Q4 2024 Jazz Pharmaceuticals PLC Earnings Call Transcript
Key Points
- Jazz Pharmaceuticals PLC (JAZZ) reported a record year in 2024 with over $4 billion in total annual revenue and nearly $1.1 billion in fourth-quarter revenue.
- The company achieved several important R&D milestones, including the accelerated approval of Ziihera in the U.S. for second-line HER2-positive biliary tract cancer.
- Epidiolex net product revenues grew 15% in 2024 compared to 2023, and it is poised to reach blockbuster status in 2025.
- The oncology portfolio grew 9% in 2024 to a record of more than $1.1 billion, despite temporary impacts from changes to pediatric protocols.
- Jazz Pharmaceuticals PLC (JAZZ) achieved its 2024 guidance, delivering top-line growth at the upper end of its range and $1.37 billion in adjusted net income on a non-GAAP basis.
- The company faces potential revenue erosion from Xyrem due to the entry of high sodium fixed-dose, branded oxybate, and authorized generic competition.
- Rylaze's revenue was temporarily impacted by changes to pediatric protocols, affecting its performance in the second half of 2024.
- The HERIZON-GEA-01 Phase III trial data readout for zanidatamab in first-line gastroesophageal adenocarcinoma has been delayed to the second half of 2025.
- There is uncertainty regarding the impact of true generic Xyrem on Xywav revenue, which depends on several factors, including the recognition of the value of low sodium by HCPs, patients, and payers.
- The company anticipates modest revenues from Ziihera due to the small BTC patient population, although a successful launch is key for future growth opportunities.
Thank you for standing by. My name is Jeannie, and I will be your conference operator today. At this time, I would like to welcome everyone to the Jazz Pharmaceuticals Fourth Quarter 2024 Webcast. (Operator Instructions) Thank you. I would now like to turn the call over to Jeff Macdonald, Executive Director, Investor Relations. You may begin.
Thank you, operator. Good afternoon, everyone. Today, Jazz Pharmaceuticals reported its fourth quarter and full year 2024 financial results. The slide presentation accompanying this webcast is available on the Investors section of our website as is the press release we issued earlier today. On the call are Bruce Cozadd, Chairman and Chief Executive Officer; Renee Gala, President and Chief Operating Officer; Rob Iannone, Executive Vice President, Global Head of R&D; and Phil Johnson, Chief Financial Officer.
On Slide 2, I'd like to remind you that today's webcast includes forward-looking statements, such as those related to our
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