After Robust 1Q Xyrem Sales and Settlement With Teva, Raising Jazz's FVE to $152
On the back of robust Xyrem growth in the first quarter and management’s updated sales guidance, we slightly increased our 2018 Xyrem growth forecast. In addition, we believe Jazz’s settlement with Xyrem ANDA filer Teva (formerly Watson), which was the largest generic threat to sales in our view, mitigates risk of generic entry before 2023. There are three ANDA filers outstanding. We are increasing our fair value estimate for Jazz to $152 per share from $149 to account for our updated Xyrem assu...Jazz Pharmaceuticals is a biopharmaceutical company focused on identifying, developing and commercializing products that address unmet medical needs. Co.'s products and product candidates focus on sleep and hematology/oncology. Co.'s products are: Xyrem® oral solution, which treats both cataplexy and excessive daytime sleepiness, in patients with narcoleps; Erwinaze®, which treats patients with acute lymphoblastic leukemia, who have developed hypersensitivity to E. coli-derived asparaginase; and Defitelio®, which treats adult and pediatric patients with hepatic veno-occlusive disease, with renal or pulmonary dysfunction following hematopoietic stem cell transplantation.
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