Business
Jazz Pharmaceuticals Provides COVID-19 Business Update
DUBLIN, March 31, 2020 /PRNewswire/ -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ) today provided an update regarding the impact of COVID-19 on its business and
About this update from Jazz Pharmaceuticals Plc
[{"type":"text","content":"DUBLIN, March 31, 2020 /PRNewswire/ -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ) today provided an update regarding the impact of COVID-19 on its business and the actions it is taking to mitigate the spread of this virus.\n\"Jazz provides essential medicines to patients around the world and we are committed to delivering on this important mission. We have implemented a robust continuity plan to address the impact of COVID-19 on our business. We are highly focused on ensuring patients have access to our medicines and protecting the health and safety of our employees and the communities in which we operate,\" said Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals. \"The company is in a strong financial position, having entered the year with over $1 billion in cash and investments and access to significant additional liquidity. Our financial strength prepares us to navigate through this pandemic while continuing to execute on our key strategic objectives to support our long-term growth.\"\nJazz sees a limited financial impact today, given its portfolio of differentiated products addressing chronic and life-threatening diseases. However, given the global economic slowdown, reduced field-based interactions with healthcare professionals and the uncertainty surrounding the scale and duration of the pandemic, the company, at this time, cannot rule out future impact on its business and associated guidance. Jazz expects to provide an update on all key business areas during its first quarter 2020 financial results in early May. \nThe company will continue to closely monitor COVID-19 in order to make timely, informed decisions, in an effort to minimize the impact to key business areas. \nEmployees and Communities\nJazz supports broad public health strategies designed to prevent the spread of COVID-19 and is focused on the health and welfare of its employees. In accordance with guidance issued by the Centers for Disease Control and Prevention, the World Health Organization and local authorities, beginning on March 16 the company's global workforce began working remotely, including the suspension of work-related travel and in-person customer interactions. Field sales force, market access and reimbursement, and medical support employees are utilizing telephone and web-based means to continue to engage healthcare professi...