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JAZZ PHARMACEUTICALS ANNOUNCES FIRST QUARTER 2013 FINANCIAL RESULTS
Date:5/7/2013

ales of Prialt during the first quarter of 2012 included $4.6 million of sales of Prialt to Eisai Co. Limited under a supply agreement for distribution and sale in Europe.  
  • Psychiatry Products:  First quarter 2013 net sales of the company's psychiatry products were $17.7 million compared to pro forma net sales of $18.1 million for the same period of 2012.  First quarter 2013 net sales of the psychiatry products were impacted by the launch of a generic version of Luvox CR in March 2013. 
  • Other:  Net sales of other products for the first quarter of 2013 were $12.7 million compared to pro forma net sales of $12.9 million in the same period of 2012.  "Other" includes products acquired in the EUSA Pharma and Azur Pharma transactions that are not mentioned above. 
  • Operating Expenses and Other Operating expenses for the first quarter of 2013 increased to $128.1 million compared to $66.8 million for the first quarter of 2012.  Operating expenses increased over the prior year for the following reasons:

  • Cost of product sales for the first quarter of 2013 was $27.2 million compared to $7.7 million for the same period in 2012.  The increase in 2013 was primarily due to higher net sales and a change in product mix.
  • Gross margin for the first quarter of 2013, as a percentage of product sales, was 86.0% compared to 92.4% for the same period in 2012.  Our gross margin percentage in the first quarter of 2013 as compared to the same period in 2012 was lower primarily due to the inclusion of products from the EUSA Pharma acquisition.
  • Selling, general and administrative ("SG&A") and research and development ("R&D") expenses for the first quarter of 2013 totaled $81.3 million compared to $48.3 million for the same period of 2012.  The increase reflected higher headcount and related expenses due primarily to the expansion of our business, a change i
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  • SOURCE Jazz Pharmaceuticals plc
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