-therapeutics-plc-reports-first-quarter-2023-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Horizon Therapeutics plc Reports First-Quarter 2023 Financial Results - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"First-Quarter 2023 Results: — Net Sales of $832.1 Million — — GAAP Net Income of $54.7 Million; Adjusted EBITDA of $232.9 Million — — TEPEZZA\u00ae (teprotumumab-trbw) Net Sales of $405.3 Million — — KRYSTEXXA\u00ae (pegloticase injection) Net Sales of $187.0 Million — — UPLIZNA\u00ae (inebilizumab-cdon) Net Sales of $53.8 Million — — Cash Position of ... 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