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Jazz Pharmaceuticals Announces Second Quarter 2014 Financial Results And Updated Guidance
Date:8/5/2014

DUBLIN, Aug. 5, 2014 /PRNewswire/ -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ) today announced financial results for the second quarter ended June 30, 2014 and updated financial guidance for 2014.

"Strong underlying demand for our products and the start of our European Union launch of Defitelio led to significant revenue growth in the second quarter," said Bruce C. Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals plc. "We have successfully completed three transactions in 2014, including our recently announced acquisition of the rights to defibrotide in the Americas. With an expanding clinical development pipeline targeted in the sleep and hematology/oncology therapeutic areas and our continued focus on business development, we believe that we are poised to provide significant financial growth in 2014 and beyond."

Adjusted net income attributable to Jazz Pharmaceuticals plc for the second quarter of 2014 was $127.8 million, or $2.05 per diluted share, compared to $88.3 million, or $1.43 per diluted share, for the second quarter of 2013.

GAAP net income attributable to Jazz Pharmaceuticals plc for the second quarter of 2014 was $43.7 million, or $0.70 per diluted share, compared to $42.2 million, or $0.69 per diluted share, for the second quarter of 2013. GAAP net income attributable to Jazz Pharmaceuticals plc for the second quarter of 2014 included a non-cash intangible asset impairment charge of $32.8 million. Reconciliations of applicable GAAP reported to non-GAAP adjusted information are included in this press release.

Second Quarter 2014 Revenues and Product SalesTotal revenues for the second quarter of 2014 were $291.2 million, an increase of 40% over total revenues of $208.3 million for the second quarter of 2013. This increase was driven primarily by net product sales of Xyrem® (sodium oxybate) oral
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SOURCE Jazz Pharmaceuticals plc
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