In February 2020, Horizon Therapeutics (NASDAQ: HZNP) launched what would become a successful drug in its arsenal of rare disease treatments: Tepezza, a treatment for thyroid eye disease. Little did Horizon know that the COVID-19 pandemic was about to rule almost every aspect of our lives for more than a year, eventually leading to a dismal first quarter 2021 of revenue generated by the product.
For the three quarters after March 2020, Horizon's newest launch was welcomed in the medical community with open arms. So much so that it generated $800 million in revenue during 2020. But not all was going exactly as planned. While the launch went off well for Tepezza. COVID-19 was wreaking havoc across businesses and society, and ultimately that impact would hit Horizon.
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