What is the current valuation of Horizon Therapeutics’s Daxdilimab
Daxdilimab is a monoclonal antibody commercialized by Horizon Therapeutics, with a leading Phase II program in Lupus Nephritis. According to Globaldata, it is involved in 8 clinical trials, of which 2 were completed, 5 are ongoing, and 1 is planned. GlobalData uses proprietary data and analytics to provide a complete picture of Daxdilimab’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
The revenue for Daxdilimab is expected to reach an annual total of $56 mn by 2038 in the US based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.
Daxdilimab (VIB-7734, MEDI-7734) is under development for the treatment of type I interferon-mediated autoimmune diseases including systemic lupus erythematosus, cutaneous lupus erythematosus, dermatomyositis, lupus nephritis and alopecia areata. It is administered through intravenous and subcutaneous route. It is a monoclonal antibody that binds to an extracellular domain of human ILT7. The drug candidate is developed based on dendritic cell platform.
It was also under development for COVID-19-related pneumonia and acute lung injury and polymyositis, Sjogren’s syndrome, systemic sclerosis.
Horizon Therapeutics Overview
Horizon Therapeutics formerly Horizon Pharma, is a pharmaceutical company, which develops and commercializes medical products for the treatment of rare, autoimmune, arthritis and severe inflammatory diseases. It markets medicines through its orphan, primary care and rheumatology business units. A few of the company’s marketed products include Actimmune, Buphenyl, Duexis, Krystexxa, Pennsaid, Procysbi, Quinsair, Ravicti, Rayos, Tepezza, Uplinza, and Vimovo. Horizon Therapeutics provides products and services to patients and healthcare professionals in the US. The company operates through offices in the US, Switzerland, Luxembourg, Bermuda, Germany, Canada, and Israel. Horizon Therapeutics is headquartered in Dublin, Ireland.
The company reported revenues of (US Dollars) US$3,226.4 million for the fiscal year ended December 2021 (FY2021), an increase of 46.6% over FY2020. In FY2021, the company’s operating margin was 16.8%, compared to an operating margin of 20.8% in FY2020. In FY2021, the company recorded a net margin of 16.6%, compared to a net margin of 17.7% in FY2020.
The company reported revenues of US$925.4 million for the third quarter ended September 2022, an increase of 5.6% over the previous quarter.
For a complete picture of Daxdilimab’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.
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