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Jazz Pharmaceuticals Announces Second Quarter 2024 Financial Results and Updates 2024 Financial Guidance
– 15% year-over-year revenue increase from combined key growth drivers: Xywav®, Epidiolex® and Rylaze® –– Oncology revenues grew 10% year-over-year ––
About this update from Jazz Pharmaceuticals Plc
[{"type":"text","content":"– 15% year-over-year revenue increase from combined key growth drivers: Xywav®, Epidiolex® and Rylaze® –– Oncology revenues grew 10% year-over-year –– Zanidatamab granted Priority Review by U.S. FDA for 2L BTC; PDUFA date of November 29, 2024 –– Near-term, late-stage pipeline catalysts anticipated through 2025 –– Narrowing 2024 total revenue guidance to $4.0 to $4.1 billion –– Affirming GAAP and non-GAAP adjusted net income guidance –\nDUBLIN, July 31, 2024 /PRNewswire/ -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ) today announced financial results for the second quarter of 2024 and updated guidance for 2024.\n\"Jazz's record revenues of over $1 billion in the second quarter were driven by strong execution and increased demand for our key growth drivers, Xywav, Epidiolex and Rylaze. Our launch preparations are well underway for zanidatamab, which was recently granted Priority Review in BTC, and we are pleased to have initiated the Phase 3 EmpowHER trial in HER2-positive breast cancer in patients whose disease has progressed after T-DXd treatment,\" said Bruce Cozadd, chairman and chief executive officer, Jazz Pharmaceuticals. \"Based on projections for the remainder of the year, we are narrowing and maintaining the mid-point of our Neuroscience guidance and lowering our Oncology guidance. Importantly, our Oncology guidance still includes double-digit growth at the mid-point and we continue to expect double-digit growth from our combined key growth drivers in 2024.\"\nKey Highlights\nKey growth drivers:Xywav net product sales grew 13% year-over-year.Epidiolex/Epidyolex® net product sales grew 22% year-over-year.Rylaze/Enrylaze® net product sales grew 6% year-over-year.Zanidatamab:Granted Priority Review by U.S. FDA for 2L BTC; MAA validated by EMA.Initiated Phase 3 EmpowHER trial in late-line HER2+ breast cancer.Near-term, late-stage pipeline catalysts anticipated:Top-line data from Epidyolex Phase 3 trial in Japan in 2H24.Top-line data from Zepzelca® 1L SCLC Phase 3 trial by the end of 2024.Top-line PFS data from zanidatamab in Phase 3 1L GEA estimated to be 2Q25.2024 Financial Guidance:Narrowing 2024 total revenue guidance range to $4.0 to $4.1 billion.Narrowing Neuroscience guidance to $2.825 to $2.925 billion.Lowering Oncology guidance to $1.10 to $1.15 billion.Affirming GAAP net income guidance of $385 to $530 million and non-G...