Jazz Pharmaceuticals Updates 2021 Guidance To Include GW Pharma Acquisition

Jazz Pharmaceuticals plc JAZZ has updated its full-year 2021 financial guidance to incorporate the GW Pharmaceuticals business, which the company acquired on May 5.
Forecasts total net product sales of 3 billion to $3.1 billion in line with the consensus of $3.1 billion, compared to the earlier outlook of $2.5 billion - $2.7 billion.
The majority of the sales comes from the neuroscience franchise, with a 2021 estimate of $2.3 billion - $2.4 billion versus $1.8 billion - $1.9 billion.
Adjusted gross margin remains unchanged at 93%.
The company expects adjusted EPS of $13.40 - $14.70 below the consensus of $15.05. Earlier guidance for adjusted EPS stood at $15.65 - $16.85.
Jazz expects to generate 65% of 2022 revenues from products that have been launched or acquired since 2019.
It also expects strong cash flows and hence targes less than 3.5x net leverage by the end of 2022.
Price Action: JAZZ shares closed at $181.13 on Wednesday.

Earnings Calendar