Jazz Pharmaceuticals Q3 2024 Earnings Report
Key Takeaways
Jazz Pharmaceuticals announced strong Q3 2024 results with record revenues exceeding $1.05 billion. Key growth drivers, including Xywav, Epidiolex, and Rylaze, saw a combined 14% year-over-year revenue increase. The company has affirmed its 2024 total revenue guidance between $4.0 to $4.1 billion.
Key growth drivers grew 14% combined year-over-year.
Zepzelca and atezolizumab combination showed statistically significant and clinically meaningful improvement in OS and PFS primary endpoints.
Zanidatamab has a PDUFA date of November 29, with a 2L BTC commercial launch expected in 4Q24, following approval.
2024 total revenue guidance affirmed at $4.0 to $4.1 billion.
Jazz Pharmaceuticals
Jazz Pharmaceuticals
Jazz Pharmaceuticals Revenue by Segment
Forward Guidance
The company is updating its full year 2024 financial guidance and affirming 2024 total revenue guidance of $4.0 to $4.1 billion.
Positive Outlook
- Affirming 2024 total revenue guidance of $4.0 to $4.1 billion.
- Affirming neuroscience revenue guidance of $2.825 to $2.925 billion.
- Raising GAAP EPS guidance range to $6.70 to $8.50.
- Raising non-GAAP EPS guidance range to $19.50 to $20.60.
Challenges Ahead
- Lowering oncology revenue guidance to $1.08 to $1.13 billion.
- Lowering GAAP R&D expense guidance to $862 to $908 million.
- Lowering non-GAAP R&D expense guidance to $790 to $830 million.
- GAAP effective tax rate is expected to be between (17)% and (2)%.
- Non-GAAP adjusted effective tax rate is expected to be between 10% and 12%.