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Jazz Pharmaceuticals, Inc. Announces Fourth Quarter and Full Year 2008 Financial Results
Date:3/26/2009

PALO ALTO, Calif., March 26 /PRNewswire-FirstCall/ -- Jazz Pharmaceuticals, Inc. (Nasdaq: JAZZ) today announced financial results for the fourth quarter and full year ended December 31, 2008.

Total revenues for the quarter ended December 31, 2008 were $19.6 million, compared to $15.5 million for the quarter ended December 31, 2007. Total revenues for the year ended December 31, 2008 were $67.5 million, compared to $65.3 million for the year ended December 31, 2007. Total revenues for 2008 included contract revenue of $1.1 million, compared to $10.6 million for 2007, which included $9.5 million of milestone payments from UCB Pharma Limited. A $10.0 million milestone payment received in 2008 from UCB Pharma Limited will be recorded as contract revenue in 2009.

XYREM(R) (sodium oxybate) oral solution net sales increased 42% to $15.8 million for the quarter ended December 31, 2008, compared to sales of $11.1 million for the quarter ended December 31, 2007. XYREM net sales for the year ended December 31, 2008 increased 38% to $53.8 million, compared with $39.0 million for the year ended December 31, 2007. Net sales of once-daily LUVOX CR(R) (fluvoxamine maleate) Extended-Release Capsules, launched in April 2008, were $3.1 million for the fourth quarter of 2008 and $5.7 million for the nine-month period since launch.

Research and development expenses for the quarter ended December 31, 2008 were $14.7 million, compared to $20.5 million for the quarter ended December 31, 2007. For the year ended December 31, 2008, research and development expenses were $70.0 million, compared to $69.8 million for the year ended December 31, 2007. Research and development expenses in both 2008 and 2007 primarily reflect the expenses relating to the Phase III clinical activities for the company's JZP-6 (sodium oxybate for the treatment of
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