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Jazz Pharmaceuticals Updates 2021 Guidance To Include GW Pharma Acquisition

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Jazz Pharmaceuticals Updates 2021 Guidance To Include GW Pharma Acquisition
  • Jazz Pharmaceuticals plc (NASDAQ: JAZZhas 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.
 

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