Jazz Pharmaceuticals (JAZZ): Jazz Pharma's Q1 profit jumps to $21.8M...

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Friday, 05/06/2011 4:21:57 AM

Friday, May 06, 2011 4:21:57 AM

Jazz Pharma's Q1 profit jumps to $21.8M

Jazz Pharmaceuticals Inc. on Tuesday reported first quarter net income of $21.8 million, or 48 cents a share, compared to $1.5 million, or 4 cents a share in the same period last year.
Palo Alto-based Jazz (NASDAQ:JAZZ) reported revenue of $50.9 million, up from the year-ago quarter's $35.2 million.
Excluding items, the company would have earned $26.8 million, or 59 cents a share.
"Our first quarter results reflect strong sales momentum for Xyrem," said CEO Bruce Cozadd. "We are committed to helping patients suffering from narcolepsy."
The company also said it will not proceed with the additional clinical studies to support the development of JZP-6 (sodium oxybate) in fibromyalgia requested by the Food and Drug Administration. This decision follows an internal analysis of the cost, development time and likelihood of regulatory success associate

http://www.bizjournals.com/sanjose/news/2011/05/03/jazz-pharmas-q1-profit-jumps-to-218m.html