Jazz Pharmaceuticals plc (JAZZ): Business Model Canvas [Dec-2025 Updated]

You're looking at Jazz Pharmaceuticals plc right now, and honestly, it's a fascinating pivot point for a biopharma leader. After years built on neuroscience mainstays like Xywav, the company is aggressively shifting focus to oncology, trying to offset patent pressures while launching new assets like Ziihera and Modeyso. We see this strategic play reflected in their 2025 guidance, targeting revenues between $4.175 billion and $4.275 billion, all while pouring $720M-$770M into R&D to fuel that pipeline. If you want to see exactly how they are structuring their key partnerships, managing those high SG&A costs of $1.25B-$1.31B, and positioning their value proposition against rare diseases and cancer, dive into the full Business Model Canvas breakdown below.

Jazz Pharmaceuticals plc (JAZZ) - Canvas Business Model: Key Partnerships

You're looking at the structure of Jazz Pharmaceuticals plc (JAZZ) partnerships as of late 2025. This is where the real leverage is built, so let's look at the hard numbers tied to these collaborations.

Zymeworks Inc. for Ziihera (zanidatamab)

The deal with Zymeworks Inc. for zanidatamab, marketed as Ziihera, is a prime example of acquiring late-stage assets. Jazz Pharmaceuticals plc paid an upfront payment of $50.0 million upon entering the agreement in October 2022. Following the exercise of the option to continue development, a second, one-time payment of $325.0 million was made in the fourth quarter of 2022. The total potential consideration for Zymeworks Inc. stands at up to $1.76 billion, which includes regulatory and commercial milestone payments up to $1.4 billion. Zymeworks Inc. is also eligible for tiered royalties between 10% and 20% on Jazz Pharmaceuticals plc's net sales of the drug. A specific milestone payment of $25 million was earned by Zymeworks based on the U.S. Food and Drug Administration (FDA) accelerated approval of Ziihera in previously-treated, unresectable or metastatic HER2-positive biliary tract cancer (BTC) in November 2024. Peak sales estimates for Ziihera have been shared to potentially exceed $2 billion.

PharmaMar S.A. for Zepzelca (lurbinectedin)

Jazz Pharmaceuticals plc holds the exclusive U.S. license for PharmaMar S.A.'s Zepzelca (lurbinectedin), an agreement that started in December 2019. A significant recent financial event occurred in October 2025 when PharmaMar S.A. received a milestone payment of $50 million from Jazz Pharmaceuticals plc. This payment was tied to the FDA's full approval of the Zepzelca combination with atezolizumab as a first-line maintenance treatment for extensive-stage small cell lung cancer (ES-SCLC). Since its launch in 2020, Zepzelca grossed over $1.1 billion in revenue. For context on recent performance, Zepzelca net product sales were $63,033 (in thousands) in the first quarter of 2025.

BeOne Medicines for Zanidatamab in GEA

The development of zanidatamab in gastroesophageal adenocarcinoma (GEA) is conducted jointly with BeOne Medicines, operating under license agreements from Zymeworks Inc. The Phase 3 HERIZON-GEA-01 trial, which evaluates Ziihera plus chemotherapy, randomized 914 patients across more than 30 countries. Top-line progression-free survival (PFS) data from this Phase 3 trial in first-line GEA is anticipated in the fourth quarter of 2025.

Global Distribution and Commercialization Partners

For Epidyolex, Jazz Pharmaceuticals plc utilizes specialized partners for markets where it lacks a direct presence. Outside of the U.S., Epidyolex is approved in more than 35 countries. Net product sales for Epidiolex/Epidyolex increased 10% to $217.7 million in the first quarter of 2025 compared to the first quarter of 2024. The company remains confident in achieving blockbuster status for Epidiolex/Epidyolex in 2025.

Academic and Clinical Research Institutions

Pipeline development relies on data generation presented at key medical congresses. The Phase 3 IMforte trial for the Zepzelca combination involved 483 patients. Data from this trial was presented at the American Society of Clinical Oncology (ASCO) meeting in May-June 2025. Furthermore, Jazz Pharmaceuticals plc is presenting data for Ziihera at the American Society of Clinical Oncology Gastrointestinal Cancers Symposium (ASCO GI) from January 8-10, 2026. The company is focusing capital allocation, planning to reduce R&D spending in 2025 from the $630 million spent in 2024.

Jazz Pharmaceuticals plc (JAZZ) - Canvas Business Model: Key Activities

You're looking at the core engine driving Jazz Pharmaceuticals plc's performance as of late 2025. The Key Activities section of the Business Model Canvas is where the company spends its time and capital to deliver value, and right now, that's heavily weighted toward oncology pipeline execution and defending the established sleep franchise.

Conducting Advanced R&D, Especially in Oncology

Jazz Pharmaceuticals is pushing hard on its oncology assets, aiming for major inflection points. A key focus is zanidatamab, which was licensed in a deal potentially worth up to $1.76 billion plus royalties. Top-line data, including progression-free survival (PFS) results from the pivotal Phase 3 HERIZON-GEA-01 trial for zanidatamab as a first-line therapy in gastroesophageal adenocarcinomas (GEA), was expected in Q2 2025. Management has shared peak sales estimates for zanidatamab that could exceed $2 billion.

The company is also advancing the development of zanidatamab in other areas, having received Breakthrough Therapy designation for its development in previously treated HER2-positive biliary tract cancer (BTC).

Commercializing and Expanding Market Share for Key Products

The established neuroscience portfolio continues to be a massive revenue driver, even as generic competition looms. Total revenues for Jazz Pharmaceuticals in the third quarter of 2025 reached $1.126 billion, a 7% increase compared to Q3 2024.

The sleep therapeutic area generated total revenue of $520 million in Q3 2025. Within that, Xywav net product sales grew 11% year-over-year to $431 million. The combined oxybate business (Xyrem + Xywav) sales rose about 5% to $467 million in Q3 2025. Conversely, Xyrem sales plunged 39% year-over-year to nearly $36 million in Q3 2025, reflecting patient switching.

Epidiolex net product sales showed strong momentum, increasing 20% year-over-year to $303 million in Q3 2025. Management reiterated confidence in Epidiolex reaching blockbuster status by year-end.

Here's a quick look at the Q3 2025 commercial performance:

Managing Complex Regulatory Submissions

A major regulatory milestone was achieved for Zepzelca (lurbinectedin) in the first-line setting. Jazz Pharmaceuticals received Priority Review for the supplemental New Drug Application (sNDA) for the Zepzelca and Tecentriq combination as a first-line maintenance treatment for extensive-stage SCLC (ES-SCLC). The Prescription Drug User Fee Act (PDUFA) action date was set for October 7, 2025. The FDA granted approval on October 3, 2025. The data supporting this came from the Phase 3 IMforte trial, which showed the combination resulted in a median Overall Survival (OS) of 13.2 months versus 10.6 months for Tecentriq alone.

The company also launched Modeyso (dordaviprone) following an accelerated FDA approval on August 6, 2025. Modeyso generated $11 million in sales in Q3 2025, despite being on the market for less than two weeks of that quarter.

Strategic Corporate Development and M&A

Jazz Pharmaceuticals executed a significant acquisition to bolster its oncology portfolio, agreeing to acquire Chimerix for a total cash consideration of approximately $935 million, or $8.55 per share. This deal, which closed in the second quarter of 2025, brought dordaviprone (Modeyso) into the portfolio. The acquisition also resulted in the recognition of a $206 million deferred tax asset related to Chimerix's tax loss carryforwards.

The company's overall financial position remains strong, ending the first nine months of 2025 with about $2 billion in cash and investments, and generating about $1 billion in cash flow.

Protecting and Defending Intellectual Property

Defending the core sleep franchise against generic competition is a constant activity. This involved litigation, such as the case with Avadel CNS Pharmaceuticals over the '782 patent covering sustained-release formulations. In May 2025, the Federal Circuit issued a precedential ruling that narrowed the permanent injunction against Avadel, holding that injunctions prohibiting the initiation of new clinical trials or seeking FDA approval for new indications violate the Hatch-Waxman Act's safe harbor provision.

Management noted that they reached settlement agreements across all Xyrem antitrust litigation, which factored into the updated 2025 financial guidance.

• The company's management team is focused on executing strategy and maximizing value now that key litigation matters are behind them.
• The Federal Circuit ruling in Jazz Pharma v. Avadel CNS Pharma addressed the scope of the patent infringement safe harbor.
• The '782 patent was found valid and infringed, leading to an award of $233,500 in reasonable royalty damages in the district court.

Jazz Pharmaceuticals plc (JAZZ) - Canvas Business Model: Key Resources

You're looking at the foundational assets Jazz Pharmaceuticals plc holds to drive its business, especially as it navigates the late 2025 landscape with new product approvals and pipeline milestones. These resources are what back the company's strategy in both Neuroscience and Oncology.

Core intellectual property (IP) protecting key products like Xywav and Epidiolex.

The protection around the cannabinoid-based epilepsy drug, Epidiolex, is a significant asset, stemming from the $7.2 billion acquisition of GW Pharmaceuticals in 2021. For Epidiolex, patents are cited to run to 2035 and beyond according to the FDA's Orange Book. Furthermore, Jazz Pharmaceuticals plc has FDA regulatory exclusivity protecting the product until 2025 and 2027 for certain indications. In 2024, Epidiolex generated more than $972 million in sales. For Xywav, Orphan Drug Exclusivity for the narcolepsy indication extends through July 21, 2027, based on its demonstrated clinical superiority over Xyrem due to reduced chronic sodium burden.

Diversified commercial portfolio spanning Neuroscience and Oncology.

The commercial engine is split across two main therapeutic areas, providing diversification. As of year-to-date 2024, the Neuroscience segment generated net sales of $1.97 billion, which was 66% of the total year-to-date revenue of $2.98 billion. The Oncology franchise contributed 29% of the 2024 product revenues.

Here's a look at the revenue contribution from these key areas based on recent reporting:

Jazz Pharmaceuticals plc has five marketed products in the oncology space, including Zepzelca, Rylaze/Enrylaze, and the recently approved Ziihera (zanidatamab).

Specialized R&D expertise, including the GW cannabinoid platform.

The R&D strength is anchored by the expertise gained through the GW Pharmaceuticals acquisition, which established the company as a leader in the medical cannabinoid space. This expertise supports the continued development of Epidiolex and other pipeline assets. The company is also advancing late-stage oncology candidates like zanidatamab, which showed a median overall survival of 36.5 months in a Phase 2 trial for HER2-positive metastatic gastroesophageal adenocarcinoma (mGEA). The R&D focus is streamlined, with approximately six late-stage trials accounting for about 80% of near-term value creation.

Cash and equivalents of approximately $3 billion at the end of 2024.

You should note the balance sheet strength. As of December 31, 2024, Jazz Pharmaceuticals plc reported cash, cash equivalents, and investments totaling $3.0 billion. For context, as of September 30, 2024, the figure was $2.6 billion. The company also generated over $1.4 billion in cash from operations in 2024.

Highly specialized sales force targeting oncologists and neurologists.

The commercial execution relies on a highly specialized sales force dedicated to the two focus areas. For instance, the company has seen meaningful Xywav net patient adds, with approximately 14,150 active Xywav patients exiting Q4 2024, including about 10,250 narcolepsy patients. The oncology segment's growth is supported by the uptake of drugs like Zepzelca and Rylaze/Enrylaze.

Key sales force metrics include:

• Xywav net patient adds in 4Q24 were approximately 525 patients.
• Xywav net product sales grew 16% to $1,473.2 million in 2024.
• Oncology net product sales increased 10% in 2Q24 year-over-year.

The company intends to leverage its strong balance sheet to pursue additional business development in both neuroscience and oncology. Finance: draft 13-week cash view by Friday.

Jazz Pharmaceuticals plc (JAZZ) - Canvas Business Model: Value Propositions

You're looking at what Jazz Pharmaceuticals plc delivers to its customers-the core value that keeps prescriptions flowing and the pipeline funded. It's a focused strategy built around specialized medicine, which is clear when you look at the numbers behind their key products.

The first pillar is the low-sodium oxybate treatment, Xywav, for narcolepsy and idiopathic hypersomnia (IH). This is a significant differentiator because it's the only low-sodium oxybate therapy available. The market traction is solid; by the end of the third quarter of 2025, active patients totaled approximately 15,675, split between about 10,725 narcolepsy patients and roughly 4,950 IH patients, showing continued net patient adds of about 450 in that quarter alone. Net product sales for Xywav in 3Q25 hit $431.4 million, up 11% year-over-year, following $344.8 million in 1Q25 sales. Honestly, this franchise is proving resilient against competition.

Next up is the cannabinoid-based medicine, Epidiolex/Epidyolex, addressing rare, severe forms of epilepsy. This product continues to be a growth engine, showing double-digit percentage growth in 3Q25 net product sales. The company has maintained confidence in achieving blockbuster status for Epidiolex/Epidyolex in 2025. For context on its reach, Epidyolex is approved in more than 35 countries outside the U.S. In the first quarter of 2025, net product sales for Epidiolex/Epidyolex were $217.7 million.

The third major value driver is the targeted, novel oncology therapies, which now represent a substantial portion of the business-oncology net product sales reached $287.8 million in 3Q25, an increase of 1% year-over-year, driven by new launches. You see the impact of Zepzelca (lurbinectedin) and the newer agents:

This portfolio is specifically designed for addressing significant unmet medical needs in rare diseases and oncology. The acquisition of Chimerix for approximately $935 million brought in dordaviprone, targeting a rare, aggressive brain tumor in children and young adults. Furthermore, the company is banking on pipeline catalysts, with top-line progression-free survival (PFS) data from the pivotal Phase 3 trial for zanidatamab in 1L GEA expected before the end of 2025.

Finally, the commitment to operational excellence is a value proposition to shareholders, translating into financial discipline. The company's stated Vision 2025 included realizing a 5% adjusted operating margin improvement from 2021 to 2025. While the total revenue guidance was narrowed in 3Q25 to a range of $4.175 - $4.275 billion, this still reflects growth, underpinned by the performance of these specialized assets. Here's the quick math on the revenue guidance update:

• 2025 Total Revenue Guidance (Affirmed May 2025): $4.15 - $4.40 billion
• 2025 Total Revenue Guidance (Updated August/November 2025): $4.175 - $4.275 billion
• Growth at Midpoint (Original Affirmation): 5%
• Growth at Midpoint (Latest Update): 4%

Finance: draft 13-week cash view by Friday.

Jazz Pharmaceuticals plc (JAZZ) - Canvas Business Model: Customer Relationships

You're looking at how Jazz Pharmaceuticals plc manages its connections with the specialized, often critically ill, patient populations and the healthcare professionals who treat them. This isn't about mass-market outreach; it's about deep, focused support, which is essential when dealing with rare diseases and complex therapies.

High-touch, specialized patient support and Risk Evaluation and Mitigation Strategy (REMS) programs are central to maintaining access and ensuring safe use for products like Xywav. The company operates the JazzCares Program, accessible via 1-833-533-JAZZ (5299), which is designed to help patients who are uninsured or lack coverage for a specific Jazz product by offering a free-drug program, subject to financial and residency criteria. For titration support, the Nurse Navigator program is in place, which has reportedly led to substantial increases in persistency for patients reaching a therapeutically effective dose. Still, the REMS programs for products like Xywav and Xyrem have drawn public scrutiny from legislators and regulatory agencies regarding business practices as of early 2025.

The focus on rare diseases is concrete, especially with the launch of Modeyso (dordaviprone) for H3 K27M-mutant diffuse midline glioma (DMG). This product received accelerated approval from the FDA, and the commercial launch started in August 2025. The initial uptake translated to net product sales of $11.0 million in the third quarter of 2025. This launch demonstrates the commitment to serving ultra-rare patient groups.

Direct engagement with patient advocacy groups for rare diseases is a stated strategy that has helped drive uptake for key therapies. This relationship building is critical for ultra-rare indications like DMG, where the patient community is small and highly organized.

For specialized physician education, Jazz Pharmaceuticals plc relies on dedicated Medical Science Liaisons (MSLs). These field-based scientists function as an extension of the US Medical Affairs organization, providing scientific exchange and clinical support. Their expertise spans therapeutic areas including epilepsy, hematology, oncology, and sleep disorders. While a complete headcount isn't public, one organizational snapshot listed at least 10 individuals in the MSL team, covering roles from Senior Medical Science Liaison to Medical Lead.

The company cultivates long-term, trust-based relationships with key opinion leaders (KOLs) in neuroscience and oncology to support the scientific authority of their portfolio. This engagement is vital for complex data dissemination, such as the top-line progression-free survival data expected in Q4 2025 for zanidatamab in gastroesophageal adenocarcinoma (GEA).

Navigating insurance and access is supported by the JazzCares program, which directly addresses complex reimbursement hurdles. The success of this support structure is reflected in the growth of their core products, showing that patients are successfully accessing and staying on therapy. Here's a quick look at the patient base for their key neuroscience product as of late Q3 2025:

The overall confidence in the commercial portfolio, which includes Epidiolex and Xywav, led Jazz Pharmaceuticals plc to narrow its 2025 total revenue guidance range to $4.175 - $4.275 billion as of November 2025. Epidiolex itself showed double-digit percentage growth in Q3 2025.

The support structure is also visible in the MSL's role in supporting KOL activities and attending scientific congresses to stay current. The company's overall strategy is to apply its capabilities in rare and orphan diseases, even outside its current focus areas.

You can see the direct support mechanisms in action:

• Insurance Support: Investigating benefits and verifying patients' coverage.
• Access Support: Providing prior authorization and appeals information and support.
• Financial Support: Referring patients to financial assistance options for out-of-pocket costs.
• Rare Disease Engagement: Modeyso included in NCCN Clinical Practice Guidelines in Oncology shortly after launch.

Finance: draft 13-week cash view by Friday.

Jazz Pharmaceuticals plc (JAZZ) - Canvas Business Model: Channels

The Channels component of the Jazz Pharmaceuticals plc business model centers on specialized, regulated, and direct-to-specialist pathways to ensure appropriate patient access for its portfolio, particularly for controlled substances and oncology treatments.

Specialty pharmacies and closed distribution networks for controlled substances (Xywav/Xyrem)

Distribution for Xywav and Xyrem is strictly managed through a restricted program mandated by the U.S. Food and Drug Administration (FDA), known as the XYWAV and XYREM REMS (Risk Evaluation and Mitigation Strategy). This closed network dictates specific requirements for prescribers, dispensers, and patients.

• Healthcare Providers who prescribe XYWAV must be specially certified.
• XYWAV is dispensed only by the central pharmacy that is specially certified.
• Dispensing and shipping occur only to enrolled patients with documentation of safe use.

As of the end of the third quarter of 2025, the active patient base for Xywav was reported:

For the second quarter of 2025, Xyrem net product sales were $35.3 million, while royalties from high-sodium oxybate Authorized Generics (AGs) reached $54.1 million.

Direct sales force to specialized physicians (neurologists, epileptologists, oncologists)

Jazz Pharmaceuticals plc utilizes a dedicated commercial team to reach specialized physicians. This direct engagement is critical for promoting therapies like Xywav (for narcolepsy and IH) to neurologists and epileptologists, and for oncology products such as Zepzelca and the newly launched Modeyso to oncologists.

• Oncology net product sales for 3Q25 were $287.8 million.
• Neuroscience revenue, which includes Xywav and Epidiolex/Epidyolex, was $827.4 million in 3Q25.

Hospital and clinic procurement systems for oncology and acute care products (e.g., Rylaze)

Products like Rylaze/Enrylaze, used in acute care settings such as pediatric acute lymphoblastic leukemia (ALL) treatment protocols, are channeled through hospital and clinic procurement systems. Jazz Pharmaceuticals plc extends credit to pharmaceutical wholesale distributors and specialty pharmaceutical distribution companies, primarily in the U.S., as well as to international distributors and hospitals.

The Rylaze market segmentation by distribution channel includes:

Oncology net product sales, which include Rylaze, were $274.1 million in the second quarter of 2025.

Global distribution network for international markets (e.g., Epidyolex)

International market access for products like Epidiolex/Epidyolex relies on a global distribution network that includes international distributors and hospitals. Epidyolex is the trade name for Epidiolex in Europe and other countries outside the U.S.

• Epidiolex/Epidyolex net product sales increased 20% in 3Q25 compared to 3Q24.
• The drug is available in more than 35 countries outside the U.S.
• Year-to-date revenue for Epidiolex/Epidyolex surpassed $772 million as of September 30, 2025.
• Jazz executives expressed confidence the drug would cross the $1 billion threshold in 2025.

Jazz Pharmaceuticals plc (JAZZ) - Canvas Business Model: Customer Segments

You're looking at the specific groups of people and providers Jazz Pharmaceuticals plc targets with its specialized portfolio, which is heavily weighted toward neuroscience and oncology as of late 2025.

The core customer base for the neuroscience franchise is defined by the patient populations using their key therapies, particularly Xywav, which is the only low-sodium oxybate treatment option for these conditions.

The specific patient numbers for the Xywav franchise exiting the third quarter of 2025 give a clear picture of the immediate customer base in sleep/wake disorders:

• Patients with Narcolepsy and Idiopathic Hypersomnia (approximately 15,675 Xywav patients in 3Q25).
• This total is broken down into approximately 10,725 narcolepsy patients and approximately 4,950 idiopathic hypersomnia (IH) patients exiting 3Q25.

The epilepsy segment is served by Epidiolex (cannabidiol), which is indicated for patients one year of age and older suffering from specific seizure disorders.

• Patients with rare epilepsies: Lennox-Gastaut syndrome (LGS), Dravet syndrome (DS), and Tuberous Sclerosis Complex (TSC).

The oncology segment is diverse, covering hematology and several solid tumor indications, with recent product launches and pipeline readouts defining the current and near-term customer groups. Oncology net product sales were $287.8 million in 3Q25.

The oncology customer segments are:

• Oncology patients with small cell lung cancer (SCLC) and acute lymphoblastic leukemia (ALL/LBL). The Zepzelca and atezolizumab combination received U.S. FDA Priority Review for first-line (1L) ES-SCLC maintenance therapy, targeting a significant patient pool. Rylaze/Enrylaze net product sales were also a component of this segment.
• Oncology patients with HER2-positive biliary tract cancer (BTC) and gastroesophageal adenocarcinoma (GEA). Ziihera (zanidatamab-hrii) received conditional marketing authorization in the European Commission for second-line (2L) BTC. The addressable market for GEA was estimated globally at approximately 63,000 patients, compared to approximately 12,000 for BTC (based on earlier pipeline estimates). The launch of the new therapy Modeyso in August 2025 also targets a specific, ultra-rare brain tumor patient group (H3 K27M-mutant diffuse midline glioma).

The final, crucial segment involves the professionals who prescribe and administer these specialized medicines. These are the gatekeepers to the patient population.

• Specialized healthcare providers (HCPs) in neuroscience and oncology.

Here is a quick look at the revenue contribution from the key therapeutic areas in 3Q25 to understand the scale of these customer segments:

The growth in neuroscience revenue was driven by higher Epidiolex/Epidyolex and Xywav net product sales, which points directly to the active patient bases in those segments.

Jazz Pharmaceuticals plc (JAZZ) - Canvas Business Model: Cost Structure

You're looking at the major outflows for Jazz Pharmaceuticals plc as of late 2025, which are heavily weighted toward fueling future growth and supporting current commercial operations. The cost structure is dominated by two large, forward-looking buckets: Research & Development and commercialization expenses.

High R&D expenses are necessary to keep the pipeline moving, especially following recent acquisitions like Chimerix. This investment is critical for replacing revenue from products facing generic competition, like the now-settled Xyrem situation. To be fair, this spending reflects a commitment to long-term asset building.

• High R&D expenses to fuel pipeline growth (2025 non-GAAP guidance: $760M-$810M).
• Significant SG&A costs for commercialization (2025 non-GAAP guidance: $1.25B-$1.31B).
• Cost of specialized manufacturing and supply chain for complex drugs.
• Amortization of acquired intangible assets from M&A (e.g., GW Pharmaceuticals).
• Legal and settlement costs (e.g., Xyrem antitrust settlements of $172.0M in 1Q25).

The Selling, General & Administrative (SG&A) line is substantial, reflecting the sales force and marketing spend required to support a diversified portfolio including Xywav, Epidiolex, and the recently launched Modeyso. Here's the quick math on how the major operating expenses stack up based on recent figures and guidance:

The amortization of acquired intangible assets, which includes amounts from the GW Pharmaceuticals deal, is a significant, non-cash component of the cost base. For instance, Q1 2025 saw Intangible asset amortization of approximately $154.5 million. Also, note the inventory fair value step-up amortization, which was projected to be between $135 million and $155 million for the full year 2025.

Legal costs are lumpy but impactful. The settlement for the Xyrem antitrust claims was a one-time charge of $172.0 million, recorded in the first quarter of 2025. This charge directly impacted the SG&A line for that period, which rose significantly year-over-year.

Manufacturing costs, represented by Cost of Product Sales, are tied to the complexity of producing specialized drugs. For the first quarter of 2025, GAAP Cost of product sales was $839.4 million. This cost increased year-over-year due to changes in product mix and higher inventory provisions.

Finance: draft 13-week cash view by Friday.

Jazz Pharmaceuticals plc (JAZZ) - Canvas Business Model: Revenue Streams

You're looking at the core income drivers for Jazz Pharmaceuticals plc as of late 2025, focusing strictly on the numbers that define their revenue streams. Honestly, the story here is about a diversified portfolio delivering on guidance.

The top-line expectation for the full year 2025 is a total revenue guidance range of $4.175 billion to $4.275 billion. This reflects confidence following strong execution through the third quarter.

The primary revenue sources flow from two main segments: Neuroscience and Oncology, with the Neuroscience segment including the high-sodium oxybate authorized generic royalty revenue.

Net product sales from Xywav (low-sodium oxybate) continue to be a significant driver. For the third quarter of 2025, Xywav net product sales hit $431.4 million, marking an 11% increase compared to the third quarter of 2024. At the end of 3Q25, Jazz Pharmaceuticals plc had approximately 15,675 active Xywav patients.

Net product sales from Epidiolex/Epidyolex are clearly on a path to blockbuster status, having generated $972 million in net product sales for the full year 2024. In the third quarter of 2025, Epidiolex/Epidyolex saw double-digit percentage growth, contributing to the overall Neuroscience revenue increase.

The Oncology portfolio is expanding its contribution, now including the newly launched Modeyso. Oncology net product sales for the third quarter of 2025 totaled $287.8 million, a 1% increase year-over-year, driven by new product sales offsetting declines in other established products.

Here's a quick look at the most recent quarterly revenue components contributing to the full-year outlook:

The Oncology segment's performance in the third quarter of 2025 included specific contributions:

• Net product sales from Zepzelca and Rylaze/Enrylaze were lower compared to the prior year period.
• Ziihera contributed to the 3Q25 oncology total.
• Modeyso, approved in August 2025 for H3 K27M-mutant DMG, added $11.0 million in net product sales in 3Q25.

The high-sodium oxybate authorized generic royalty revenue is bundled within the Total Neuroscience Revenue figure. For instance, in 3Q25, this total was $827.4 million, reflecting growth from Xywav and Epidiolex/Epidyolex, partially offset by decreased Xyrem net product sales.

Finance: draft 13-week cash view by Friday.