Jazz Pharmaceuticals Announces Second Quarter 2022 Financial Results and Affirms 2022 Financial Guidance

About this update from Jazz Pharmaceuticals Plc

[{"type":"text","content":"DUBLIN, Aug. 3, 2022 /PRNewswire/ -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ) today announced financial results for the second quarter of 2022, affirmed 2022 financial guidance1 and provided business updates.\n\"We've had a highly productive second quarter across commercial, R&D and corporate development that has resulted in meaningful progress towards Vision 2025. We have also achieved an important milestone and for the first time there are now more patients taking Xywav® than Xyrem®,\" said Bruce Cozadd, chairman and CEO of Jazz Pharmaceuticals. \"Execution remains our primary focus as we aim to maximize the value of Xywav in idiopathic hypersomnia (IH) and narcolepsy, grow Epidiolex® in the U.S. and expand the launch of Epidyolex® globally, build on the successful launch of Rylaze® and progress the development program for Zepzelca®. We are also advancing a number of mid- and late-stage programs in our pipeline with multiple Investigational New Drug (IND) applications expected through 2023, and are pleased our pan-RAF inhibitor, JZP815, was cleared by the FDA to enter clinical development.\"\n\"We have achieved our net leverage2 ratio target ahead of our stated timeline and therefore our focus will be to continue to manage the balance sheet through disciplined capital allocation, providing us with further flexibility to pursue corporate development opportunities,\" said Renée Galá, executive vice president and chief financial officer of Jazz Pharmaceuticals. \"Our strong second quarter financial results and top- and bottom-line growth put us well on track to achieve our 2022 financial guidance. Operational excellence will also remain a key area of focus for us as we build the foundation for future growth and progress toward achieving Vision 2025.\"\nKey Highlights\nBusiness and Execution\nContinued robust launch momentum of Xywav for IH.Achieved a significant milestone in 2Q22, with more active oxybate patients taking Xywav than Xyrem.Completed Marketing Authorization Application (MAA) submission for JZP458 (approved as Rylaze in the U.S.) to European Medicines Agency (EMA) in May 2022, with potential for approval in 2023.Announced the U.S. Food and Drug Administration (FDA) cleared the IND application that will allow JZP815 to enter clinical development.Strengthened leadership in sleep medicine with addition of a potent, highl...

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