Jazz Pharmaceuticals (JAZZ) Bank of America Global Healthcare Conference summary

Financial and operational highlights

• Achieved record quarterly revenues exceeding $1 billion, with 15% year-over-year growth in key products and 10% growth in oncology.

• Generated nearly $600 million in operating cash flow over six months, supporting strong business performance.

• Revenue base diversified significantly since 2020, with no single product dominating income; projected 2024 revenue between $4 billion and $4.1 billion.

• Focus remains on commercial excellence, revenue growth, pipeline investment, and disciplined capital allocation for sustainable growth.

• No update to Vision 2025 financial metrics, but underlying strategic pillars remain intact.

Pipeline and R&D developments

• Zanidatamab highlighted as a de-risked, best-in-class HER2 bispecific antibody with strong data in biliary tract, gastric, and breast cancers.

• Three phase III trials ongoing for zanidatamab; biliary tract cancer PDUFA date this year, with European submission completed.

• Frontline gastric study for zanidatamab expected to read out in 2Q 2025; breast cancer phase III just initiated.

• Zepzelca program progressing, with a frontline trial in partnership with Genentech expected to report this year.

• Early oncology pipeline investments include MAP kinase pathway, Pan-RAF inhibitor, and KRAS-targeted programs.

Strategic focus and business development

• Diversification and growth achieved through both organic growth and strategic M&A, with continued focus on sleep, epilepsy, oncology, and rare orphan diseases.

• Corporate development remains a key pillar, with opportunistic approach to on-market, near-market, and pipeline assets.

• Not solely focused on reducing oxybate revenue share, but on impactful innovation and leveraging expertise for shareholder returns.

• Willingness to consider structural changes if they maximize shareholder value, but current integration of CNS and oncology seen as beneficial.

• Collaboration with BeiGene for zanidatamab development in Asia, leveraging local expertise and simplifying operational structure.