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Dec 31, 2021
Jazz Pharmaceuticals Q4 2021 Earnings Report
Jazz Pharmaceuticals announced financial results for the full year and fourth quarter of 2021.
Key Takeaways
Jazz Pharmaceuticals' total revenues reached $3.1 billion in 2021, a 31% increase compared to 2020, driven by growing commercial franchises and the acquisition of GW Pharmaceuticals. The company is focused on growing and diversifying revenue, investing in novel therapies, and delivering innovative therapies for patients. They expect meaningful top- and bottom-line growth with 2022 total revenue guidance of $3.46 to $3.66 billion.
Net product sales for the combined oxybate business increased 4% to $471.4 million in 4Q21 compared to the same periods in 2020.
Epidiolex/Epidyolex net product sales were $193.8 million in 4Q21, representing growth of 35% compared to 4Q20 on a proforma basis.
Zepzelca net product sales increased 21% to $64.8 million in 4Q21 compared to 4Q20.
Rylaze net product sales were $65.0 million in 4Q21, following commercial launch on July 15, 2021.
Forward Guidance
Jazz Pharmaceuticals' full year 2022 financial guidance includes revenues between $3.46 to $3.66 billion, GAAP Gross margin % of 83%, Non-GAAP Gross margin % of 92%, GAAP SG&A expenses between $1.298 to $1.397 billion, Non-GAAP SG&A expenses between $1.120 to $1.190 billion, GAAP R&D expenses between $621 to $670 million, Non-GAAP R&D expenses between $560 to $600 million, Effective tax rate between (116)% to (32)%, Non-GAAP Effective tax rate between 10% - 12%, Net income between $10 to $185 million, Non-GAAP adjusted net income between $1.130 to $1.200 billion, GAAP net income per diluted share between $0.50 to $3.00, and Non-GAAP adjusted net income per diluted share between $16.00 to $17.00.
Historical Earnings Impact
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