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Jazz Pharmaceuticals, Inc. Announces First Quarter 2008 Financial Results
Date:5/13/2008

million for first quarter of 2007. The increase primarily reflects higher expenses associated with later stage development programs, particularly JZP-6.

Selling, general and administrative expenses for first quarter of 2008 were $32.8 million, compared to $14.3 million for the first quarter of 2007. The increase was primarily due to spending in preparation for the launch of LUVOX CR, increased headcount and higher expenses to support the larger sales force.

Net loss for the first quarter of 2008 was $46.7 million, compared to a $19.6 million net loss for the first quarter of 2007.

Jazz Pharmaceuticals' unrestricted cash and marketable securities balance as of March 31, 2008 was $105.2 million. During the quarter ended March 31, 2008, net cash used in operating activities was $38.2 million.

Recent Highlights

-- In late March 2008, approximately $3.0 million of LUVOX CR commercial

product was shipped to wholesalers. As is common for new

pharmaceutical product launches, no LUVOX CR net sales revenue was

recognized in the first quarter of 2008.

-- In mid-April 2008, Jazz Pharmaceuticals' sales team of approximately

200 field-based professionals began communicating with psychiatrists

and select primary care physicians about the unique attributes of

LUVOX CR for OCD and SAD patients. Sales professionals are providing

samples of LUVOX CR in 100 mg and 150 mg doses. Jazz Pharmaceuticals

is also supporting non-branded disease awareness campaigns to

highlight the importance of correctly diagnosing and treating OCD and

SAD.

-- Approval and launch of LUVOX CR triggered a total of $41.0 million in

milestone payments to Solvay Pharmaceuticals, $10.0 million of which

was paid in March 2008.

-- On April 25, 2008, screening of subjects was closed in the first of

Jazz Pharmaceuticals' two P
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SOURCE Jazz Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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