Jazz Pharmaceuticals Down 4.5% on Weak 2012 Guidance
Jazz Pharmaceuticals (NASDAQ: JAZZ) is trading lower on the session followings it guidance announcement this morning. The company sees 2012 EPS $4.25-4.40 vs $4.45 estimates and revenues of $500 million - 510 million vs $516.75 million estimates. Jazz Pharmaceuticals reported better than expected Q1 earnings of $0.91 vs $0.84 estimates and revenues of $108.4 million vs $102.48 million estimates.
Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals stated: "Our first quarter results reflect a significant increase in net sales driven by the continued growth of Xyrem®, as well as our recent combination with Azur Pharma and the resulting expanded product portfolio that addresses significant patient needs. We intend to continue to drive revenue and adjusted earnings growth by seeking to maximize the opportunities for our products, including the new products that we would acquire through the planned acquisition of EUSA Pharma Inc. announced late last month."
Jazz Pharmaceuticals is currently trading at $48.08, a loss of $2.28 or 4.54%.
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