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Jazz Pharmaceuticals (JAZZ)

Jazz Pharmaceuticals plc is a global biopharmaceutical company dedicated to developing and commercializing life-changing medicines that transform the lives of patients with serious diseases - often with limited or no options. Jazz Pharmaceuticals plc has a diverse portfolio of marketed medicines and novel product candidates, from early- to late-stage development, in key therapeutic areas. The company's focus is in neuroscience, including sleep and movement disorders, and in oncology, including hematologic and solid tumors. They actively explore new options for patients including novel compounds, small molecule advancements, biologics and innovative delivery technologies. Jazz is headquartered in Dublin, Ireland and has employees around the globe, serving patients in more than 90 countries.

Company profile

Ticker
JAZZ
Exchange
CEO
Bruce C. Cozadd
Employees
Incorporated
Location
Fiscal year end
Former names
JAZZ PHARMACEUTICALS INC
SEC CIK
Subsidiaries
Jazz Pharmaceuticals Ireland Limited • Jazz Pharmaceuticals, Inc. • Celator Pharmaceuticals Inc. • GW Research Limited • Jazz Pharmaceuticals UK Holdings Limited • Gentium S.r.l. • GW Pharma Limited • Jazz Financing Holdings Limited • Jazz Pharmaceuticals International Limited • Jazz Investments Europe Limited ...
IRS number
981032470

JAZZ stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

3 Aug 22
1 Oct 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 711.27M 711.27M 711.27M 711.27M 711.27M 711.27M
Cash burn (monthly) (no burn) 15.01M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) n/a 45.91M n/a n/a n/a n/a
Cash remaining n/a 665.36M n/a n/a n/a n/a
Runway (months of cash) n/a 44.3 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
7 Sep 22 Finbar Larkin Ordinary Shares Sell Dispose S No No 150 63 9.45K 19,606
6 Sep 22 Bruce C Cozadd Ordinary Shares Sell Dispose S No No 155.22 542 84.13K 356,308
6 Sep 22 Bruce C Cozadd Ordinary Shares Sell Dispose S No No 154.31 474 73.14K 356,850
6 Sep 22 Bruce C Cozadd Ordinary Shares Sell Dispose S No No 153.13 1,170 179.16K 357,324
6 Sep 22 Bruce C Cozadd Ordinary Shares Sell Dispose S No No 152.41 4,517 688.44K 358,494
6 Sep 22 Bruce C Cozadd Ordinary Shares Option exercise Acquire M No No 59.13 9,700 573.56K 363,011
6 Sep 22 Bruce C Cozadd Ordinary Shares Sell Dispose S No Yes 155.1 1,000 155.1K 353,311
6 Sep 22 Bruce C Cozadd NQSO Ordinary Shares Option exercise Dispose M No Yes 59.13 9,700 573.56K 62,905
2 Sep 22 Samantha Pearce Ordinary Shares Sell Dispose S No Yes 156.98 531 83.36K 11,309
2 Sep 22 Samantha Pearce Ordinary Shares Option exercise Acquire M No Yes 109.45 531 58.12K 11,840
13F holders Current Prev Q Change
Total holders 451 450 +0.2%
Opened positions 56 75 -25.3%
Closed positions 55 69 -20.3%
Increased positions 140 147 -4.8%
Reduced positions 159 142 +12.0%
13F shares Current Prev Q Change
Total value 9.05B 9.06B -0.1%
Total shares 57M 56.54M +0.8%
Total puts 197.6K 218.58K -9.6%
Total calls 85.9K 288.83K -70.3%
Total put/call ratio 2.3 0.8 +204.0%
Largest owners Shares Value Change
BLK Blackrock 6.51M $1.02B +0.8%
Vanguard 5.76M $898.18M +2.8%
JPM JPMorgan Chase & Co. 3.38M $526.86M +2.7%
STT State Street 2.26M $352.07M -3.8%
Wellington Management 2.26M $351.92M -14.1%
LSV Asset Management 1.73M $270.16M -4.2%
FMR 1.6M $249.7M -8.7%
Polaris Capital Management 1.48M $230.62M -1.7%
Renaissance Technologies 1.43M $222.49M -6.0%
Samlyn Capital 1.2M $187.77M +28.1%
Largest transactions Shares Bought/sold Change
Farallon Capital Management 920.1K +591.1K +179.7%
Canada Pension Plan Investment Board 654.02K -513.9K -44.0%
AMP Ameriprise Financial 846.87K +377.95K +80.6%
Wellington Management 2.26M -369.39K -14.1%
Samlyn Capital 1.2M +264.15K +28.1%
Wedge Capital Management L L P 240.62K +240.62K NEW
Woodline Partners 396.86K +221.82K +126.7%
Parametric Portfolio Associates 0 -209.39K EXIT
MS Morgan Stanley 661.66K +197.52K +42.6%
Armistice Capital 278K -194K -41.1%

Financial report summary

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Risks
  • Our inability to maintain or increase sales from our oxybate franchise would have a material adverse effect on our business, financial condition, results of operations and growth prospects.
  • The introduction of new products in the U.S. market that compete with, or otherwise disrupt the market for, our oxybate products and product candidates would adversely affect sales of our oxybate products and product candidates.
  • The distribution and sale of our oxybate products are subject to significant regulatory restrictions, including the requirements of a REMS and safety reporting requirements, and these regulatory and safety requirements subject us to risks and uncertainties, any of which could negatively impact sales of Xywav and Xyrem.
  • Our inability to maintain or increase sales of Epidiolex/Epidyolex would have a material adverse effect on our business, financial condition, results of operations and growth prospects.
  • While we expect our oxybate products and Epidiolex/Epidyolex to remain the largest parts of our business, our success also depends on our ability to effectively commercialize other products in our neuroscience and oncology therapeutic areas.
  • We face substantial competition from other companies, including companies with larger sales organizations and more experience working with large and diverse product portfolios, and face competition from generic drugs and potentially from non-FDA approved cannabidiol preparations.
  • Adequate coverage and reimbursement from third party payors may not be available for our products and we may be unable to successfully contract for coverage from pharmacy benefit managers and other organizations; conversely, to secure coverage from these organizations, we may be required to pay rebates or other discounts or other restrictions to reimbursement, either of which could diminish our sales or adversely affect our ability to sell our products profitably.
  • In addition to access, coverage and reimbursement, the commercial success of our products depends upon their market acceptance by physicians, patients, third party payors and the medical community.
  • Delays or problems in the supply of our products for sale or for use in clinical trials, loss of our single source suppliers or failure to comply with manufacturing regulations could materially and adversely affect our business, financial condition, results of operations and growth prospects.
  • Our future success depends on our ability to successfully develop and obtain and maintain regulatory approvals for our late-stage product candidates and, if approved, to successfully launch and commercialize those product candidates.
  • We may not be able to successfully identify and acquire or in-license additional products or product candidates to grow our business, and, even if we are able to do so, we may otherwise fail to realize the anticipated benefits of these transactions.
  • Conducting clinical trials is costly and time-consuming, and the outcomes are uncertain. A failure to prove that our product candidates are safe and effective in clinical trials, or to generate data in clinical trials to support expansion of the therapeutic uses for our existing products, could materially and adversely affect our business, financial condition, results of operations and growth prospects.
  • We may not realize the anticipated benefits from the GW Acquisition.
  • It is difficult and costly to protect our proprietary rights, and we may not be able to ensure their protection.
  • We have incurred and may in the future incur substantial costs as a result of litigation or other proceedings relating to patents, other intellectual property rights and related matters, and we may be unable to protect our rights to, or commercialize, our products.
  • With respect to our products and product candidates targeting rare indications, relevant regulatory exclusivities such as orphan drug exclusivity or pediatric exclusivity may not be granted or, if granted, may be limited.
  • Changes in the market for directors and officers liability insurance could make it more difficult and more expensive for us to obtain directors and officers liability insurance.
  • We have substantially expanded our international footprint and operations, and we may expand further in the future, which subjects us to a variety of risks and complexities which, if not effectively managed, could negatively affect our business.
  • Significant disruptions of information technology systems or data security breaches could adversely affect our business.
  • We are subject to significant ongoing regulatory obligations and oversight, which may result in significant additional expense and limit our ability to commercialize our products.
  • If we fail to comply with our reporting and payment obligations under the Medicaid Drug Rebate Program or other governmental pricing programs, we could be subject to additional reimbursement requirements, penalties, sanctions and fines, which could have a material adverse effect on our business, financial condition, results of operations and growth prospects.
  • Product liability and product recalls could harm our business.
  • We use hazardous materials in our manufacturing facilities, and any claims relating to the improper handling, storage, release or disposal of these materials could be time-consuming and expensive.
  • Xyrem, Xywav and nabiximols are controlled substances and certain other cannabis-derived product candidates we are developing may be subject to U.S. federal and state controlled substance laws and regulations, and our failure to comply with these laws and regulations, or the cost of compliance with these laws and regulations, could materially and adversely affect our business, results of operations, financial condition and growth prospects.
  • Nabiximols and other cannabinoid product candidates are currently controlled substances, the use of which may generate public controversy.
  • Our ability to research, develop and commercialize Epidiolex/Epidyolex, nabiximols and certain of our product candidates is dependent on our ability to maintain licenses relating to the cultivation, possession and supply of botanical cannabis, a controlled substance.
  • Controlled substance legislation differs between countries and legislation in certain countries may restrict or limit our ability to sell Epidyolex, nabiximols and certain of our product candidates.
  • We have incurred substantial debt, which could impair our flexibility and access to capital and adversely affect our financial position, and our business would be adversely affected if we are unable to service our debt obligations.
  • Covenants in our credit agreement and indenture governing our senior secured notes restrict our business and operations in many ways and if we do not effectively manage our covenants, our financial conditions and results of operations could be adversely affected.
  • To continue to grow our business, we will need to commit substantial resources, which could result in future losses or otherwise limit our opportunities or affect our ability to operate and grow our business.
  • We have significant intangible assets and goodwill. Consequently, the future impairment of our intangible assets and goodwill may significantly impact our profitability.
  • Our financial results have been and may continue to be adversely affected by foreign currency exchange rate fluctuations.
  • Changes in our effective tax rates could adversely affect our business and financial condition, results of operations and growth prospects.
  • The IRS may not agree with the conclusion that we should be treated as a foreign corporation for U.S. federal tax purposes.
  • Our affiliates’ ability to use their net operating losses and carryforward tax losses to offset potential taxable income is limited under applicable law and could be subject to further limitations if we do not generate taxable income in a timely manner or if certain “ownership change” provisions of applicable law result in further limitations.
  • Changes to tax laws relating to multinational corporations could adversely affect us.
  • A substantial portion of our indebtedness bears interest at variable interest rates based on USD LIBOR. Changes in the method of determining LIBOR, or the replacement of LIBOR with an alternative reference rate, may adversely affect interest rates on our current or future indebtedness and may otherwise adversely affect our financial condition and results of operations.
  • The market price of our ordinary shares has been volatile and is likely to continue to be volatile in the future, and the value of your investment could decline significantly.
  • We are subject to Irish law, which differs from the laws in effect in the U.S. and may afford less protection to holders of our securities.
  • Our articles of association, Irish law, our credit agreement and the indentures governing our senior secured notes and exchangeable senior notes contain provisions that could delay or prevent a takeover of us by a third party.
  • Future sales and issuances of our ordinary shares, securities convertible into our ordinary shares or rights to purchase ordinary shares or convertible securities could result in additional dilution of the percentage ownership of our shareholders and could cause our share price to decline.
  • We have never declared or paid dividends on our capital stock and we do not anticipate paying dividends in the foreseeable future.
  • If we fail to attract, retain and motivate key personnel or to retain the members of our executive management team, our operations and our future growth may be adversely affected.
  • Our business and operations could be negatively affected if we become subject to shareholder activism or hostile bids, which could cause us to incur significant expense, hinder execution of our business strategy and impact our stock price.
Management Discussion
  • (1)The results of operations of the GW business have been included from the closing of the acquisition of GW on May 5, 2021.
  • (2)Comparison to prior period not meaningful.
  • (3)The fluctuations in the income tax expense (benefit) for the three and six months ended June 30, 2022 and 2021 are as a result of changes in the mix of pre-tax income and losses across our jurisdictions and the impact of the change in the statutory tax rate in the U.K. on the 2021 periods.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. senior Avg
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