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Jazz Pharmaceuticals Announces Fourth Quarter and Full Year 2010 Results
Date:3/7/2011

PALO ALTO, Calif., March 7, 2011 /PRNewswire/ --Jazz Pharmaceuticals, Inc. (Nasdaq: JAZZ) today announced financial results for the fourth quarter and full year ended December 31, 2010.

Total revenues for the fourth quarter of 2010 were $53.4 million, compared to $38.3 million for the fourth quarter of 2009.  Full year 2010 revenues were $173.8 million, up 35 percent compared to revenues of $128.4 million for 2009.  

GAAP net income for the fourth quarter of 2010 was $24.5 million, or $0.56 per diluted share, compared to $5.7 million, or $0.17 per diluted share, for the fourth quarter of 2009.  GAAP net income for 2010 was $32.8 million, or $0.83 per diluted share, compared to a 2009 GAAP net loss of $6.8 million, or $0.23 per diluted share.

Adjusted net income for the fourth quarter of 2010 was $27.2 million, or $0.63 per diluted share, compared to $10.8 million, or $0.33 per diluted share, for the fourth quarter of 2009.  Adjusted net income for 2010 was $61.0 million, or $1.55 per diluted share, compared to a 2009 adjusted net loss of $1.5 million, or $0.05 per diluted share.  A reconciliation of GAAP net income (loss) to adjusted net income (loss) and the related per diluted share amounts is included with this press release.

Net sales of Xyrem® (sodium oxybate) oral solution increased 36 percent to $42.9 million for the fourth quarter of 2010, compared to net sales of $31.6 million for the fourth quarter of 2009.  Xyrem net sales for 2010 increased 47 percent to $142.6 million, compared to $96.8 million in net sales for 2009.  Net sales of once-daily Luvox CR® (fluvoxamine maleate) increased to $9.4 million for the fourth quarter of 2010, compared to $5.7 million for the fourth quarter of 2009.  Luvox CR net sales for 2010 increased to $27.4 million, compared to 2009 net sales of $18.3 million.  
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SOURCE Jazz Pharmaceuticals, Inc.
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