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Jazz Pharmaceuticals(JAZZ) - 2024 Q3 - Quarterly Report
2024-11-07 12:32
Product Performance - Jazz Pharmaceuticals reported approximately 13,625 patients taking Xywav as of Q3 2024, including about 10,075 with narcolepsy and 3,550 with idiopathic hypersomnia (IH) [88]. - The company achieved benefit coverage for Xywav in both narcolepsy and IH for approximately 90% of commercial lives in the U.S. [88]. - Xywav is recognized by the FDA as clinically superior to Xyrem due to its significantly lower sodium content, which is expected to reduce cardiovascular morbidity [88]. - Xywav received seven years of Orphan Drug Exclusivity from the FDA for narcolepsy, extending through January 2028 [88]. - Xywav has 92% lower sodium compared to high-sodium oxybates, with FDA recognizing seven years of ODE for Xywav in narcolepsy through July 21, 2027 [97]. - Xywav product sales increased by 17% to $388,466 thousand in Q3 2024 compared to $331,633 thousand in Q3 2023, and by 15% to $1,072,238 thousand for the nine months ended September 30, 2024, compared to $935,958 thousand in the same period in 2023 [102]. - Xyrem product sales decreased by 54% to $58,114 thousand in Q3 2024 compared to $125,110 thousand in Q3 2023, and by 60% to $184,526 thousand for the nine months ended September 30, 2024, compared to $463,009 thousand in the same period in 2023 [102]. - The company expects Xywav and Epidiolex/Epidyolex to remain its largest products, while also focusing on the commercialization of other existing and potential future products [131]. Pipeline and Development - Epidiolex was approved in the U.S. in June 2018 for treating seizures associated with Lennox-Gastaut syndrome and Dravet syndrome in patients aged two years and older [88]. - Rylaze was launched in the U.S. in July 2021 and is the only recombinant erwinia asparaginase product approved that maintains clinically meaningful asparaginase activity throughout treatment [89]. - The company focuses on expanding its pipeline in neuroscience and oncology therapeutic areas to address high unmet medical needs [84]. - Jazz Pharmaceuticals aims to enhance value through indication expansion and entry into global markets [84]. - Zanidatamab is under evaluation in multiple clinical trials for HER2-expressing cancers, with a BLA submission for second-line BTC completed in March 2024 and FDA Priority Review granted [91]. - The collaboration with Zymeworks for zanidatamab includes potential milestone payments of up to $1.4 billion, with total potential payments reaching $1.76 billion [91]. - JZP441, an orexin-2 receptor agonist, has achieved initial proof-of-concept in a Phase 1 trial, with plans for a Phase 1b trial in narcolepsy Type 1 patients in 2025 [92]. - The company has entered into a licensing agreement with Werewolf Therapeutics for JZP898, with potential milestone payments of up to $1.26 billion [92]. - The ongoing Phase 3 trial of Epidyolex in Japan did not meet its primary efficacy endpoint, but numeric improvements were observed in secondary endpoints [92]. - Zepzelca's ongoing Phase 3 trial in combination with Tecentriq showed positive top-line results in October 2024, indicating a statistically significant benefit in first-line maintenance treatment for extensive-stage SCLC [90]. - Rylaze received FDA approval for a new dosing schedule of 25/25/50 mg/m2 IM every Monday, Wednesday, and Friday in November 2022 [90]. Financial Performance - Product sales increased by 5% to $989,707 thousand in Q3 2024 compared to $938,398 thousand in Q3 2023, and by 1% to $2,795,953 thousand for the nine months ended September 30, 2024, compared to $2,769,604 thousand in the same period in 2023 [101]. - Royalties and contract revenues surged by 93% to $65,262 thousand in Q3 2024 from $33,742 thousand in Q3 2023, and totaled $184,824 thousand for the nine months ended September 30, 2024, compared to $52,665 thousand in the same period in 2023 [101]. - Total revenues increased by 9% to $1,054,969 thousand in Q3 2024 from $972,140 thousand in Q3 2023, and by 6% to $2,980,777 thousand for the nine months ended September 30, 2024, compared to $2,822,269 thousand in the same period in 2023 [102]. - Gross margin as a percentage of net product sales was 88.7% for both Q3 2024 and the nine months ended September 30, 2024, compared to 89.1% and 88.1% for the same periods in 2023 [106]. - The company expects total product sales to increase in 2024, driven by growth in Xywav, Epidiolex, and Rylaze, despite anticipated declines in Xyrem sales due to competition [104]. - The company anticipates royalties and contract revenues to increase in 2024, primarily due to higher royalty rates from net sales of high-sodium oxybate AG [105]. Expenses and Costs - Research and development expenses decreased by 15% to $199,919 thousand in Q3 2024 compared to $234,402 thousand in Q3 2023, while increasing by 2% to $643,500 thousand for the nine months ended September 30, 2024, compared to $633,050 thousand in the same period in 2023 [101]. - Selling, general and administrative expenses rose by 6% to $325,772 thousand in Q3 2024 from $308,310 thousand in Q3 2023, and increased by 7% to $1,016,007 thousand for the nine months ended September 30, 2024, compared to $947,071 thousand in the same period in 2023 [101]. - Clinical studies and outside services costs decreased by $31.7 million (22.6%) in Q3 2024 compared to Q3 2023, primarily due to lower costs related to zanidatamab and the absence of costs for JZP150 [110]. - Research and development expenses decreased by $34.5 million (14.7%) in the three months ended September 30, 2024, compared to the same period in 2023, but increased by $10.5 million (5.2%) in the nine months ended September 30, 2024 [110]. - Personnel expenses increased by $5.1 million (7.7%) in Q3 2024 compared to Q3 2023, driven by increased compensation costs [110]. Debt and Financing - The company had cash, cash equivalents, and investments of $2.6 billion as of September 30, 2024, with a long-term debt principal balance of $6.2 billion [116]. - A share repurchase program was authorized in July 2024 for up to $500 million, with $150 million spent to repurchase 1.4 million shares in Q3 2024 [119]. - The company completed a private placement of $1.0 billion principal amount of the 2030 Notes in September 2024 [127]. - An increase of $405.8 million in debt financing was due to net proceeds from the issuance of the 2030 Notes of $980.8 million, offset by the repayment of the 2024 Notes of $575.0 million [124]. - The 2030 Notes have an interest rate of 3.125% per year, payable semi-annually, and mature on September 15, 2030 [128]. - As of September 30, 2024, the interest rate and effective interest rate on the Tranche B-2 Dollar Term Loans were 7.10% and 8.27%, respectively [126]. - The company had an undrawn Revolving Credit Facility totaling $500.0 million as of September 30, 2024 [126]. Market and Competition - The company faces substantial competition from other companies, including those with larger sales organizations and more experience with diverse product portfolios [132]. - Xywav and Xyrem face competition from Avadel's Lumryz, which was launched in June 2023, leading to ongoing litigation regarding FDA's approval of Lumryz [97]. - In January 2023, an authorized generic version of high-sodium oxybate began impacting Xyrem and Xywav sales, with Hikma and Amneal launching their AG products in January and July 2023 respectively [98]. - Lupin received tentative approval for a generic version of Xywav on October 13, 2023, indicating increasing competition in the market [98]. - The commercial success of Epidiolex/Epidyolex is uncertain due to potential competition from generic products and non-FDA approved alternatives [98]. Regulatory and Legal Risks - The company is subject to significant ongoing regulatory obligations, which may lead to civil or criminal proceedings and additional expenses [134]. - Failure to comply with Medicaid Drug Rebate program obligations could result in penalties and adversely affect the company's financial condition [134]. - Ongoing legal proceedings and government investigations could result in significant monetary charges and distract from the company's operational strategy [99]. - The Inflation Reduction Act of 2022 may negatively impact the company's pricing strategies and revenue from sales of its products starting in 2026 [99]. - The company is subject to increasing pricing pressure and restrictions on reimbursement imposed by payors, which could adversely affect its financial condition [99]. Strategic Growth - The company intends to continue growing through acquisitions and in-licensing of differentiated products, but failure to do so could materially affect its business [98]. - The company is committed to developing life-changing medicines for patients with serious diseases, leveraging a robust pipeline of innovative therapeutics [84]. - The company is expanding its oncology pipeline through collaborations and licensing agreements, focusing on innovative therapies in hematology and precision oncology [91]. - To continue business growth, the company will need to commit substantial resources, potentially leading to future losses [134].
Compared to Estimates, Jazz (JAZZ) Q3 Earnings: A Look at Key Metrics
ZACKS· 2024-11-07 01:01
Core Insights - Jazz Pharmaceuticals reported revenue of $1.05 billion for the quarter ended September 2024, marking an 8.5% increase year-over-year, with an EPS of $6.61 compared to $4.84 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $1.04 billion by 1.75%, and the EPS surpassed the consensus estimate of $5.47 by 20.84% [1] Revenue Performance - Product sales, net reached $989.71 million, exceeding the average estimate of $976.01 million by analysts, representing a year-over-year increase of 5.5% [3] - Total revenues from Oncology products, specifically Defitelio/defibrotide, were $65.82 million, significantly above the average estimate of $48.66 million, reflecting a 37.9% year-over-year increase [3] - Neuroscience revenue from Oxybate (Xywav) was $388.47 million, surpassing the average estimate of $381.21 million, with a year-over-year growth of 17.1% [3] - Total revenues from Epidiolex/Epidyolex amounted to $251.56 million, slightly above the average estimate of $248.26 million, showing a 17.7% increase year-over-year [3] - Sativex revenues were $4.59 million, below the estimated $5.79 million, indicating a slight decline of 0.9% year-over-year [3] - Total Neuroscience revenues reached $702.72 million, exceeding the average estimate of $685.35 million, with a year-over-year increase of 4.1% [3] - Total Oncology revenues were $284.75 million, slightly below the average estimate of $286.96 million, reflecting a 9.4% year-over-year increase [3] - Rylaze revenues were $98.78 million, below the average estimate of $113.81 million, showing a decline of 5.8% year-over-year [3] - Vyxeos revenues reached $34.31 million, exceeding the average estimate of $38.27 million, with a year-over-year increase of 15% [3] - Zepzelca revenues were $85.84 million, slightly below the average estimate of $86.22 million, reflecting a year-over-year increase of 10.1% [3] - Other revenues were $2.23 million, below the estimated $3.16 million, indicating a significant decline of 23.3% year-over-year [3] Stock Performance - Jazz Pharmaceuticals' shares have returned 3.5% over the past month, outperforming the Zacks S&P 500 composite, which returned 0.7% [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]
Jazz Pharmaceuticals(JAZZ) - 2024 Q3 - Earnings Call Transcript
2024-11-07 00:31
Financial Data and Key Metrics Changes - Jazz Pharmaceuticals reported total revenue of over $1.05 billion for Q3 2024, representing a 9% increase compared to Q3 2023 [38] - Adjusted net income for the quarter was $417 million, a 23% increase year-over-year [38] - The company generated approximately $400 million in cash from operations in Q3 and around $1 billion through the first three quarters of the year [38] Business Line Data and Key Metrics Changes - The neuroscience therapeutic area saw total revenue of approximately $505 million, with Xywav net product sales growing 17% year-over-year to approximately $388 million [15][16] - Epidiolex achieved net product sales of approximately $252 million in Q3, representing an 18% increase compared to the same quarter in 2023 [20] - The oncology business reported total revenue of approximately $285 million, a 9% growth year-over-year, with Zepzelca sales increasing 10% to approximately $86 million [22][24] Market Data and Key Metrics Changes - Xywav remains the leading branded treatment for narcolepsy and the only approved therapy for idiopathic hypersomnia, with strong patient demand driving growth [9][16] - Epidiolex is nearing blockbuster status, with demand driven by multiple commercial initiatives and ongoing market expansion [20] - Rylaze saw a 6% decrease in net product sales to approximately $99 million, attributed to updated pediatric treatment protocols impacting timing of administration [22][11] Company Strategy and Development Direction - The company is focused on advancing its zanidatamab program, with a PDUFA date for biliary tract cancer set for November 29, 2024 [12][26] - Jazz Pharmaceuticals aims to invest in products and pipeline programs with the highest potential for sustainable growth [14] - The company is affirming its total revenue guidance of $4 billion to $4.1 billion for the year, with a focus on double-digit growth from key products [40][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing demand for Xywav and Epidiolex, highlighting the importance of low sodium messaging in driving growth [51] - The positive results from the IMforte trial for Zepzelca are expected to change the standard of care in first-line treatment for small cell lung cancer [29][30] - Management remains optimistic about the future, emphasizing operational excellence and strategic investments to enhance shareholder value [46] Other Important Information - The company plans to submit a supplemental NDA for Zepzelca to include first-line maintenance therapy in the first half of 2025 [30] - Jazz Pharmaceuticals is actively looking for corporate development opportunities in both oncology and neuroscience [90] Q&A Session Summary Question: Can the 150 net patient ads in narcolepsy for Xywav be considered reproducible? - Management noted improved persistency from the field nurse educator program and ongoing appreciation of low sodium benefits, contributing to the demand for Xywav [50] Question: Can you clarify the regulatory submission for Zepzelca? - Management indicated that the Phase 3 trial results would support an expansion of the label into a frontline indication, with a submission planned for the first half of next year [54] Question: What are the latest thoughts on the orexin class and product 441? - Management acknowledged advancements in the field and plans to initiate a Phase 1b trial for JZP441 in narcolepsy type 1 patients [60] Question: Can you provide insights on the HERIZON-01 trial for zanidatamab? - Management stated that the trial is designed to evaluate zanidatamab in combination with chemotherapy, with confidence in its efficacy across different patient subsets [72] Question: What is the exclusivity runway for Zepzelca? - Management refrained from speculating on exclusivity updates but expressed excitement about the recent data generated [86]
Jazz Pharmaceuticals (JAZZ) Q3 Earnings and Revenues Top Estimates
ZACKS· 2024-11-07 00:01
Core Insights - Jazz Pharmaceuticals reported quarterly earnings of $6.61 per share, exceeding the Zacks Consensus Estimate of $5.47 per share, and showing an increase from $4.84 per share a year ago, resulting in an earnings surprise of 20.84% [1] - The company generated revenues of $1.05 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.75% and increasing from $972.14 million year-over-year [2] - Jazz shares have underperformed the market, losing approximately 9.4% since the beginning of the year, while the S&P 500 has gained 21.2% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $6.05 on revenues of $1.08 billion, and for the current fiscal year, it is $19.52 on revenues of $4.04 billion [7] - The estimate revisions trend for Jazz is mixed, leading to a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Medical - Drugs industry, to which Jazz belongs, is currently ranked in the top 37% of over 250 Zacks industries, suggesting that stocks in the top 50% outperform those in the bottom 50% by more than 2 to 1 [8]
Jazz Pharmaceuticals(JAZZ) - 2024 Q3 - Quarterly Results
2024-11-06 21:06
[Third Quarter 2024 Financial Results and Highlights](index=1&type=section&id=Third%20Quarter%202024%20Financial%20Results%20and%20Highlights) [Key Highlights](index=1&type=section&id=Key%20Highlights) Jazz Pharmaceuticals achieved record Q3 2024 revenues exceeding $1.05 billion, driven by key growth products and affirmed full-year guidance with raised EPS forecasts and significant pipeline advancements - Key growth drivers (Xywav, Epidiolex, Rylaze) collectively grew **14% year-over-year**[1](index=1&type=chunk)[3](index=3&type=chunk) Updated 2024 Financial Guidance Highlights | Guidance Metric | 2024 Outlook | | :--- | :--- | | Total Revenue | $4.0 to $4.1 billion (Affirmed) | | Oncology Revenue | $1.08 to $1.13 billion (Lowered) | | Non-GAAP R&D Expense | $790 to $830 million (Lowered) | | GAAP EPS | $6.70 to $8.50 (Raised) | | Non-GAAP EPS | $19.50 to $20.60 (Raised) | - Key pipeline milestones include the zanidatamab PDUFA target action date of **November 29, 2024**, for 2L BTC and a planned sNDA submission for Zepzelca in 1L ES-SCLC in the **first half of 2025**[1](index=1&type=chunk)[2](index=2&type=chunk)[3](index=3&type=chunk) [Business and Pipeline Updates](index=2&type=section&id=Business%20and%20Pipeline%20Updates) [Commercial Updates](index=2&type=section&id=Commercial%20Updates) The commercial portfolio showed robust Q3 2024 performance, with Xywav and Epidiolex leading growth, while Xyrem declines were offset by authorized generic royalties [Xywav](index=2&type=section&id=Xywav) Xywav net product sales increased **17%** to **$388.5 million** in Q3 2024, adding approximately **400** new patients for a total of **13,625** active patients Xywav Q3 2024 Performance | Metric | Value | | :--- | :--- | | Net Product Sales | $388.5 million | | YoY Growth | +17% | | Net Patient Additions | ~400 | | Total Active Patients | ~13,625 | [Xyrem and AG Royalties](index=2&type=section&id=Xyrem%20and%20AG%20Royalties) Xyrem net product sales declined **54%** to **$58.1 million** in Q3 2024, offset by **$58.2 million** in high-sodium oxybate authorized generic royalties Xyrem & AG Royalties Q3 2024 (vs Q3 2023) | Product/Revenue Stream | Q3 2024 Sales | YoY Change | | :--- | :--- | :--- | | Xyrem Net Sales | $58.1 million | -54% | | High-Sodium Oxybate AG Royalties | $58.2 million | +$29.2 million | [Epidiolex/Epidyolex](index=2&type=section&id=Epidiolex%2FEpidyolex) Epidiolex/Epidyolex net product sales grew **18%** year-over-year to **$251.6 million** in Q3 2024, with approvals in over **35** countries - Epidiolex/Epidyolex net product sales reached **$251.6 million** in Q3 2024, an **18% increase** compared to Q3 2023[5](index=5&type=chunk) [Rylaze/Enrylaze](index=2&type=section&id=Rylaze%2FEnrylaze) Rylaze/Enrylaze net sales decreased **6%** to **$98.8 million** in Q3 2024 due to temporary protocol updates, with normalization expected by early 2025 - Rylaze revenue was temporarily impacted by an update to pediatric ALL protocols, with demand expected to normalize by **early 2025**[6](index=6&type=chunk) [Zepzelca](index=2&type=section&id=Zepzelca) Zepzelca net sales grew **10%** to **$85.8 million** in Q3 2024, with positive Phase 3 results supporting a planned sNDA submission in 1L ES-SCLC by mid-2025 - Based on positive Phase 3 results in 1L ES-SCLC, the company plans to submit an sNDA for Zepzelca in the **first half of 2025**[6](index=6&type=chunk) [Key Pipeline Highlights](index=3&type=section&id=Key%20Pipeline%20Highlights) The pipeline is advancing, with zanidatamab granted FDA Priority Review for 2L BTC, targeting a PDUFA date of **November 29, 2024**, and further data readouts planned for 2025 [Zanidatamab](index=3&type=section&id=Zanidatamab) Zanidatamab is under FDA Priority Review for BTC with a **November 29, 2024**, PDUFA date, and anticipates Q4 2024 launch, with further trial data expected in 2025 - The FDA granted Priority Review for zanidatamab in 2L BTC, with a PDUFA target action date of **November 29, 2024**[7](index=7&type=chunk) - Top-line data from the pivotal HERIZON-GEA-01 trial for zanidatamab in 1L GEA is expected in **Q2 2025**[7](index=7&type=chunk) - A new Phase 2 pan-tumor trial (DiscovHER-Pan-206) has been initiated to evaluate zanidatamab in HER2-positive solid tumors[7](index=7&type=chunk) [Financial Performance](index=3&type=section&id=Financial%20Performance) [Financial Highlights (Q3 2024)](index=3&type=section&id=Financial%20Highlights%20%28Q3%202024%29) Jazz Pharmaceuticals achieved total revenues of **$1.055 billion** in Q3 2024, a **9%** increase, with GAAP net income reaching **$215.1 million** and non-GAAP adjusted net income **$416.9 million** Q3 2024 vs. Q3 2023 Financial Highlights (in thousands, except per share) | Metric | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | Total Revenues | $1,054,969 | $972,140 | | GAAP Net Income | $215,055 | $146,820 | | Non-GAAP Adjusted Net Income | $416,924 | $340,148 | | GAAP EPS (diluted) | $3.42 | $2.14 | | Non-GAAP Adjusted EPS (diluted) | $6.61 | $4.84 | [Total Revenues](index=3&type=section&id=Total%20Revenues) Total revenues increased **9%** to **$1.055 billion** in Q3 2024, driven by **8%** growth in Neuroscience revenue and **9%** growth in Oncology net product sales Q3 2024 Revenue Breakdown (in thousands) | Segment / Product | Q3 2024 Revenue | Q3 2023 Revenue | | :--- | :--- | :--- | | **Total Neuroscience** | **$702,724** | **$675,081** | | Xywav | $388,466 | $331,633 | | Epidiolex/Epidyolex | $251,558 | $213,711 | | Xyrem | $58,114 | $125,110 | | **Total Oncology** | **$284,754** | **$260,410** | | Rylaze/Enrylaze | $98,780 | $104,859 | | Zepzelca | $85,843 | $77,994 | | Defitelio/defibrotide | $65,818 | $47,730 | | **High-sodium oxybate AG royalty** | **$58,157** | **$28,921** | | **Total Revenues** | **$1,054,969** | **$972,140** | [Operating Expenses and Effective Tax Rate](index=5&type=section&id=Operating%20Expenses%20and%20Effective%20Tax%20Rate) Q3 2024 GAAP R&D expenses decreased to **$199.9 million**, while GAAP SG&A expenses increased to **$325.8 million**, resulting in a GAAP effective tax rate of **(7.2%)** Q3 2024 vs. Q3 2023 Operating Expenses (GAAP, in thousands) | Expense Line | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | Cost of product sales | $111,611 | $102,153 | | Selling, general and administrative | $325,772 | $308,310 | | Research and development | $199,919 | $234,402 | - The decrease in R&D expenses was primarily due to lower clinical program costs for JZP150 and zanidatamab[18](index=18&type=chunk) - The increase in SG&A expenses was primarily due to increased compensation-related expenses driven by higher headcount to support key growth drivers[17](index=17&type=chunk) [Cash Flow and Balance Sheet](index=6&type=section&id=Cash%20Flow%20and%20Balance%20Sheet) As of September 30, 2024, Jazz held **$2.6 billion** in cash and investments, with **$6.2 billion** in long-term debt, generating **$997.3 million** in cash from operations year-to-date Key Financial Position Data (as of Sep 30, 2024) | Metric | Value | | :--- | :--- | | Cash, cash equivalents and investments | $2.6 billion | | Long-term debt (principal balance) | $6.2 billion | | Cash from operations (YTD) | $997.3 million | [Senior Notes Offering and Share Repurchases](index=3&type=section&id=Senior%20Notes%20Offering%20and%20Share%20Repurchases) In Q3 2024, the company completed a **$1.0 billion** private placement of exchangeable senior notes and repurchased approximately **$150.0 million** of its ordinary shares - Completed a private placement of **$1.0 billion** aggregate principal amount of **3.125%** exchangeable senior notes due **2030**[8](index=8&type=chunk) - Concurrently repurchased approximately **$150.0 million** of its ordinary shares as part of its share repurchase program[8](index=8&type=chunk) [2024 Financial Guidance](index=7&type=section&id=2024%20Financial%20Guidance) [Updated Full-Year 2024 Guidance](index=7&type=section&id=Updated%20Full-Year%202024%20Guidance) Jazz Pharmaceuticals affirmed full-year 2024 total revenue guidance at **$4.0 to $4.1 billion**, while raising GAAP and non-GAAP EPS guidance due to strategic pipeline prioritization Full-Year 2024 Guidance Update (in millions, except per share amounts) | Metric | Updated Guidance (Nov 6, 2024) | Previous Guidance (Jul 31, 2024) | | :--- | :--- | :--- | | Total Revenues | $4,000 - $4,100 | $4,000 - $4,100 | | Oncology Revenue | $1,080 - $1,130 | $1,100 - $1,180 | | GAAP R&D Expenses | $862 - $908 | $887 - $935 | | Non-GAAP R&D Expenses | $790 - $830 | $810 - $850 | | GAAP Net Income per Diluted Share | $6.70 - $8.50 | $6.00 - $8.00 | | Non-GAAP Net Income per Diluted Share | $19.50 - $20.60 | $19.20 - $20.30 | [Supplementary Information](index=8&type=section&id=Supplementary%20Information) [Conference Call Details](index=8&type=section&id=Conference%20Call%20Details) This section provides logistical details for the investor conference call and webcast held on **November 6, 2024**, to discuss Q3 2024 financial results - An investor conference call and webcast were scheduled for **4:30 p.m. ET** on **November 6, 2024**, to discuss Q3 results[26](index=26&type=chunk) [Non-GAAP Financial Measures Explanation](index=9&type=section&id=Non-GAAP%20Financial%20Measures%20Explanation) The company utilizes non-GAAP financial measures to supplement GAAP results, providing investors and management with enhanced insights into operating trends and performance - The company uses non-GAAP financial measures to supplement GAAP results, facilitating better analysis of operating trends and period-to-period comparisons for investors and management[30](index=30&type=chunk)[31](index=31&type=chunk) [Forward-Looking Statements](index=10&type=section&id=Forward-Looking%20Statements) This section contains forward-looking statements regarding growth, financial guidance, and pipeline, subject to significant risks and uncertainties that may cause actual results to differ materially - The report contains forward-looking statements concerning financial guidance, pipeline development (e.g., Zepzelca sNDA, zanidatamab launch), and commercial expectations, which are subject to significant risks and uncertainties[34](index=34&type=chunk)[35](index=35&type=chunk)[37](index=37&type=chunk) [Detailed Financial Statements and Reconciliations](index=12&type=section&id=Detailed%20Financial%20Statements%20and%20Reconciliations) This section provides detailed unaudited consolidated financial statements for Q3 2024 and 2023, including Statements of Operations, Balance Sheets, and Cash Flows, along with GAAP to non-GAAP reconciliations - The report includes detailed unaudited Consolidated Statements of Operations, Balance Sheets, and Statements of Cash Flows[39](index=39&type=chunk)[41](index=41&type=chunk)[42](index=42&type=chunk) - Provides comprehensive reconciliations of GAAP reported financial information to non-GAAP adjusted information for historical periods and for 2024 financial guidance[44](index=44&type=chunk)[46](index=46&type=chunk)[52](index=52&type=chunk)
Jazz Pharmaceuticals Announces Third Quarter 2024 Financial Results
Prnewswire· 2024-11-06 21:05
– 14% year-over-year revenue increase from combined key growth drivers:Xywav®, Epidiolex® and Rylaze® –– 2024 total revenue guidance affirmed at $4.0 to $4.1 billion –– Zanidatamab 2L BTC PDUFA date of November 29, 2024 –– Plan to submit sNDA for Zepzelca® in 1L ES-SCLC in 1H25 –DUBLIN, Nov. 6, 2024  /PRNewswire/ -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ) today announced financial results for the third quarter of 2024 and updated guidance for 2024."Jazz once again delivered record revenues of more than $1.0 ...
THE RITZ-CARLTON, NAPLES DEBUTS "NYE BLACK-TIE GALA" WITH ACCLAIMED JAZZ SENSATION STELLA COLE
Prnewswire· 2024-11-04 20:35
Core Insights - The Ritz-Carlton, Naples is hosting its inaugural "NYE Black-Tie Gala" on New Year's Eve, featuring a luxurious five-course dinner and live jazz performances by Stella Cole, marking a significant addition to the resort's event offerings [2][3]. Event Details - The gala includes a 'Meet the Artist' reception, a five-course dinner curated by Executive Chef Satish Yerramilli, and a live performance by Stella Cole, culminating in a midnight countdown [4][5]. - Guests can enjoy premium bar selections and receive an autographed album of Stella Cole's debut release [5]. Ticket Pricing - Ticket options include Premiere Seating at $650 per person, Reserved Seating at $525 per person, and Large Table Reservations starting from $500 per person, all packages inclusive of taxes, gratuity, and valet parking [7]. Room Reservations - An exclusive "NYE Black-Tie Gala" package is available, which includes an overnight stay in a Coastal View Guestroom and two reserved seating-level tickets for the gala [8]. About The Ritz-Carlton, Naples - The Ritz-Carlton, Naples is a luxury resort featuring 474 guest rooms, a newly renovated Vanderbilt Tower, and various dining venues, recognized for its high standards and numerous accolades [10].
Jazz Pharmaceuticals to Report 2024 Third Quarter Financial Results on November 6, 2024
Prnewswire· 2024-10-23 20:15
DUBLIN, Oct. 23, 2024 /PRNewswire/ -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ) today announced that it will report its 2024 third quarter financial results on Wednesday, November 6, 2024, after the close of the U.S. financial markets. Company management will host a live audio webcast at 4:30 p.m. ET / 9:30 p.m. GMT to discuss 2024 third quarter financial results and provide a business and financial update.  Audio webcast/conference call: U.S. Dial-In Number: +1 800 715 9871Ireland Dial-In Number: +353 1800 9 ...
Are Investors Undervaluing Jazz Pharmaceuticals (JAZZ) Right Now?
ZACKS· 2024-10-17 14:45
The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks. Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at ...
JAZZ vs. ZTS: Which Stock Is the Better Value Option?
ZACKS· 2024-10-16 16:45
Investors interested in Medical - Drugs stocks are likely familiar with Jazz Pharmaceuticals (JAZZ) and Zoetis (ZTS) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look. The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with speci ...