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Sep 30, 2020
Jazz Pharmaceuticals Q3 2020 Earnings Report
Jazz Pharmaceuticals announced strong financial results for the third quarter of 2020, marked by increased total revenues and key product launches.
Key Takeaways
Jazz Pharmaceuticals reported a 12% increase in total revenues compared to the third quarter of 2019, driven by strong demand for Zepzelca and the launch of Xywav. The company also updated its 2020 financial guidance, increasing total revenue expectations to a range of $2.32 billion to $2.38 billion.
Total revenues increased by 12% compared to Q3 2019.
Zepzelca net product sales were $36.9 million following its launch in July 2020.
Xywav was launched in the U.S. for narcolepsy treatment in early November 2020.
Positive top-line results were announced for the JZP-258 Phase 3 study in idiopathic hypersomnia.
Forward Guidance
Jazz Pharmaceuticals updated its full year 2020 financial guidance, increasing total revenue guidance to $2.32 billion - $2.38 billion.
Positive Outlook
- Total revenue guidance increased to $2.32 billion - $2.38 billion.
- Total net product sales guidance increased to $2.30 billion - $2.36 billion.
- Oncology net product sales guidance increased to $525 million - $565 million.
- Neuroscience net sales guidance increased to $1.76 billion - $1.80 billion.
- Net income per diluted share raised to $3.70 - $4.85
Challenges Ahead
- SG&A expenses increased to $820 million - $858 million.
- R&D Expenses remained unchanged at $302 million - $338 million.
- Acquired in-process research and development expenses increased to $251 million.
- Impairment charge at $136 million.
Historical Earnings Impact
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