Jazz Pharmaceuticals Plc · NASDAQ:JAZZ
Jazz Pharmaceuticals — Q4 2025 Earnings Presentation
29 slides from Jazz Pharmaceuticals's earnings presentation, Feb 24, 2026
Slide 1: 2025 Fourth Quarter and Full Year Financial Results
February 24, 2026 2025 Fourth Quarter and Full Year Financial Results Redefining Possibilities in Rare Disease
Slide 2: Caution Concerning Forward-Looking Statements
Transforming Lives. Redefining Possibilities. Caution Concerning Forward-Looking Statements This presentation contains forward-looking statements, including, but not limited to, statements related to: the Company’s growth prospects and future financial and operating results, including the Company’s
Slide 3: Non-GAAP Financial Measures
Transforming Lives. Redefining Possibilities. Non-GAAP Financial Measures To supplement Jazz Pharmaceuticals’ financial results and guidance presented in accordance with U.S. GAAP the Company uses certain non-GAAP (also referred to as adjusted or non-GAAP adjusted) financial measures in this present
Slide 4: Introduction and Overview
Introduction and Overview Renee Gala President and Chief Executive Officer 4 February 24, 2026
Slide 5: Strong Momentum from an Outstanding 2025
Strong Momentum from an Outstanding 2025 Commercial Research and Corporate Corporate Development Development Rapid approval1 with launch Settled outstanding ANDA litigation = exceeding expectations Zanidatamab durability into the very-late 2030’s Acquisition Practice-changing 1L GEA data3 derisks $2
Slide 6: Refined Strategic Focus on Rare Disease
Refined Strategic Focus on Rare Disease Attractive Growth Market That Plays to Jazz’s Strengths Rare Disease High unmet need Small patient populations RARE RARE RARE NEW RARE ONCOLOGY EPILEPSY SLEEP THERAPEUTIC Concentrated call points AREAS Differentiated support services Lower competitive intensit
Slide 7: Strong Corporate Development Track Record in Rare Disease
Strong Corporate Development Track Record in Rare Disease ZEPZELCA GW ACQUISITION ZANIDATAMAB Chimerix Acquisition Rapidly Accretive Transaction Transformational Transaction Significant Oncology Added Neuro-Oncology Development Transaction Expertise • >$1.5B1 in revenue since launch • Durable and lo
Slide 8: Commercial Performance
Commercial Performance Sam Pearce Executive Vice President and Chief Commercial Officer 8 February 24, 2026
Slide 9: Xywav: Differentiated by Low Sodium; IH Provides Growth Opportunity
Xywav: Differentiated by Low Sodium; IH Provides Growth Opportunity • Increase of ~500 net patients QoQ; Xywav revenue grew 12% in 2025 15,675 16,175 Narcolepsy 15,225 14,150 14,600 4,950 5,225 • Xywav remains the #1 branded treatment for narcolepsy2 4,625 4,225 3,900 • Benefits of reducing sodium i
Slide 10: Epidiolex: Durable Growth with High Unmet Need
Epidiolex: Durable Growth with High Unmet Need +9% YoY Epidiolex is the #1 branded epilepsy treatment1 $1,059 • Achieved blockbuster status in 2025 with $1.1 billion revenues $972 +4% YoY Growth opportunities: • Further data generation, including beyond-seizure benefits from the Net product sales ($
Slide 11: Zanidatamab: De-Risked Near-Term Opportunity with $2B+ Peak Potential
Zanidatamab: De-Risked Near-Term Opportunity with $2B+ Peak Potential Goal to be the HER2-targeted agent of choice • Data presented at ASCO GI on January 8, 2026 • Rapid submission to NCCN Guidelines Other HER2-Expressing • Expect to complete sBLA submission for Cancers 1L HER2+ GEA in 1Q26 Breast C
Slide 12: Modeyso: Strong Initial Uptake and Early Launch Success
Modeyso: Strong Initial Uptake and Early Launch Success 1 2 3 Disease State Awareness Branded Campaign Launch Launch Exceeding Expectations & Education Strong HCP engagement CNS WHO Grade 4 glioma1 Driving comprehensive The most aggressive form launch plan of glioma Invariably lethal with rapid mort
Slide 13: Zepzelca: Opportunity to Redefine 1LM ES-SCLC Treatment Paradigm
PIPELINE Zepzelca: Opportunity to Redefine 1LM ES-SCLC Treatment Paradigm -4% YoY FDA approved Zepzelca in combination with Tecentriq as first-line maintenance therapy for ES-SCLC in 4Q25 +15% YoY $320 • Opportunity to redefine the treatment paradigm in 1L maintenance $307 • Included in NCCN Guideli
Slide 14: Research & Development
Research & Development Robert Iannone, M.D., M.S.C.E. Executive Vice President, Global Head of Research & Development, Chief Medical Officer 14 February 24, 2026
Slide 15: Progress Towards Realizing Full Potential of Zanidatamab
Progress Towards Realizing Full Potential of Zanidatamab Data support zanidatamab as standard of care in 1L HER2+ GEA patients regardless of PD-L1 status • Zanidatamab outperformed herceptin across all efficacy measures • Received RTOR and breakthrough therapy designation; expect to complete sBLA su
Slide 16: Broad Zanidatamab Development Program
Broad Zanidatamab Development Program PHASE 1 PHASE 2 PHASE 3 PHASE 4 / REGULATORY Recent / Upcoming Milestones 1L GEA (HERIZON-GEA-01) Expect to complete sBLA submission in 1Q26 1L BTC (HERIZON-BTC-302) 1L BTC confirmatory trial Breast cancer (BC) patients post T-DXd (EmpowHER-BC-303) Anticipate to
Slide 17: Key Pipeline Programs
Key Pipeline Programs Key Clinical Programs PHASE 1 PHASE 2 PHASE 3 PHASE 4 / REGULATORY Recent / Upcoming Milestones 1L GEA (HERIZON-GEA-01) Expect to complete sBLA submission in 1Q26 1L BTC (HERIZON-BTC-302) Breast cancer (BC) patients post T-DXd (EmpowHER-BC-303) Anticipate top-line data late 202
Slide 18: Financial Performance
Financial Performance Phil Johnson Executive Vice President, Chief Financial Officer 18 February 24, 2026
Slide 19: Focus on 2025 Commercial Execution
Focus on 2025 Commercial Execution 4Q25 Total Revenues 2025 Total Revenues Three $1B+ Franchises in 2025: +10% YoY +5% YoY 2025 Revenue 2025 Growth $1.2B $4.3B Rare sleep1 $2.0 billion +5% $4.1B $1.1B Rare epilepsy2 $1.1 billion +9% $993M 48% Rare oncology 3 $941M $1.1 billion +2% $2,335M 43% 4Q24 4
Slide 20: Focus on 2025 Commercial Execution and Disciplined Investment
Focus on 2025 Commercial Execution and Disciplined Investment 2025 Non-GAAP ANI1,3 2025 Non-GAAP EPS1,3 2025 Non-GAAP ANI and EPS Includes: • SG&A expense related to sleep litigation settlements • Acquired IPR&D expense relating to Chimerix Acquisition $1.4B $20.65 and JZP053 (SAN2355) licensing agr
Slide 21: 2026 Guidance; Investing to Drive Growth
2026 Guidance ; Investing to Drive Growth 1 2026 Guidance1 Key assumptions: • Expect double-digit growth for combined rare oncology + epilepsy franchises Total Revenues $4.25 - $4.50B • Expect $1.8 - $1.9B in rare sleep revenue2 • Xywav sales expected to show flat to mid-single digit growth • Higher
Slide 22: Well Positioned to Succeed in Rare Disease
Well Positioned to Succeed in Rare Disease Research and Commercial Corporate Development Development Strong Financial ~$4.3B ~$1.4B ~$2.4B Position Total revenues1 Cash from operations1 Cash, cash equivalents, and investments2 1For the year ended December 31, 2025; 2As of December 31, 2025. 22 Febru
Slide 23: Closing
Closing Renee Gala President and Chief Executive Officer 23 February 24, 2026
Slide 24: Strong Momentum Into 2026
Strong Momentum Into 2026 Research and Commercial Corporate Development Development Zanidatamab Expect to complete sBLA submission in 1Q26 for 1L HER2+ GEA Strong initial launch with full-year of commercial sales in 2026 Identifying and pursuing Potential approval and launch in 1L GEA 2H26 opportuni
Slide 25: Appendix
Appendix 25 February 24, 2026
Slide 26: Glossary
Glossary Acronym Definition Acronym Definition 1L First-line HR Hormone receptor 1LM First-line maintenance IH Idiopathic hypersomnia 2026 Notes Our 2.000% exchangeable senior notes due 2026 IPR&D In-process research and development. 2030 Notes Our 3.125% exchangeable senior notes due 2030 LGS Lenno
Slide 27: Reconciliation of GAAP Reported to Non-GAAP Adjusted Information
Reconciliation of GAAP Reported to Non-GAAP Adjusted Information 1 Three Months Ended December 31, In thousands, except per share amounts 2025 2024 (unaudited) Net Income Diluted EPS Net Income Diluted EPS GAAP reported $203,451 $3.21 $191,115 $3.11 Intangible asset amortization 169,742 2.68 158,903
Slide 28: Reconciliation of GAAP Reported to Non-GAAP Adjusted Information
Reconciliation of GAAP Reported to Non-GAAP Adjusted Information 1 Year Ended December 31, In thousands, except per share amounts 2025 2024 (unaudited) Net Income Diluted Net Income (Loss) Diluted EPS3 EPS/(LPS) GAAP reported2 $(356,148) $(5.84) $560,120 $8.65 Intangible asset amortization 654,661 1
Slide 29: Reconciliation of 2026 GAAP to Non-GAAP Guidance Measures
Reconciliation of 2026 GAAP to Non-GAAP Guidance Measures 1 2 Projected Range (In millions, except percentages) Low High GAAP gross margin on total revenues 89 % 90 % Acquisition accounting inventory fair value step-up 1% 1% Non-GAAP gross margin on total revenues 90 % 91 % GAAP SG&A expenses $1,424