Business
Jazz Pharmaceuticals Announces First Quarter 2023 Financial Results and Affirms 2023 Financial Guidance
Focus on commercial execution drove 1Q23 total revenues of $892.8 millionContinued adoption of Xywav®; net product sales increased 49% 1Q23 compared to
About this update from Jazz Pharmaceuticals Plc
[{"type":"text","content":"Focus on commercial execution drove 1Q23 total revenues of $892.8 millionContinued adoption of Xywav®; net product sales increased 49% 1Q23 compared to 1Q22Confident in blockbuster potential of Epidiolex®; net product sales increased 20% 1Q23 compared to 1Q22Strong Rylaze® demand drove 58% increase in net product sales 1Q23 compared to 1Q22Enhanced pipeline positioned to deliver at least three late-stage data readouts by the end of 2024\nDUBLIN, May 10, 2023 /PRNewswire/ -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ) today announced financial results for the first quarter of 2023, affirmed 2023 financial guidance and provided business updates.\n\"This quarter, we once again delivered strong commercial results, advanced our efforts to unlock the tremendous potential of our pipeline and built on our record of driving operational excellence. On the commercial front, key products launched over the past several years are demonstrating impressive and durable performance with Xywav annualizing at more than $1 billion and our oncology therapeutic area approaching $1 billion in annual revenue, driven by Rylaze and Zepzelca®. Adoption of low-sodium Xywav continues to grow across both narcolepsy and idiopathic hypersomnia (IH), and we expect Xywav to remain the oxybate of choice in 2023. We remain confident in the blockbuster potential of Epidiolex/Epidyolex® and its significant additional growth opportunities, and we look forward to continued strong in-person engagement with customers globally,\" said Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals. \"Our strong execution and robust pipeline position us well to achieve Vision 2025 and create meaningful value for our shareholders.\"\n\"Our enhanced pipeline is positioned to deliver at least three late-stage data readouts by the end of 2024, including JZP150 in post-traumatic stress disorder (PTSD), suvecaltamide in essential tremor (ET) and zanidatamab in first-line gastroesophageal adenocarcinoma (1L GEA),\" said Rob Iannone, M.D., M.S.C.E., executive vice president, global head of research and development of Jazz Pharmaceuticals. \"These late-stage trials are exploring new therapies with the potential to transform the lives of patients affected by diseases where substantial unmet medical need remains.\"\nKey Highlights\nContinued confidence that low-sodium Xywav wi...