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Mar 31, 2021
Jazz Pharmaceuticals Q1 2021 Earnings Report
Jazz Pharmaceuticals announced its financial results for Q1 2021, showing revenue growth and progress in key areas.
Key Takeaways
Jazz Pharmaceuticals reported a 14% increase in total revenues to $607.6 million compared to Q1 2020, driven by strong Xywav adoption and continued Zepzelca growth. The company affirmed its 2021 total revenue guidance of $2.55 billion to $2.70 billion and is on track to close the acquisition of GW Pharmaceuticals in early May.
Xywav adoption is strong with 3,900 active patients exiting the first quarter.
Zepzelca continued to grow across the second-line SCLC setting.
Xywav in Idiopathic Hypersomnia was granted FDA Priority Review with an August 12, 2021 PDUFA target action date.
The company is on track to close the acquisition of GW Pharmaceuticals plc in early May.
Jazz Pharmaceuticals
Jazz Pharmaceuticals
Forward Guidance
The Company is affirming its full year 2021 financial guidance.
Positive Outlook
- Revenues $2,550 - $2,700 million
- Total net product sales $2,540 - $2,685 million
- Neuroscience $1,785 - $1,885 million
- Oncology $715 - $835 million
- Non-GAAP Net income per diluted share $15.65 - $16.85
Challenges Ahead
- GAAP Gross margin % 93%
- GAAP SG&A expenses $1,032 - $1,100 million
- GAAP SG&A expenses as % of total revenues 38% - 43%
- GAAP R&D Expenses $365 - $410 million
- GAAP R&D expenses as % of total revenues 14% - 16%