Jazz Pharmaceuticals Increases Guidance Based On GW Pharma Acquisition

CANNANNEW REPORT

Jazz Pharmaceuticals plc (Nasdaq: JAZZ) raised its full-year 2021 financial guidance based on the acquisition of  GW Pharmaceuticals, which was bought on May 5, 2021. The May 4, 2021 guidance for revenue was in the range of $2.5 – $2.7 billion. That has been increased as of June 17, 2021, to a range of $3.0 to $3.1 billion. Jazz said it expects to generate 65% of 2022 revenues from products that have been launched or acquired since 2019. The 2021 guidance for a GAAP net loss is in the range of $290 – $125 million. “We expect 2021 to be another exciting, productive, and transformational year for Jazz and are pleased to update our guidance to include the addition of GW. Our guidance reflects strong execution across our commercial portfolio, continued investment in both our ongoing and planned launches, and strategic investments in R&D to advance therapies to patients in critical need of new treatment options. These investments will support the recent successful launches of both Xywav and Zepzelca, the ongoing growth of Epidiolex, the anticipated launches of JZP458 for ALL or LBL and Xywav in idiopathic hypersomnia, and the rolling launch of Epidyolex in Europe. As part of our continued R&D efforts we also look forward to advancing our PTSD and essential tremor programs, the nabiximols clinical trial program to support a U.S. regulatory approval, and our new cannabinoid research platform,” said Renée Galá, the chief financial officer of Jazz Pharmaceuticals. “We believe Epidiolex has near-term blockbuster potential and expect the addition of Epidiolex and the GW pipeline to deliver double-digit revenue growth, accelerated revenue diversification and substantial shareholder value. With the addition of GW, we are excited to transform the lives of even more patients and their families.” Still, Jazz noted that the acquisition will be dilutive to both…

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Source : Jazz Pharmaceuticals Increases Guidance Based On GW Pharma Acquisition

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