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Jazz Pharmaceuticals Announces Third Quarter 2011 Financial Results
Date:11/1/2011

PALO ALTO, Calif., Nov. 1, 2011 /PRNewswire/ -- Jazz Pharmaceuticals, Inc. (Nasdaq: JAZZ) today announced financial results for the third quarter of 2011.

Total revenues for the quarter ended September 30, 2011 were $73.3 million, compared to $44.8 million for the third quarter of 2010.  Total revenues include net product sales, royalties and contract revenues.

Adjusted net income for the third quarter of 2011 was $44.3 million, or $0.94 per diluted share, compared to $17.2 million, or $0.41 per diluted share, for the third quarter of 2010.  A reconciliation of GAAP net income to adjusted net income and the related per diluted share amounts is included with this press release.

GAAP net income for the third quarter of 2011 was $32.5 million, or $0.69 per diluted share, compared to a GAAP net income of $13.2 million, or $0.32 per diluted share, for the third quarter of 2010.  The company's GAAP net income in the third quarter of 2011 included costs of $6.0 million associated with the proposed transaction with Azur Pharma Public Limited Company (formerly Azur Pharma Limited) announced in September and a loss on extinguishment of debt of approximately $1.1 million associated with prepayment of a term loan in July 2011.

Net sales of Xyrem® (sodium oxybate) increased significantly to $62.5 million for the third quarter of 2011, compared to net sales of $37.2 million for the third quarter of 2010.  Net sales of once-daily Luvox CR® (fluvoxamine maleate) were $9.7 million for the third quarter of 2011, compared to $6.6 million for the prior year period.

"This strong quarter reflects the continued success of Xyrem as an important medical therapy for patients experiencing the two key symptoms of narcolepsy," said Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals.  "In the quarter, w
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SOURCE Jazz Pharmaceuticals, Inc.
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