Jazz Pharmaceuticals plc JAZZ reported record third-quarter revenue of $1.05 billion on Wednesday afternoon, up 14% year-over-year, propelled by strong sales of key therapies like Xywav, Epidiolex and Rylaze.
The gross margin held steady at 89%. CEO Bruce Cozadd said Jazz remains “confident in its revenue guidance of $4.0 to $4.1 billion” for the full year.
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Net Income Boosted By Adjusted Expenses
The company generated net income in the range of $430 to $550 million, increasing its GAAP EPS guidance to between $6.70 and $8.50. Jazz also adjusted its R&D expense forecast, reflecting strategic prioritization within its pipeline, notably the anticipated fourth-quarter launch of zanidatamab for 2L BTC, a significant step in oncology.
Liquidity And Debt Management
With $2.6 billion in cash and investments, Jazz maintains $500 million in undrawn credit. Jazz repaid $575 million in senior notes due 2024, illustrating its disciplined debt management. The company reported that its financial and product strategies are expected to drive growth in critical therapeutic areas, enhancing long-term shareholder value.
Price Action: Jazz Pharmaceuticals shares remained relatively stable, closing at $111.55 with a slight gain of 0.11%
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