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Sep 30, 2022
Jazz Pharmaceuticals Q3 2022 Earnings Report
Announced financial results and raised total revenue guidance mid-point.
Key Takeaways
Jazz Pharmaceuticals announced strong Q3 2022 results, driven by growth in key products like Xywav and Epidiolex, and raised the mid-point of 2022 total revenue guidance to $3.65 billion.
Total revenues for 3Q22 were $940.7 million, a 12% increase compared to the same period in 2021.
Oxybate net product sales increased 11% to $512.0 million in 3Q22 compared to the same period in 2021.
Epidiolex/Epidyolex net product sales increased 22% to $196.2 million in 3Q22 compared to the same period in 2021.
The mid-point of 2022 total revenue guidance was raised to $3.65 billion.
Forward Guidance
The company has raised the mid-point of 2022 total revenue guidance to $3.65 billion driven by increases in the guidance mid-point for both our Neuroscience and Oncology therapeutic areas.
Positive Outlook
- Revenues between $3,600 - $3,700 million
- Neuroscience revenues between $2,700 - $2,800 million
- Oncology revenues between $860 - $920 million
- Gross margin % of 85%
- Effective tax rate between (88)% - 179%
Challenges Ahead
- SG&A expenses between $1,328 - $1,391 million
- SG&A expenses as % of total revenues between 36% - 39%
- R&D expenses between $560 - $596 million
- R&D expenses as % of total revenues between 15% - 17%
- Impairment charge of $134 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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