27 Aug

Jazz Pharmaceuticals’ Vyxeos Approved for EU Commercialization

WRITTEN BY Daniel Collins FEATURED IN Company News, Insights, & Analysis

Vyxeos receives EC approval

Today, the European Commission (or EC) approved the marketing authorization of Jazz Pharmaceuticals’ (JAZZ) Vyxeos. This authorization covers the treatment of adult individuals with newly diagnosed treatment-associated acute myeloid leukemia with myelodysplasia-related changes (or AML-MRC).

The European Commission’s approval of Vyxeos is expected to allow Jazz Pharmaceuticals to commercialize the drug in all European member countries along with Iceland, Norway, and Liechtenstein. The European Commission approved the Vyxeos 44 mg/100mg powder for concentrate for infusion of the solution in adult individuals with this indication.

In the first half of the year, Vyxeos reported revenues of $54.1 million. The approval of Vyxeos in Europe is expected to significantly boost the drug’s revenue growth in 2018 and beyond.

Jazz Pharmaceuticals’ Vyxeos Approved for EU Commercialization

Jazz Pharmaceuticals’ financials

Jazz Pharmaceuticals reported first-half net revenues of $945.1 million, reflecting ~23.0% YoY (year-over-year) growth. In the first half, Jazz Pharmaceuticals reported adjusted net income and adjusted EPS of $379.0 million and $6.48, respectively. Its adjusted net income and adjusted EPS in the first half of 2017 totaled $298.6 million and $4.87, respectively.

To learn more about Jazz Pharmaceuticals’ second-quarter financials and performance, please refer to How Did Jazz Pharmaceuticals Perform in the Second Quarter? Jazz Pharmaceuticals comprises ~1.24% of the iShares NASDAQ Biotechnology ETF’s (IBB) portfolio holdings.

Stock performance

Today, Jazz Pharmaceuticals (JAZZ) is trading at $169.28, which represents an ~1.12% increase from its closing price of $167.41 on August 24. The company’s August 24 stock price is ~10.0% below its 52-week high of $184.00 on June 20. On November 7, 2017, Jazz Pharmaceuticals hit its 52-week low of $128.58.

Analysts’ recommendations

Of the 22 analysts tracking Jazz Pharmaceuticals in August, ~77.0% of them recommended a “buy” while the rest recommended a “hold” rating.

On August 27, Jazz Pharmaceuticals had a consensus 12-month target price of $195.77, which represents an ~15.61% return on investment over the next 12 months.

Peers’ ratings

Of the 18 analysts tracking Alexion Pharmaceuticals (ALXN) in August, ~89.0% recommended a “buy.” Of the 23 analysts tracking Vertex Pharmaceuticals (VRTX), ~83.0% recommended a “buy.”

On August 27, Alexion Pharmaceuticals and Vertex Pharmaceuticals had consensus 12-month target prices of $158.41 and $196.52, respectively. Alexion Pharmaceuticals’ target price represents a return on investment of ~31.81% over the next 12 months. Vertex Pharmaceuticals’ target price represents an ~9.73% return on investment over the next 12 months.

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