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Jazz Pharmaceuticals Announces First Quarter 2024 Financial Results and Affirms 2024 Financial Guidance
– 12% year-over-year revenue increase from combined key growth drivers: Xywav®, Epidiolex® and Rylaze® –– Oncology revenues grew 13% year-over-year ––
About this update from Jazz Pharmaceuticals Plc
[{"type":"text","content":"– 12% year-over-year revenue increase from combined key growth drivers: Xywav®, Epidiolex® and Rylaze® –– Oncology revenues grew 13% year-over-year –– Submitted zanidatamab BLA for 2L BTC; expect to launch in 2025 or earlier –– Top-line Phase 2b data from suvecaltamide trial in essential tremor expected in late 1H24 –– 2024 total revenue guidance affirmed at $4.0 to $4.2 billion –\nDUBLIN, May 1, 2024 /PRNewswire/ -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ) today announced financial results for the first quarter of 2024 and affirmed guidance for 2024.\n\"In the first quarter of 2024, we delivered combined double-digit year-over-year growth from our key growth drivers: Xywav, Epidiolex and Rylaze. We also significantly advanced our zanidatamab program with the completion of the BLA for 2L BTC,\" said Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals. \"We believe the robust growth in patients benefitting from Xywav underscores the appreciation physicians and patients have for the long-term health benefits of reducing sodium and expect Xywav to remain the oxybate of choice. We see continued demand for Rylaze as the only non-E. coli asparaginase regimen that provides sustained activity throughout the course of treatment, and we expect continued growth of Epidiolex to be driven by geographic expansion, optimized dosing and data demonstrating its beyond-seizure benefits. Growing and durable revenues from Xywav, Epidiolex and Rylaze, coupled with our pipeline progress, drive our confidence in delivering on our guidance and objectives for 2024.\"\nKey Highlights\nKey growth drivers:Xywav net product sales grew 14% year-over-year.Epidiolex/Epidyolex® net product sales grew 5% year-over-year.Rylaze/Enrylaze® net product sales grew 20% year-over-year.Zanidatamab:Completed the zanidatamab BLA submission seeking accelerated approval in 2L BTC.Updated data with longer follow-up, including overall survival (OS) findings, from the HERIZON-BTC-01 trial will be presented at ASCO Annual Meeting 2024.Plan to initiate Phase 3 EMPOWHER trial in late-line HER2+ breast cancer in 2H24.Multiple near-term, late-stage pipeline catalysts anticipated:Suvecaltamide top-line data from Phase 2b trial in ET in late 1H24.Top-line data from Epidyolex Phase 3 trial in Japan in 2H24.Top-line PFS data from zanidatamab in Phase 3 1L GEA target...