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Jazz Pharmaceuticals Announces Full Year and Fourth Quarter 2024 Financial Results and Provides 2025 Financial Guidance
JAZZJazz Pharmaceuticals(JAZZ) Prnewswire·2025-02-25 21:05

Core Insights - Jazz Pharmaceuticals reported record total revenues of over 4billionfortheyear2024,reflectinga64 billion for the year 2024, reflecting a 6% year-over-year growth [2][6][14] - The company anticipates continued growth in 2025, with guidance for total revenues between 4.15 billion and 4.40billion,representinga54.40 billion, representing a 5% growth at the midpoint [7][22] Financial Performance - Total revenues for Q4 2024 were 1.1 billion, up from 1.0billioninQ42023[10][12]−GAAPnetincomefor2024was1.0 billion in Q4 2023 [10][12] - GAAP net income for 2024 was 560.1 million, or 8.65perdilutedshare,comparedto8.65 per diluted share, compared to 414.8 million, or 6.10perdilutedshare,for2023[10][11]−Non−GAAPadjustednetincomefor2024was6.10 per diluted share, for 2023 [10][11] - Non-GAAP adjusted net income for 2024 was 1.37 billion, or 20.90perdilutedshare,comparedto20.90 per diluted share, compared to 1.30 billion, or 18.29perdilutedshare,for2023[11][12]RevenueBreakdown−Xywavnetproductsalesincreased1618.29 per diluted share, for 2023 [11][12] Revenue Breakdown - Xywav net product sales increased 16% to 1.47 billion in 2024, while Epidiolex/Epidyolex sales rose 15% to 972.4million[6][12]−Oncologyrevenuessurpassed972.4 million [6][12] - Oncology revenues surpassed 1.1 billion in 2024, growing 9% year-over-year [6][16] - Zepzelca net product sales increased 11% to 320.3millionin2024[13][16]PipelineDevelopments−Ziiherawasapprovedfor2LHER2+biliarytractcancerandachievedfirstsalesinDecember2024[6][13]−Upcomingtop−linedatafromtheHERIZON−GEA−01trialin1Lgastroesophagealadenocarcinomaisexpectedinthesecondhalfof2025[2][7]−ThecompanyplanstosubmitasupplementalNewDrugApplicationforZepzelcaincombinationwithTecentriqfor1Lextensive−stagesmallcelllungcancerinthefirsthalfof2025[7][13]OperatingExpenses−Totaloperatingexpensesfor2024were320.3 million in 2024 [13][16] Pipeline Developments - Ziihera was approved for 2L HER2+ biliary tract cancer and achieved first sales in December 2024 [6][13] - Upcoming top-line data from the HERIZON-GEA-01 trial in 1L gastroesophageal adenocarcinoma is expected in the second half of 2025 [2][7] - The company plans to submit a supplemental New Drug Application for Zepzelca in combination with Tecentriq for 1L extensive-stage small cell lung cancer in the first half of 2025 [7][13] Operating Expenses - Total operating expenses for 2024 were 3.35 billion, compared to 3.26billionin2023[10][12]−Selling,generalandadministrativeexpensesincreasedduetohighercompensation−relatedexpensesandincreasedinvestmentinsalesandmarketing[20][21]CashFlowandBalanceSheet−Thecompanygeneratedover3.26 billion in 2023 [10][12] - Selling, general and administrative expenses increased due to higher compensation-related expenses and increased investment in sales and marketing [20][21] Cash Flow and Balance Sheet - The company generated over 1.4 billion in cash from operations in 2024 [7][19] - As of December 31, 2024, cash, cash equivalents, and investments totaled 3.0billion,withlong−termdebtat3.0 billion, with long-term debt at 6.2 billion [19][37]