Jazz Pharmaceuticals, Inc. (NASDAQ:JAZZ) reported higher profit for the first quarter as revenue showed growth. A specialty pharmaceutical company, Jazz is focused on developing and commercializing innovative products to meet unmet medical needs in neurology and psychiatry.
Jazz Pharmaceuticals Earnings Cheat Sheet for the First Quarter
Results: Net income for the biotechnology company rose to $21.8 million (48 cents/share) vs. $1.5 million (4 cents/share) in the same quarter a year earlier. A substantial increase from the year earlier quarter.
Revenue: Rose 44.7% to $50.9 million YoY.
Actual vs. Wall St. Expectations: JAZZ reported adjusted net income of of 59 cents/share. By that measure, the company beat the mean estimate of 56 cents/share. Estimates ranged from 51 cents per share to 61 cents per share.
Quoting Management: “Our first quarter results reflect strong sales momentum for Xyrem,” said Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals. “We are committed to helping patients suffering from narcolepsy.”
Competitors to Watch: Cephalon, Inc. (NASDAQ:CEPH), Forest Laboratories, Inc. (NYSE:FRX), Transcept Pharmaceuticals, Inc. (NASDAQ:TSPT), Pfizer Inc. (NYSE:PFE), GlaxoSmithKline plc (NYSE:GSK), Eli Lilly & Co. (NYSE:LLY), Abbott Laboratories (NYSE:ABT), Caraco Pharmaceutical Laboratories Ltd. (AMEX:CPD), Watson Pharmaceuticals, Inc. (NYSE:WPI), and McKesson Corporation (NYSE:MCK)
Stock Performance: Shares of JAZZ are up 1% in after hours trading.