The FDA approved Viridian Therapeutics’ thyroid eye disease drug veligrotug, initiating a new competitive cycle for Amgen’s Tepezza franchise. Viridian will market the therapy as Lumvoa, with company pricing described as “in line with” Tepezza. The approval expands the commercial battlefield in a category where Amgen’s Tepezza has been a dominant treatment option for thyroid eye disease, and it increases pressure on payers and providers to evaluate comparative efficacy and safety across available regimens. For industry stakeholders, the launch also tests how quickly competing therapies can establish uptake after approval in an immunology-adjacent ophthalmic indication.