February 24, 2026 2025 Fourth Quarter and Full Year Financial Results Redefining Possibilities in Rare Disease Transforming Lives. Redefining Possibilities. Caution Concerning Forward-Looking Statements This presentation contains forward-looking statements, including, but not limited to, statements related to: the Company's growth prospects and future financial and operating results, including the Company's 2026 financial guidance and the Company's expectations related thereto; anticipated multiple near-ter ...

Patient and Product Information - Jazz Pharmaceuticals reported approximately 16,175 patients taking Xywav by the end of 2025, including about 10,950 with narcolepsy and 5,225 with idiopathic hypersomnia (IH) [445]. - Xywav has demonstrated a 92% reduction in sodium content compared to Xyrem, making it a safer option for patients with narcolepsy and IH [442]. - The company achieved benefit coverage for Xywav in both narcolepsy and IH for approximately 90% of commercial lives in the U.S. [444]. - Epidiolex, acquired in May 2021, is approved for treating seizures associated with LGS, DS, and TSC, and is now launched and reimbursed in over 40 countries [446]. - Ziihera received accelerated approval from the FDA in November 2024 for treating adults with previously treated, unresectable or metastatic HER2-positive BTC [448]. - The FDA recognized seven years of orphan drug exclusivity (ODE) for Xywav in narcolepsy through January 2028 [442]. - The company focuses on rare diseases, which often have high unmet needs and small patient populations, allowing for efficient commercialization [435]. - Jazz Pharmaceuticals aims to leverage its scalable operating model to effectively reach patients globally [435]. Research and Development - The company continues to invest in R&D programs that align with its rare disease strategy [436]. - JZP898, a differentiated immuno-oncology molecule, entered Phase 1 trials after a $15 million upfront payment to Werewolf, with potential milestone payments up to $1.26 billion [463]. - JZP053, a preclinical epilepsy treatment, was licensed from Saniona for $42.5 million upfront, with potential milestone payments up to $800 million [465]. - The company initiated a Phase 1b trial for Epidiolex to evaluate its effectiveness in reducing focal seizures, with ongoing trials for multiple product candidates including zanidatamab and Vyxeos [466]. - Zanidatamab's Phase 3 HERIZON-GEA-01 trial showed statistically significant progression-free survival and overall survival benefits in HER2-positive locally advanced or metastatic GEA [470]. - The company has ongoing trials for multiple oncology products, including Rylaze, Zepzelca, Ziihera, Modeyso, Vyxeos, and Defitelio, which are critical for its growth strategy [476]. - The company’s growth strategy includes continued investment in R&D activities, with potential risks if clinical development does not succeed or regulatory approvals are delayed [477]. Financial Performance - Product sales for 2025 reached $4,021,849, a 5% increase from 2024's $3,821,164 [485]. - Xywav product sales increased by 12% in 2025, driven by a 14% increase in sales volumes, with 10,950 patients using it for narcolepsy and 5,225 for idiopathic hypersomnia (IH) by the end of 2025 [490]. - Xyrem product sales decreased by 38% in 2025, primarily due to a 33% drop in sales volumes attributed to competition from high-sodium oxybate [488]. - Epidiolex/Epidyolex product sales increased by 9% in 2025, mainly due to a 7% increase in sales volumes driven by higher demand [490]. - Total revenues for 2025 were $4,267,586, reflecting a 5% increase from $4,068,950 in 2024 [488]. - Selling, general and administrative expenses rose by 31% in 2025 to $1,809,271, compared to $1,385,294 in 2024 [485]. - Research and development expenses decreased by 11% in 2025 to $782,736, down from $884,000 in 2024 [485]. - Interest expense decreased by 18% in 2025 to $195,051, compared to $238,097 in 2024 [485]. - The company anticipates potential adverse effects on margins due to increased tariffs on imported pharmaceutical products starting as early as fiscal 2026 [483]. - The IRA mandates price negotiations for certain high Medicare spend drugs starting in 2026, which could limit commercial opportunities and negatively impact revenues [479]. Product Sales and Market Dynamics - Defitelio/defibrotide product sales decreased by 8% in 2025 compared to 2024, while Vyxeos product sales decreased by 10% in the same period, both primarily due to decreased sales volumes [493][496]. - Modeyso product sales were $48.0 million in 2025 following its launch in August 2025, and Ziihera product sales were $24.8 million in 2025 after its launch in December 2024 [493]. - Total revenues in 2026 are expected to increase compared to 2025, driven by growth in rare oncology and epilepsy products, offset by a reduction in oxybate revenues [495]. - Cost of product sales increased in 2025 compared to 2024, with a gross margin of 87.5% in 2025, down from 88.3% in 2024 [496]. - Selling, general and administrative expenses increased by $233.5 million due to Xyrem antitrust litigation settlements in 2025 [498]. - R&D expenses decreased by $101.3 million in 2025 compared to 2024, totaling $782.7 million, primarily due to lower costs related to clinical trials [501]. - The company faces competition from generic versions of high-sodium oxybate, with Amneal and Hikma launching their AG products, which could negatively impact Xywav and Xyrem sales [469][472]. - The commercial success of Epidiolex/Epidyolex is uncertain, with potential competition from generic products and non-FDA approved CBD preparations [475]. Acquisitions and Strategic Moves - Chimerix Acquisition completed for $944.2 million, adding Modeyso to the oncology portfolio, which received FDA accelerated approval in August 2025 for treating H3 K27M mutation glioma [449]. - The company received FDA approval for Modeyso in August 2025 for treating diffuse midline glioma with H3 K27M mutation, following the acquisition of Chimerix [470]. - The company has entered into agreements with major PBMs in the U.S. to support the commercialization of Xywav [444]. - The New Repurchase Program authorized by the board allows for the repurchase of ordinary shares up to $500.0 million, replacing the previous program of $1.5 billion [512]. - In 2024, the company repurchased 2.8 million ordinary shares for a total of $311.4 million, with an average purchase price of $110.06 per share [512]. Cash Flow and Debt Management - Net cash provided by operating activities decreased by $40.1 million in 2025 to $1,355.8 million, primarily due to $323.5 million in litigation settlement expenses [515]. - Net cash used in investing activities increased by $1.0 billion in 2025 compared to 2024, driven by significant acquisitions and investments [517]. - The company reported a net cash outflow of $873.4 million from financing activities in 2025, a decrease of $893.9 million compared to 2024 [514]. - The Chimerix Acquisition resulted in an outflow of $858.1 million in 2025, contributing to the increase in investing activities [518]. - As of December 31, 2025, the company had cash, cash equivalents, and investments of $2.4 billion, with a long-term debt principal balance of $5.4 billion [507]. - The interest rate on the Tranche B-2 Dollar Term Loans was 5.97% as of December 31, 2025, with an effective interest rate of 8.32% [523]. - The company issued $1.0 billion principal amount of 2030 Notes in September 2024, with an interest rate of 3.125% per year [532]. - The Amended Revolving Credit Facility was increased from $500.0 million to $885.0 million in November 2024, extending the maturity date [524]. Tax and Valuation - The income tax benefit was $272.4 million in 2025, primarily due to the reversal of a valuation allowance against certain deferred tax assets [506]. - The company maintains a valuation allowance against certain deferred tax assets where realizability is not certain, evaluating the likelihood of realization periodically [570]. - The company did not recognize an impairment charge related to intangible assets in 2025, 2024, or 2023, indicating stable asset valuations [566]. - As of December 31, 2025, the company had $1.8 billion of goodwill resulting from acquisitions accounted for as business combinations, with no impairment recognized during 2025, 2024, or 2023 [559][566]. - The company reported $4.4 billion of finite-lived intangible assets as of December 31, 2025, with $3.2 billion related to the Epidiolex intangible asset and $0.9 billion related to the Vyxeos intangible asset [565]. Foreign Exchange and Risk Management - The company has significant operations in Europe and the U.S., exposing it to foreign currency exchange risk as financial statements of foreign subsidiaries are translated to U.S. dollars [578]. - A hypothetical 10% strengthening or weakening in exchange rates for sterling and euro would impact net income by $63.7 million and $6.9 million, respectively [579]. - As of December 31, 2025, the company held foreign exchange forward contracts with notional amounts totaling $575.9 million [580]. - The net asset fair value of outstanding foreign exchange forward contracts was $2.5 million as of December 31, 2025 [580]. - A hypothetical 10% adverse fluctuation in exchange rates would decrease the fair value of foreign exchange forward contracts by $21.1 million [580]. - The company has entered into foreign exchange forward contracts to manage currency risk, primarily related to sterling and euro denominated net monetary liabilities [580].

PharmaceuticalsJazz Pharmaceuticals plc (NASDAQ: JAZZ) is a global biopharma company whose purpose is to innovate to transform the lives of patients and their families. We are dedicated to developing life-changing medicines for people with rare disease — often with limited or no therapeutic options. We have a diverse portfolio of medicines, including leading therapies addressing epilepsies, cancers and sleep disorders. Our patient-focused and science-driven approach powers pioneering research and developmen ...

Wall Street analysts forecast that Jazz Pharmaceuticals (JAZZ) will report quarterly earnings of $6.62 per share in its upcoming release, pointing to a year-over-year increase of 0.3%. It is anticipated that revenues will amount to $1.18 billion, exhibiting an increase of 8.4% compared to the year-ago quarter.The consensus EPS estimate for the quarter has undergone a downward revision of 13% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have re ...

Core Insights - Jazz Pharmaceuticals plc will participate in two upcoming investor conferences, including the TD Cowen 46th Annual Health Care Conference on March 3, 2026, and the Barclays 28th Annual Global Healthcare Conference on March 12, 2026 [1] Company Overview - Jazz Pharmaceuticals is a global biopharma company focused on innovating to transform the lives of patients with rare diseases, often providing limited or no therapeutic options [1] - The company has a diverse portfolio of medicines targeting conditions such as epilepsies, cancers, and sleep disorders [1] - Jazz is headquartered in Dublin, Ireland, and operates research and development laboratories, manufacturing facilities, and employs staff in multiple countries [1]

Core Insights - Artios Pharma Limited has appointed three senior leaders to enhance its late-stage development capabilities and prepare for commercial readiness, including Roy W. Ware as Chief Manufacturing and Technology Officer, Caryn Barnett as Vice President of Clinical Operations, and Pablo Lee as Vice President of Medical Affairs [1][6] Group 1: Leadership Appointments - Roy W. Ware, PhD, MBA, brings over 20 years of experience in CMC strategy, manufacturing, and global supply chain leadership, previously serving at Chimerix where he oversaw FDA submissions for Tembexa® and Modeyso® [3] - Caryn Barnett has over 30 years of experience in biopharmaceuticals, having led late-phase oncology programs through registration and approval, including Cyramza® and Verzenio® [4] - Pablo Lee, MD, MBA, has more than 25 years of experience in medical practice and global medical affairs, previously involved in the launch planning of Modeyso® and has held senior roles at Eli Lilly [5] Group 2: Company Focus and Pipeline - Artios Pharma is focused on developing new classes of medicines that target DNA Damage Response (DDR) pathways, with a mission to deliver meaningful survival benefits for cancer patients [7] - The company is advancing its lead program, alnodesertib, into late-stage development and potential commercialization in the U.S., while also executing a Phase 2 study for ART6043 [1][2]

Core Viewpoint - Investors in Jazz Pharmaceuticals plc (JAZZ) should closely monitor the stock due to significant movements in the options market, particularly the Mar 20, 2026 $55.00 Put which has shown high implied volatility [1] Company Analysis - Jazz Pharmaceuticals holds a Zacks Rank 3 (Hold) in the Medical - Biomedical and Genetics Industry, which is positioned in the top 36% of the Zacks Industry Rank [3] - Over the past 60 days, four analysts have raised their earnings estimates for the current quarter, while none have decreased their estimates, resulting in a Zacks Consensus Estimate increase from $6.46 to $6.62 per share [3] Options Market Insights - The high implied volatility surrounding Jazz Pharmaceuticals suggests that options traders anticipate a significant price movement, potentially indicating an upcoming event that could lead to a major rally or sell-off [2] - Options traders often seek high implied volatility options to sell premium, a strategy that aims to benefit from the decay of options value, hoping that the underlying stock does not move as much as expected by expiration [4]

Core Viewpoint - Jazz Pharmaceuticals plc will report its fourth quarter and full year 2025 financial results on February 24, 2026, after U.S. market close, with a subsequent webcast for discussion and updates [1] Company Overview - Jazz Pharmaceuticals is a global biopharma company focused on innovating to transform the lives of patients with rare diseases, often providing limited or no therapeutic options [1] - The company has a diverse portfolio of medicines targeting conditions such as epilepsies, cancers, and sleep disorders, emphasizing a patient-focused and science-driven approach [1] - Jazz Pharmaceuticals is headquartered in Dublin, Ireland, with research and development labs, manufacturing facilities, and employees across multiple countries [1]

Core Insights - ALX Oncology announced new data from a Phase 1b/2 clinical trial evaluating the CD47-inhibitor evorpacept in combination with Jazz Pharmaceuticals' ZIIHERA® for metastatic breast cancer, reinforcing CD47 as a predictive biomarker for treatment response [1][2] Group 1: Clinical Trial Findings - The Phase 1b/2 trial demonstrated promising anti-tumor activity and a manageable safety profile in heavily pretreated HER2-positive breast cancer patients, with a median of six prior therapies [2] - The combination treatment achieved a confirmed objective response rate (cORR) of 56% (5 out of 9 patients) and a median progression-free survival (mPFS) of 7.4 months [2] - Additional exploratory analysis indicated that responses were largely restricted to patients with higher CD47 expression, supporting findings from the ASPEN-06 trial [3] Group 2: Future Directions - The company plans to adopt a biomarker-driven approach for patient selection in future trials involving evorpacept and HER2-targeted agents [2] - Full biomarker analysis from the Phase 1b/2 trial has been submitted for presentation at an upcoming scientific congress [4] Group 3: Company Overview - ALX Oncology is a clinical-stage biotechnology company focused on developing novel therapies for cancer treatment, with evorpacept as a lead candidate [5] - The company is also advancing a second pipeline candidate, ALX2004, which is currently in a Phase 1 trial for EGFR-expressing solid tumors [5]

Core Insights - ALX Oncology announced new data from a Phase 1b/2 clinical trial evaluating the investigational CD47-inhibitor evorpacept in combination with Jazz Pharmaceuticals' ZIIHERA® for metastatic breast cancer, reinforcing CD47 as a predictive biomarker for treatment response [1][2] Company Overview - ALX Oncology is a clinical-stage biotechnology company focused on developing novel therapies for cancer treatment, with its lead candidate evorpacept showing potential as a cornerstone therapy in immuno-oncology [5] Clinical Trial Findings - The Phase 1b/2 trial demonstrated promising anti-tumor activity and a manageable safety profile, with a confirmed objective response rate of 56% and a median progression-free survival of 7.4 months in heavily pretreated HER2-positive breast cancer patients [2][3] - Additional exploratory analysis indicated that responses were primarily observed in patients with higher CD47 expression, supporting the predictive biomarker role of CD47 [3] Future Directions - The company plans to adopt a biomarker-driven approach for patient selection in future trials, particularly for combinations of evorpacept with HER2-targeted agents, and is confident in the ongoing ASPEN-09-Breast Phase 2 trial [2]