Jazz Pharmaceuticals (JAZZ) Tops Q1 EPS by 21c

Jazz Pharmaceuticals (NASDAQ: JAZZ) reported Q1 EPS of $3.92, $0.21 better than the analyst estimate of $3.71. Revenue for the quarter came in at $607.58 million versus the consensus estimate of $608.24 million.

"Demand for Xywav is strong, as both patients and physicians embrace the health benefits associated with reducing daily sodium intake. We also continue to see robust uptake of Zepzelca among both platinum-resistant and platinum-sensitive small cell lung cancer patients, consistent with the positive feedback we\'ve received on its profile," said Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals. "We are on track to deliver significant revenue growth and diversification in 2022, are poised for two additional product launches this year and look forward to completing the acquisition of GW Pharmaceuticals this month, all key milestones in our transformation to an innovative biopharmaceutical company and neuroscience leader."

Robert Iannone, M.D., M.S.C.E., executive vice president, research and development and chief medical officer, added, "Across our R&D organization, we\'ve continued our track record of strong execution. We presented positive Xywav data in idiopathic hypersomnia (IH) at the American Academy of Neurology Annual Meeting. We are also pleased to have announced that FDA granted priority review of Xywav in IH with a PDUFA goal date set for August 12, 2021, bringing us another step closer to delivering this important treatment to patients with IH, for whom there is currently no FDA-approved therapy. Further, our JZP458 program remains on track with a potential approval in mid-2021. I\'m proud that our continued execution enables us to bring life-changing medicines to often overlooked patient groups with significant unmet need."

GUIDANCE:

Jazz Pharmaceuticals sees FY2021 EPS of $15.65-$16.86, versus the consensus of $16.39. Jazz Pharmaceuticals sees FY2021 revenue of $2.55-2.7 billion, versus the consensus of $2.65 billion.

For earnings history and earnings-related data on Jazz Pharmaceuticals (JAZZ) click here.

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