Business
Jazz Pharmaceuticals Announces Full Year and Fourth Quarter 2022 Financial Results and Provides 2023 Financial Guidance
Strong Execution Drove Record Revenues in 2022 of $3.7 billion, an increase of 18% over 2021Positioned for Total Revenue and Net Income Growth in 2023 Xywav
About this update from Jazz Pharmaceuticals Plc
[{"type":"text","content":"Strong Execution Drove Record Revenues in 2022 of $3.7 billion, an increase of 18% over 2021Positioned for Total Revenue and Net Income Growth in 2023 Xywav Enters 2023 as the Oxybate Therapy of Choice and Company's Largest Product by Net SalesEnhanced Investment in R&D to Advance Pipeline towards Key Value Inflection Points in 2023 and 2024Company is Well-Positioned to Achieve Vision 2025\nDUBLIN, March 1, 2023 /PRNewswire/ -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ) today announced financial results for the full year and fourth quarter of 2022 and provided financial guidance for 2023.\n\"2022 was a year of significant execution across our business that exemplified our purpose to innovate to transform the lives of patients and their families and advanced Jazz towards achieving Vision 2025. Our substantial top-line growth was led by the strength of our commercial franchises, including the continued adoption of Xywav® across both narcolepsy and idiopathic hypersomnia (IH), meaningful Epidiolex® growth, and robust demand for Rylaze®, driven by critical unmet patient need,\" said Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals. \"In addition to achieving considerable revenue growth in 2022, we generated $1.3 billion in cash from operations and significantly improved our operational efficiency in line with our objectives for Vision 2025. Our strong financial performance, alongside a more disciplined approach to capital allocation, allowed us to delever our balance sheet six months ahead of our stated target, while investing in multiple strategic transactions that have the potential to create meaningful long-term value for patients and shareholders. We are proud of our 2022 accomplishments, which position us in 2023 to grow our top-line revenues through continued commercial execution, enhance our pipeline investments in innovation, and demonstrate continued progress towards achieving Vision 2025.\"\n\"Building on several transformative years for R&D at Jazz, we have enhanced the breadth and depth of our pipeline, as well as our capabilities. In 2022, we added three promising candidates to our pipeline: zanidatamab, a late-stage novel HER2-targeted bispecific antibody with biparatopic binding, JZP441, an orexin-2 receptor agonist, and JZP898, a differentiated, conditionally-activated interferon alpha (IFNα) I...