Bruce Cozadd, Chairman and CEO of Jazz Pharmaceuticals plc (JAZZ), said the company has repurchased $160 million of its own stock at the Canaccord Genuity 34th Annual Growth Conference at the Intercontinental Hotel in Boston.
Jazz Pharmaceuticals PLC is a specialty biopharmaceutical company that develops products that treat narcolepsy and pain, while aiding in oncology and psychiatric care. Its products include Xyrem (narcolepsy), Prialt (pain), Erwinaze, Caphoslo, and Prostascint (oncology), and Fazaclo, Versacloz and LuvoxCR (psychiatry).
Cozadd said Jazz Pharmaceuticals would see “30% growth over 2014” with “products we believe still have a lot of growth, high margins, and exclusivity.” The company has bought back two million shares, Cozadd said, with margins of about “44% of every dollar” and “good growth on the bottom line.”
There is “good growth in revenues on the top line, with some core franchises exhibiting strong potential going forward, an active clinical pipeline, continued focus on enhancing and protecting our intellectual property,” Cozadd said. “Revenue will go right to the bottom line.”
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The company has seen “significant growth” for its Xyrem product, Cozadd said. Jazz has expanded its sales force from 80 to 100 and is calling on more physicians to discuss narcolepsy, where “over half the market remains undiagnosed,” Cozadd claimed. “We have made strides in disease awareness.”
The company has also started to run TV spots that describe the symptoms of narcolepsy, Cozadd said. “We are seeing a significant level of interest,” Cozadd said, adding that physicians have anecdotally remarked that the number of patients inquiring about the disease has increased.
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