n the fair value of contingent consideration related to the EUSA Pharma acquisition and upfront license fees, partially offset by lower transaction and integration costs. Adjusted SG&A and R&D expenses for the first quarter of 2013 totaled $62.2 million compared to $39.3 million for the same period in 2012.
Intangible asset amortization for the first quarter of 2013 was $19.6 million compared to $10.7 million for the same period in 2012. The increase was primarily related to amortization of intangible assets acquired as part of the EUSA Pharma acquisition.
First quarter of 2013 net interest expense was $7.4 million. As of March 31, 2013, our cash and cash equivalents were $450.5 million, and the remaining balance on our term loan was $451.2 million.
During the fourth quarter of 2012, the company sold its women's health business. Financial results from the women's health business are reported as discontinued operations for the quarter ended March 31, 2012.
2013 Financial Guidance Jazz Pharmaceuticals is providing the following updated 2013 guidance:Revenues
$830-$860 million Total Net Product Sales
$823-$853 million -Xyrem Net Sales
-Erwinaze/Erwinase Net Sales
$150-$175 millionAdjusted Gross Margin %1,3
87-89% Adjusted Combined SG&A and R&D Expenses2,3
$260-$275 millionGAAP Net Income Per Diluted Share
$3.32-$3.69 Adjusted Net Income Per Diluted Share3
Excludes $4 million of acquisition accounting inventory fair value step-up and $2 million in share-based compensation expense from estimated GAAP gross margin of 86-88%.2.
Excludes $46-$48 million of share-based compensation expense, $15 million related to a change in fair value of contingent consideration, $4 million of depreciation expense, $4 million of upfront license fees and $2-$3 million of
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|SOURCE Jazz Pharmaceuticals plc|
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