5. Jazz Pharmaceuticals plc (NASDAQ:JAZZ)
Number of Hedge Fund Holders In Q2 2024: 44
Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is a biotechnology company that sells medicines for sleep disorders, seizures, lung cancer, and other ailments. When compared to risky biotechnology stocks, the firm is stable as it generated $3.9 billion in trailing twelve month revenue and $395 million in profits over the same period. Consequently, Jazz Pharmaceuticals plc (NASDAQ:JAZZ) has a solid operations base with which to generate cash flow, which is key to maintaining growth since it enables the firm to invest in new drugs to maintain and grow revenue. Right now, Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is focused on seeking approval for its seizure drugs in Japan, and if it receives approval then it could grow revenue. Two other drugs in Phase Three trials are treatments for lung and gastroesophageal cancer, indicating a robust pipeline with the potential to generate tailwinds for Jazz Pharmaceuticals plc (NASDAQ:JAZZ)’s stock. During Q2, out of the firm’s $1 billion revenue, its Sleep business accounted for 46.9% or $485 million in sales. Since Jazz Pharmaceuticals plc (NASDAQ:JAZZ) holds a key patent for sleep drugs, this business could continue to provide sizeable cash in the future.
Jazz Pharmaceuticals plc (NASDAQ:JAZZ)’s management shared details about its Sleep division during the Q2 2024 earnings call:
“I’ll also note that a large number of narcolepsy patients initiated Xywav therapy in the first quarter of this year as a result of Xyrem being removed from certain formularies, with a meaningful percentage of those patients initially utilizing bridging and support programs as they transitioned to Xywav. In the second quarter, we’ve seen a normalization in the use of these programs as many of those patients who initiated in the first quarter resumed commercial coverage following the usual benefits review and authorization process. Turning to our quarterly patient metrics, there were approximately 9,925 narcolepsy patients taking Xywav exiting the second quarter, an increase of approximately 25 patients from the prior quarter. I’ll highlight that we are receiving promising early feedback from the field nurse educator program we launched earlier this year.
This program enables new Xywav patients to interact in person with trained healthcare professionals as they begin oxybate therapy, providing an additional layer of support during the time when patients are titrating and optimizing their oxybate therapies and are most likely to have questions or discontinue treatment. Moving to IH, we continue to view this indication as the strongest growth opportunity for Xywav. Exiting the second quarter, there were approximately 3,300 active IH patients on Xywav, an increase of approximately 250 from the prior quarter. Our expanded field force has been active in the market for a full quarter now, with a particular focus on increasing the depth and breadth of IH prescribers, which continues to drive demand.”
