Jazz Pharmaceuticals (NASDAQ: JAZZ) reported Q2 EPS of $3.71, $0.60 better than the analyst estimate of $3.11. Revenue for the quarter came in at $562.4 million versus the consensus estimate of $504.65 million.

"I am proud that we delivered strong financial and operational results above our expectations despite challenges arising from the COVID-19 pandemic," said Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals. "With the strong performance of Xyrem and the recent FDA approval of Xywav, we are well-positioned to ensure the durability and growth of our oxybate business with differentiated products."

"The second quarter was highlighted by the approval of Zepzelca, and our subsequent strong launch, which was accomplished within six months of closing the licensing agreement with PharmaMar," continued Mr. Cozadd. "We also innovated around the challenges of the pandemic, pivoting to a timely virtual launch of Sunosi in Germany and implementing robust measures to facilitate continued progress of our clinical development programs and regulatory filings."

"Through the issuance of $1 billion of senior notes in the second quarter, we strengthened our financial position and increased our capacity for a broader set of corporate development opportunities," concluded Mr. Cozadd. "With multiple commercial launches, the expansion of our innovative pipeline, strategic capital allocation, and projected durable revenue growth and diversification, this is a transformative year for us, and we are excited about the opportunities ahead for patients and shareholders."

GUIDANCE:

Jazz Pharmaceuticals sees FY2020 EPS of $11.90-$13.00, versus the consensus of $11.73. Jazz Pharmaceuticals sees FY2020 revenue of $2.225-2.325 billion, versus the consensus of $2.2 billion.

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