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- Jazz Pharmaceuticals plc (NASDAQ:JAZZ) has updated its full-year 2021 financial guidance to incorporate the GW Pharmaceuticals business, which the company acquired on May 5.
- Forecasts total net product sales of 3 billion to $3.1 billion in line with the consensus of $3.1 billion, compared to the earlier outlook of $2.5 billion - $2.7 billion.
- The majority of the sales comes from the neuroscience franchise, with a 2021 estimate of $2.3 billion - $2.4 billion versus $1.8 billion - $1.9 billion.
- Adjusted gross margin remains unchanged at 93%.
- The company expects adjusted EPS of $13.40 - $14.70 below the consensus of $15.05. Earlier guidance for adjusted EPS stood at $15.65 - $16.85.
- Jazz expects to generate 65% of 2022 revenues from products that have been launched or acquired since 2019.
- It also expects strong cash flows and hence targes less than 3.5x net leverage by the end of 2022.
- Price Action: JAZZ shares closed at $181.13 on Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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