Business
Jazz Pharmaceuticals Announces First Quarter 2020 Financial Results
Total Revenues Increased 5% to $535 Million Compared to First Quarter 2019 Strong Xyrem Net Revenues of $408 Million, an Increase of 11% Compared to First
About this update from Jazz Pharmaceuticals Plc
[{"type":"text","content":"Total Revenues Increased 5% to $535 Million Compared to First Quarter 2019\n Strong Xyrem Net Revenues of $408 Million, an Increase of 11% Compared to First Quarter 2019\n Cash from Operations Exceeded $270 Million; Cash and Investments of $1 Billion at Quarter End\n Received Priority Review and PDUFA Action Date of July 21, 2020 for JZP-258 for the Treatment of Cataplexy and Excessive Daytime Sleepiness in Narcolepsy; Expected Launch As Early As Fourth Quarter\n Transaction for Exclusive U.S. Rights to Lurbinectedin Completed\n Lurbinectedin Received Priority Review and PDUFA Action Date of August 16, 2020 for the Treatment of Relapsed Small Cell Lung Cancer; Expected Launch by Third Quarter\n 2020 Full-Year Revenue Guidance Reduced Due to Anticipated Impact of the COVID-19 Pandemic\n\n\nDUBLIN, May 5, 2020 /PRNewswire/ -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ) today announced financial results for the first quarter of 2020 and updated 2020 financial guidance.\n\"During this unprecedented time, I am proud of the commitment of our Jazz employees to supporting the continued delivery of our essential medicines to patients around the world,\" said Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals. \"Based on these efforts, we generated revenues of $535 million in the first quarter and continued to make progress toward our key 2020 objectives. JZP-258 and lurbinectedin received priority review with PDUFA action dates in the third quarter and, if approved, provide us the opportunity to deliver two new important treatment options to patients as early as the second half of this year. Following the EMA approval this January, we are poised to commence the rolling launch of Sunosi in Europe, beginning in Germany this month. In addition, we progressed patient enrollment in our pivotal study of JZP-458 and completed enrollment in our Phase 3 study of JZP-258 in idiopathic hypersomnia.\"\n\"Although we experienced limited financial impact of COVID-19 in the first quarter, we have updated our financial guidance to reflect the potential impact on our business for the remainder of 2020. We are proactively managing our operating expenses and prioritizing investments in our most important current and future revenue drivers,\" continued Mr. Cozadd. \"We are excited about the opportunities ahead for Jazz and remain focused...