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Dec 31, 2019
Jazz Pharmaceuticals Q4 2019 Earnings Report
Jazz Pharmaceuticals reported strong Q4 2019 financial results with a revenue increase of 22% compared to Q4 2018. The company appointed Renée Galá as Executive Vice President and Chief Financial Officer and Samantha Pearce as Senior Vice President, Europe and Rest of World.
Key Takeaways
Jazz Pharmaceuticals announced its Q4 2019 financial results, reporting a 22% increase in total revenues compared to the same period in 2018. The company also highlighted key corporate and R&D updates, including the appointments of Renée Galá as CFO and Samantha Pearce as SVP, Europe/Rest of World.
Total revenues increased by 22% to $581.74 million compared to Q4 2018.
GAAP net income was $74.0 million, or $1.29 per diluted share, compared to $159.5 million, or $2.64 per diluted share, for Q4 2018.
Adjusted net income was $253.2 million, or $4.42 per diluted share, compared to $220.0 million, or $3.64 per diluted share, for Q4 2018.
The company completed enrollment in its prevention of acute graft-vs-host disease (aGvHD) Phase 2 study for Defitelio and activated sites for its Phase 1b master trial of Vyxeos.
Jazz Pharmaceuticals
Jazz Pharmaceuticals
Jazz Pharmaceuticals Revenue by Segment
Revenue by Segment
Xyrem Revenue
CapyFin.comDefitelio/defibrotide Revenue
CapyFin.comVyxeos Revenue
CapyFin.comOther Revenue
CapyFin.comRoyalties & Contracts Revenue
CapyFin.com Forward Guidance
Jazz Pharmaceuticals provided full year 2020 financial guidance for revenues, net product sales, gross margin, SG&A expenses, R&D expenses, acquired in-process research and development expenses, effective tax rate, and net income per diluted share.
Positive Outlook
- Revenues are expected to be between $2.32 billion and $2.40 billion.
- Total net product sales are projected to be between $2.305 billion and $2.375 billion.
- Gross margin is anticipated to be 94%.
- Net income per diluted share is estimated to be between $5.90 and $7.15 on a GAAP basis.
- Net income per diluted share is expected to be between $12.50 and $13.40 on a non-GAAP adjusted basis.
Challenges Ahead
- SG&A expenses are projected to be between $855 million and $903 million on a GAAP basis.
- SG&A expenses are expected to be between $770 million and $810 million on a non-GAAP adjusted basis.
- R&D expenses are anticipated to be between $312 million and $348 million on a GAAP basis.
- R&D expenses are projected to be between $285 million and $315 million on a non-GAAP adjusted basis.
- Effective tax rate is estimated to be between 15% and 23% on a GAAP basis.
Revenue & Expenses
Visualization of income flow from segment revenue to net income