Brean Murray Carret & Co. Starts Jazz Pharmaceuticals (JAZZ) at Buy, Xyrem Continues to Grow

Brean Murray Carret & Co. initiates coverage on Jazz Pharmaceuticals (NASDAQ: JAZZ) with a Buy. PT $81.00.

"Xyrem (for narcolepsy with cateplexy and excessive daytime sleepiness) continues to grow with high barriers to generic entry, and we expect Jazz to remain the single source supplier for Xyrem beyond patent expiration in 2014," the analyst comments. "We forecast FY12 Xyrem sales to reach $376M and grow to over $500M by 2014. While Xyrem will contribute an estimated 62% of FY12 revenue ($611M), JAZZ has integrated two acquisitions over the past 12 months that diversifies the revenue mix, adds significant cash flow generation and positions the company as a competitive acquirer of assets to grow its specialty portfolio."

For an analyst ratings summary and ratings history on Jazz Pharmaceuticals click here. For more ratings news on Jazz Pharmaceuticals click here.

Shares of Jazz Pharmaceuticals closed at $54.79 yesterday.

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