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Jazz Pharmaceuticals JAZZ reported fourth-quarter 2025 adjusted earnings per share (EPS) of $6.64 per share, which beat the Zacks Consensus Estimate of $6.62. Earnings rose 2% year over year.
Total revenues rose 10% year over year to $1.2 billion, which beat the Zacks Consensus Estimate of $1.18 billion.
Shares of Jazz rose 5% in after-market trading yesterday, likely due to the better-than-expected results.
Year to date, the stock has gained 2% compared with the industry’s 9% growth.
Net product sales increased 10.5% year over year to $1.13 billion. The reported figure beat both the Zacks Consensus Estimate and our model estimate of $1.11 billion.
Jazz recorded about $56 million in royalty revenues from high-sodium oxybate authorized generic (AG), up 1% year over year. The metric beat the Zacks Consensus Estimate of $53 million and our model estimate of $51 million.
Other royalties and contract revenues were about $10 million, up 28% from the year-ago period levels.
Sales of Jazz’s neuroscience products rose more than 8% year over year to $792 million.
Net product sales for the combined oxybate business (Xyrem + Xywav) rose 12% to $503 million. This combined figure beat both the Zacks Consensus Estimate of $481 million and our model estimates of $485 million.
Sales of the sleep disorder drug Xyrem declined more than 23% year over year to $37.8 million due to patients switching to Xywav and the launch of AGs in 2023.
Xywav, a low-sodium formulation of Xyrem, recorded sales of more than $465 million in the quarter, up 16%. This upside can be attributed to the encouraging uptake of the drug in narcolepsy and idiopathic hypersomnia indications. This drug is currently Jazz’s most extensive product by net sales.
Sales of the epilepsy drug Epidiolex/Epidyolex rose 4% to $287 million. Per Jazz, the drug’s sales growth was negatively impacted by higher-than-normal inventory levels in the year-ago period. This likely caused Epidiolex sales to miss the Zacks Consensus Estimate of $297 million and our model estimate of $300 million. Despite this soft performance, the drug achieved blockbuster status in 2025.
Cannabis-based mouth spray Sativex recorded sales of $1.5 million in the quarter, down 71% year over year.
Oncology product sales rose 16% to over $337 million.
Chemotherapy drug Rylaze/Enrylaze posted sales of more than $108 million, up nearly 7% year over year. This figure beat both the Zacks Consensus Estimate of $106 million and our model estimate of $107 million.
Zepzelca, approved for small-cell lung cancer (SCLC), recorded sales over $90 million, up 15% year over year. This upside was primarily driven by initial demand for the drug in the recently approved front-line SCLC setting.
Acute myeloid leukemia drug Vyxeos generated sales of about $35 million, down 35% from the year-ago period’s level. Defitelio sales rose 2% to $59 million.
Sales of Ziihera, which was approved by the FDA in December 2024 for the biliary tract cancer indication, added $8.5 million to the top line compared with $8.3 million in the previous quarter.
Jazz recorded revenues worth $36.5 million from the sales of its recently launched brain tumor drug Modeyso, compared to $11 million in the previous quarter. This drug was approved by the FDA last year in August.
Adjusted selling, general and administrative expenses (SG&A) rose about 12% year over year to $360.5 million. This uptick was primarily attributed to higher compensation-related expenses incurred during the quarter.
Adjusted research and development (R&D) expenses declined 14% to $190 million, mainly due to lower clinical program costs incurred during the quarter.
Jazz reported adjusted EPS of $8.38 for the full year, down 54% year over year.
Total revenues in the reported quarter rose 5% year over year to $4.3 billion. The top line included neuroscience and oncology net product sales of $2.9 billion and $1.1 billion, respectively.
Jazz issued fresh financial guidance for the full year. Total revenues are expected to be in the range of $4.25-$4.50 billion, suggesting 2.5% year-over-year growth at the midpoint compared with the 2025 level. The Zacks Consensus Estimate for this metric is pinned at $4.54 billion.
While the company expects double-digit growth across its combined epilepsy and oncology franchises, Xywav sales are projected to either remain flat or rise by a mid-single-digit percentage.
While adjusted SG&A expenses are anticipated to be between $1.26 billion and $1.32 billion, adjusted R&D expenses are expected to be in the range of $725-$775 million.
The effective tax rate is expected to be between 11.5% and 13.5%.
Jazz currently carries a Zacks Rank #3 (Hold).
Jazz Pharmaceuticals PLC price | Jazz Pharmaceuticals PLC Quote
Some better-ranked stocks from the sector are Castle Biosciences CSTL and Immunocore IMCR, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Castle Biosciences’ loss estimates for 2026 per share have improved from $1.06 to 96 cents in the past 60 days.
CSTL’s earnings beat estimates in three of the trailing four quarters and missed the mark on one occasion, delivering an average surprise of 66.11%.
In the past 60 days, Immunocore’s loss estimates per share for 2026 have narrowed from 97 cents to 90 cents.
IMCR’s earnings beat estimates in three of the trailing four quarters but missed the mark once, delivering an average surprise of 53.96%.
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This article originally published on Zacks Investment Research (zacks.com).
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