Jazz Pharmaceuticals (JAZZ) investor relations material

Strategic focus and business development

• Refined strategy centers on rare diseases within core strengths like epilepsy, oncology, and sleep, with measured expansion into new rare disease areas.

• Prioritization of post-proof-of-concept or perimarket assets for initial entry into new rare disease areas, with earlier-stage investments considered as expertise grows.

• Business development remains a pillar, with a focus on bolt-on licensing and acquisitions in the $500M–$2.5B range, while transformational deals are not ruled out.

• Transformation from specialty pharma to biotech biopharma is underway, with increasing emphasis on internally developed assets.

• Strong financial position with $2.4B in cash and investments supports ongoing and future transactions.

Product performance and pipeline updates

• Achieved 21st consecutive year of revenue growth in 2025, with record revenues of $4.3B; 2026 revenue guidance is $4.25B–$4.5B.

• XYWAV maintains a strong market position as the only low-sodium oxybate, with growth expected in idiopathic hypersomnia (IH) despite generic competition.

• Modeyso launch is progressing well, with peak revenue potential dependent on therapy duration and patient identification; ACTION trial data expected late 2026 or early 2027.

• Epidiolex growth driven by nurse navigator programs and adult market expansion; new study in focal onset seizures underway.

• JZP047, a Jazz-developed molecule for absence epilepsy, marks a shift toward internal R&D.

Key pipeline milestones and clinical data

• Zanidatamab (Zani) sBLA submitted for first-line GEA, with potential FDA approval and launch in H2 2026; Breakthrough Therapy Designation granted.

• NCCN guideline submission for Zani is pending; U.S. addressable market for first-line GEA estimated at 8,000 HER2-positive patients.

• EmpowHER phase III breast cancer trial for Zani targets patients post-Enhertu, with data expected late 2027 or early 2028.

• Early neoadjuvant data for Zani in breast cancer to be presented at AACR; additional data on JZP3507 and dordaviprone expected.

• Dordaviprone interim survival analysis from ACTION study anticipated by year-end 2026 or early 2027.