JAZZ Filings — Jazz Pharmaceuticals Plc - FilingSpy
JAZZ
Jazz Pharmaceuticals Plc
A global biopharmaceutical company focused on rare diseases, Jazz Pharmaceuticals makes medicines for sleep disorders, epilepsy, and cancer. Its flagship products include Xywav for narcolepsy, Epidiolex for rare epilepsies, and the newer oncology drugs Ziihera and Modeyso. Founded in 2003 by Bruce Cozadd, the company took its name from the idea of jazz improvisation — innovating freely while staying grounded in a shared structure, much like musicians jamming together on stage.
Q2 2026 revenue rose 15.5% to $1,208.3M as oncology sales grew 32% and acquired IPR&D costs fell 91%.
costs fell 91% from the Chimerix charge a year earlier, clearing the way for a normal quarter. rose 15.5% to $1,208.3M and improved to 90.4% as Xywav, Epidiolex, and oncology launches grew while the prior-year $905.4M Modeyso charge did not repeat. The company is back to operating on its products rather than its legal and acquisition bills.
Key takeaways
expense decreased 91% to $77.0M, as the prior-year Q2 carried the $905.4M Chimerix Acquisition charge for Modeyso, removing the largest distortion to last year's results.
Total revenues increased 15.5% to $1,208.3M, with net product sales up 17% to $1,156.1M led by Xywav up 13% and Epidiolex/Epidyolex up 16%.
Oncology product sales grew 32% to $362.3M, driven by Modeyso launches at $48.2M, Ziihera at $15.4M, and a 42% increase in Zepzelca following its first-line maintenance approval.
Section summaries
Management's Discussion and Analysis
Total revenues grew 16% to $1.2B in Q2 2026, driven by Xywav, Epidiolex, and oncology launches, while acquired IPR&D costs fell sharply.
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Total revenues increased 16% to $1,208.3 million, with net product sales up 17% to $1,156.1 million, led by 13% growth in Xywav and 16% growth in Epidiolex/Epidyolex.
improved to 90.4% from 88.9%, as lower non-cash offset higher royalty costs tied to growth.
was $248.2M, down 26.3% from Q1 2026's $336.6M but a reversal of the $686.4M Q2 2025 loss; the company repaid $1.0B 2026 Notes at maturity and held $2.2B in cash and investments.
First-half 2026 rose to $823.9M, and fell to $3,335.0M, down 22.9% from Q1 2026 and 23.1% .
What changed
Q2 2026 Xywav sales rose 13% to an unstated figure on 12% volume growth carried from Q1's 18% rise; Amneal September 2025 generic entry and Lupin tentative approval pressure flagged for Q2 did not appear to reverse growth.
Oncology rose 32% in Q2 after Q1's 45% climb; Zepzelca's 60% Q1 rise held and accelerated to a 42% Q2 increase, and Modeyso plus Ziihera scaled to $63.6M combined from $54.7M in Q1.
High-sodium oxybate AG royalty was again not disclosed, extending the omission from all four 2025 quarters and Q1 2026 despite $248M reported in FY2024.
SG&A litigation costs stayed below prior-year pace after Q1's 31% drop; the $905.4M Chimerix IPR&D charge did not repeat, confirming the Q2 2025 watch item on settlement cost moderation.
Risk factors were restated unchanged from the FY2025 10-K, with no new market or supply disclosures added this quarter.
What to watch
Q3 2026 Xywav patient count and sales as Amneal generic entry and Lupin tentative approval pressure the franchise.
Disclosure of high-sodium oxybate AG royalty after omission across FY2025, Q1 and Q2 2026 despite $248M in FY2024.
Q3 2026 trajectory after the $1.0B 2026 Notes repayment lowered the balance to $3,335.0M.
Oncology product sales grew 32% to $362.3 million, driven by the launches of Modeyso ($48.2M) and Ziihera ($15.4M) and a 42% increase in Zepzelca sales following its first-line maintenance approval.
improved to 90.4% from 88.9%, as lower offset higher royalty costs tied to growth.
Acquired IPR&D expense decreased 91% to $77.0 million, as the prior-year period included the $905.4 million Chimerix Acquisition charge for Modeyso.
rose to $823.9 million for the first half of 2026, and the company repaid the $1.0 billion 2026 Notes at maturity while holding $2.2 billion in cash and investments.
The company expects full-year 2026 total revenues to increase, with growth in Xywav, Epidiolex, and oncology offsetting lower high-sodium oxybate royalties and Xyrem sales.
Quantitative and Qualitative Disclosures About Market Risk
During the six months ended June 30, 2026, there were no material changes to our market risk disclosures as set forth in Part II, Item 7A “Quantitative and Qualitative Disclosures About Market Risk” in our Annual Report on Form 10-K for the year ended December 31, 2025.
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During the six months ended June 30, 2026, there were no material changes to our market risk disclosures as set forth in Part II, Item 7A “Quantitative and Qualitative Disclosures About Market Risk” in our Annual Report on Form 10-K for the year ended December 31, 2025.
The information required to be set forth under this Item 1 is incorporated by reference to Note 10, Commitments and Contingencies—Legal Proceedings of the Notes to Condensed Consolidated Financial Statements included in Part I, Item 1 of this Quarterly Report on Form 10‑Q.
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The information required to be set forth under this Item 1 is incorporated by reference to Note 10, Commitments and Contingencies—Legal Proceedings of the Notes to Condensed Consolidated Financial Statements included in Part I, Item 1 of this Quarterly Report on Form 10‑Q.
Our material risk factors are disclosed in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025. There have been no material changes from the risk factors previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 202…
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Our material risk factors are disclosed in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025. There have been no material changes from the risk factors previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025. We encourage you to read and carefully consider all of the risk factors disclosed in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025, for a more complete understanding of the risks and uncertainties material to our business.