Jazz Pharmaceuticals Plc · NASDAQ:JAZZ
Jazz Pharmaceuticals — Q1 2021 Earnings Presentation
24 slides from Jazz Pharmaceuticals's earnings presentation, May 4, 2021
Slide 1: First Quarter 2021 Financial Results
FIRST QUARTER 2021 FINANCIAL RESULTS MAY 4, 2021 Sara © 2021 Jazz Pharmaceuticals. All rights reserved. JZP258 Trial Participant
Slide 2: Forward-Looking Statements
Life-Changing Medicines. Redefining Possibilities. Forward-Looking Statements “Safe Harbor" Statement Under The Private Securities Litigation Reform Act of 1995 This communication contains forward-looking statements regarding Jazz Pharmaceuticals and GW Pharmaceuticals, including, but not limited to
Slide 3: Non-GAAP Financial Measures
Life-Changing Medicines. Redefining Possibilities. Non-GAAP Financial Measures To supplement Jazz Pharmaceuticals’ financial results and guidance presented in accordance with U.S. generally accepted accounting principles (GAAP), the company uses certain non-GAAP (also referred to as adjusted or non-
Slide 4: Introduction and Overview
INTRODUCTION AND OVERVIEW BRUCE COZADD CHAIRMAN AND CHIEF EXECUTIVE OFFICER
Slide 5: Focused Execution Drives Long-Term Value
Focused Execution Drives Long-Term Value Significant Execution Upcoming Value Drivers • Announced definitive agreement to acquire GW • Creates a leader in neuroscience with a global commercial • On track to close deal in early May and operational footprint well positioned to maximize value • Secured
Slide 6: Commercial Performance
COMMERCIAL PERFORMANCE DAN SWISHER PRESIDENT AND CHIEF OPERATING OFFICER
Slide 7: Significant Momentum: Neuroscience Portfolio
Significant Momentum: Neuroscience Portfolio OXYBATE • Net product sales of $411M, an • Net product sales of $75M in 1Q21 • Net product sales of $12M, increase of 1% compared to 1Q20 • ~3,900 active patients exiting 1Q21 compared to $2M in 1Q20 and • Average active patients $9M in 4Q20 • Strong adop
Slide 8: Executing a Successful Xywav Launch
Executing a Successful Xywav Launch Launched November 2020 for the treatment of cataplexy or excessive daytime sleepiness in narcolepsy SODIUM MATTERS DAILY SODIUM LEVEL (MG) • Xywav is the only approved lower-sodium oxybate 1,100 - 1,640 • 92% less sodium than Xyrem (sodium oxybate); reduction of 1
Slide 9: Delivering Meaningful Growth: Oncology Portfolio
Delivering Meaningful Growth: Oncology Portfolio ASPARAGINASE • Strong uptake following • Net product sales of • Net product sales of JZP4581 July 2020 launch — net $33M in 1Q21, an $50M in 1Q21, an Targeting U.S. launch in product sales of $54M increase of 1% increase of 5% mid-2021 — commercial in
Slide 10: Research & Development
RESEARCH & DEVELOPMENT ROBERT IANNONE, M.D., M.S.C.E. EXECUTIVE VICE PRESIDENT, RESEARCH & DEVELOPMENT AND CHIEF MEDICAL OFFICER
Slide 11: Xywav - Breaking New Ground in Idiopathic Hypersomnia
Xywav - Breaking New Ground in Idiopathic Hypersomnia Priority Review and August 12, 2021 PDUFA Action Date - Target Launch 4Q211 • sNDA accepted by the FDA on Consumed by sleep April 13, 2021 IMPACTS • Granted Priority Review Designation • Reduced job performance and career Sleep inertia • PDUFA ta
Slide 12: Concept to Approval Capability: Oncology R&D
Concept to Approval Capability: Oncology R&D JZP458 • Expect to initiate Phase 3 trial for • BLA submission initiated in 4Q20 • FDA approved new indication for Zepzelca in combination with under RTOR newly-diagnosed therapy-related immunotherapy in 1L ES-SCLC • Targeting U.S. launch in mid-20211 AML
Slide 13: Financial Update
FINANCIAL UPDATE RENÉE GALÁ EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
Slide 14: Financial Performance
Financial Performance Strong 1Q21 Performance, Driven Significant Xywav Adoption and Continued Zepzelca Growth TOTAL REVENUES CASH FROM OPERATIONS NON-GAAP ANI1 Increased 14% Vs 1Q20 (absolute, and per-share) 23% net product sales from products launched since 2019 Maintaining strong cash generation
Slide 15: GW Transaction Expected to Deliver Substantial and Sustainable Value
GW Transaction Expected to Deliver Substantial and Sustainable Value Disciplined Allocation of Capital in Alignment With Our Strategic Priorities ALIGNED TO CAPITAL LEVERAGING FINANCIAL DISCIPLINED USE OF CAPITAL ALLOCATION STRATEGY STRENGTH $2.4B Expect to be EPS accretive Accelerates revenue growt
Slide 16: 2021 Goals
2021 Goals Aligned to Patient-Centric Strategy and Key Objectives PATIENT-CENTRIC CONTINUED COMMERCIAL ROBUST AND INNOVATION DRIVES OUR EXECUTION EXCELLENCE PRODUCTIVE PIPELINE STRATEGY Innovate to transform the lives Targeted launches Key Pipeline Milestones of patients • JZP458 in ALL/LBL mid-year
Slide 17: Appendix
APPENDIX
Slide 18: Delivering Meaningful Shareholder Value
Delivering Meaningful Shareholder Value Patient-Centric Experienced Leadership Strong Financial and High Value Neuroscience Innovation to Drive Team to Execute on Operational Track and Oncology Products Our Strategy Strategy and Deliver Record Generating Poised for Continued Value >$2B in Annual Rev
Slide 19: Oxybate: Durable Revenues and Growth Opportunities
Oxybate: Durable Revenues and Growth Opportunities Future oxybate revenue streams and growth driven by Xywav adoption Oxybate History The Future of Oxybate Adopted by ~3,9003 patients in the Existing Narcolepsy Market first five months of launch 2020 sales over $1.7B ~15,0001 patients Over more than
Slide 20: Significant Product Diversification Expected from New Product Growth and GW
Significant Product Diversification Expected to be Driven by New Product Growth and GW: 5 Key Product Launches PRODUCTS / LAUNCH FUTURE PRODUCTS STATUS SOURCE OF OPERATING LEVERAGE • Utilizes Jazz’s established REMS, exclusive pharmacy relationships and has the same physician call point Neuroscience
Slide 21: GW Transaction Accelerates Growth and Enhances Diversification
GW Transaction Accelerates Growth and Enhances Diversification INCREASED SCALE IMMEDIATE, ENHANCED DIVERSIFICATION Total revenue ($B) Revenue contribution 100% 75% $2.9 50% JZP4583 Xywav in IH3 25% 2020PF 1 2025PF 2 0% 2020 2022E 2022E-PF Products Acquired or Launched Since 2019 Accelerated, Double-
Slide 22: Robust and Productive Pipeline for Sustainable Growth
Robust and Productive Pipeline for Sustainable Growth Targeted Investments Designed to Fuel Growth Through 2025 and Beyond PRE-CLINICAL PHASE 1 PHASE 2 PHASE 3 REGULATORY Undisclosed targets JZP324 JZP3854 Vyxeos JZP258 (Xywav) Neuroscience Oxybate extended-release formulation Essential tremor (Phas
Slide 23: Reconciliation of GAAP Reported to Non-GAAP Adjusted Net Income
Reconciliation of GAAP Reported to Non-GAAP Adjusted Net Income In millions, except per share amounts 1Q21 1Q20 (unaudited) GAAP reported net income (loss) $121.8 $(157.8) Intangible asset amortization 68.2 62.8 Share-based compensation expense 34.5 28.7 Transaction-related expenses1 8.3 - Non-cash
Slide 24: Glossary of Terms
Glossary of Terms 1L / 2L = 1st Line / 2nd Line I/O = Immuno-Oncology AAN = American Academy of Neurology IPR&D = In-process Research and Development AGs = Authorized Generics IV = Intravenous AHA = American Heart Association LBL = Lymphoblastic Lymphoma ALL = Acute Lymphoblastic Leukemia MDS = Myel