Key Highlights

  • JAZZ reported record third quarter 2026 Revenue of $1.243 billion, up from $1.126 billion a year earlier.
  • The net loss was $483.4 million, or $7.48 per diluted share, versus Net Income of $251.4 million, or $4.08.
  • Xywav net sales rose 12% to $483 million, and oncology revenue grew 35%.
  • Full-year 2026 revenue guidance was raised and narrowed to $4.775 billion to $4.85 billion.
  • Cash and investments totaled $2.9 billion after an $820 million Acquisition payment.

Record Revenue of $1.243 Billion Led by Xywav and a 35% Oncology Surge

Jazz Pharmaceuticals (NASDAQ:JAZZ) reported results for the third quarter ended Sep 30, 2026 on Nov 2, 2026. Total revenue reached a record $1.243 billion, up about 10% from $1.126 billion, with product sales of $1.197 billion and royalties and contract revenue of $46.5 million. Nine-month revenue was $3.52 billion versus $3.07 billion.

The Irish-incorporated company develops medicines for rare diseases, with a portfolio spanning sleep disorders, epilepsy and cancer. Xywav net sales increased 12% to $483 million after about 425 net patient additions, while Epidiolex sales were $295 million. Management said Epidiolex growth was held back by tougher gross-to-net comparisons and a smaller inventory build.

Ziihera Launch, Zepzelca Growth and Modeyso Pace Shape the Oncology Story

Ziihera generated $21 million in its first quarter on the market for first-line HER2-positive metastatic gastroesophageal adenocarcinoma. Management said new-account ordering tripled in September versus August and updated its peak sales potential for the drug to $3 billion to $5 billion. Zepzelca sales rose 32% to $104 million, while Modeyso has generated about $200 million since launch.

Management cautioned that Modeyso revenue pace may be more measured until overall survival data from the Phase III ACTION trial, expected in the first half of 2027. It also flagged a competitor launch in 2027 as a likely future headwind for Zepzelca. The third quarter had 13 U.S. oncology shipping weeks versus 14 a year earlier, a 9 percentage point drag on U.S. oncology growth.

$754 Million Actio Charge Turns Quarter to a Loss Despite Record Sales

The company completed its acquisition of Actio Biosciences on Sep 15, 2026, paying $820.0 million net of cash acquired, with up to $500.0 million more tied to milestones. The deal added ABS-1230, a clinical-stage KCNT1 inhibitor for rare epilepsy, and was booked as a $754.2 million acquired in-process R&D expense. That pushed the operating result to a loss of $413.4 million and net loss to $483.4 million.

Management said non-GAAP loss per share was $3.88, and non-GAAP EPS would have been $7.15 excluding the charge. Selling, general and administrative expense fell to $407.9 million from $530.6 million, as the prior-year quarter carried $151.5 million of litigation settlement charges. Non-GAAP gross Margin declined 110 basis points on higher royalties and Manufacturing technology transfers.

Revenue Range Moves Above the Prior Outlook as ABS-1230 Data Approaches

The company raised and narrowed 2026 revenue guidance to $4.775 billion to $4.85 billion, about 13% growth at the midpoint, and expects rare sleep revenue of $2.125 billion to $2.175 billion. Non-GAAP gross margin guidance rose by 50 basis points to 90.5% to 91.5%. It issued $1.25 billion of convertible notes in the quarter and generated $1.3 billion of Operating Cash Flow in nine months.

Initial patient data for ABS-1230 are expected at a medical meeting this quarter, and a new Epidiolex capsule has a U.S. FDA decision date of Apr 16, 2027. The chief commercial officer also plans to retire once a successor is named.