Summary: Jazz Pharmaceuticals reported record revenues exceeding $1 billion for Q2 2024, driven by strong sales of Xywav in its sleep medicine portfolio, as well as Epidiolex and Rylaze in its seizure and oncology portfolios. The company saw a 13% year-over-year increase in Xywav sales, with substantial patient growth in both narcolepsy and idiopathic hypersomnia. Jazz also highlighted new clinical recommendations and significant data presented at SLEEP 2024, as well as future plans for a phase 1b trial of JZP441 for narcolepsy.
Key Takeaways:
- Record Revenues: Jazz Pharmaceuticals achieved over $1 billion in Q2 2024 revenues, driven by strong sales of key products, including a 13% increase in Xywav sales.
- Patient Growth: Xywav saw patient growth, with approximately 13,225 active patients, including 9,925 narcolepsy patients and 3,300 idiopathic hypersomnia patients.
- Future Developments: Jazz is planning a phase 1b trial of JZP441 for type 1 narcolepsy patients, aiming to further understand orexin agonism and inform future development efforts.
Jazz Pharmaceuticals reported record revenues exceeding $1 billion for Q2 2024, driven by strong sales of Xywav in its sleep medicine portfolio, as well as Epidiolex and Rylaze in its seizure and oncology portfolios.
“Jazz’s record revenues of over $1 billion in the second quarter were driven by strong execution and increased demand for our key growth drivers, Xywav, Epidiolex, and Rylaze,” says Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals, in a release.
Xywav net product sales grew 13% year-over-year, while Epidiolex/Epidyolex net product sales grew 22% year-over-year, and Rylaze/Enrylaze net product sales grew 6% year-over-year.
Key Sleep Medicine Commercial Products
Highlights for the quarter for Jazz’s sleep medicine portfolio include:
Xywav (calcium, magnesium, potassium, and sodium oxybates) oral solution:
- Xywav net product sales were $368.5 million in 2Q24, an increase of 13% compared to the same period in 2023.
- There were approximately 13,225 active Xywav patients exiting 2Q24 comprised of:
- Approximately 9,925 narcolepsy patients.
- Approximately 3,300 idiopathic hypersomnia (IH) patients, with 250 net patient adds.
- Expert recommendations for optimizing flexible and individualized dosing regimens of low-sodium Xywav in narcolepsy and IH were published in Neurology and Therapy. Nearly 90% of healthcare providers surveyed felt the ability to adjust Xywav dosing to accommodate routine changes was important or very important and had a positive impact on their ability to provide care.
- Data presented at SLEEP 2024 included two late-breaking posters assessing the burden experienced by patients with IH. One poster demonstrated substantial comorbidity and health-related quality-of-life burdens for IH patients. Another poster reported greater economic burden, including work productivity impairment, compared to people living without IH.
Xyrem (sodium oxybate) oral solution and high-sodium oxybate authorized generic (AG) royalties:
- Xyrem net product sales were $62.2 million in 2Q24, a decrease of 61% compared to the same period in 2023.
- Royalties from high-sodium oxybate AGs were $54.2 million in 2Q24, an increase of $48.7 million compared to the same period in 2023.
- The company expects high-sodium oxybate AG royalty revenue to exceed $200 million in 2024.
Key Sleep Medicine Pipeline Highlights
JZP441:
- Pending input from the US Food and Drug Administration, the company is planning to initiate a phase 1b trial of JZP441 in type 1 narcolepsy patients in 2H24.
- This trial is expected to further the company’s understanding of JZP441 and, more broadly, orexin agonism, providing key learnings that could inform future development efforts.
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