Jazz Raises 2026 Revenue Outlook After Record $1.24 Billion Quarter; Actio Charge Drives Loss
Jazz Pharmaceuticals raised its 2026 revenue outlook after record third-quarter sales of $1,243.0 million, even as a $754 million acquired R&D charge from its Actio Biosciences deal pushed the quarter to a loss.
Revenue rose 10.4% from $1,126.1 million a year earlier, according to its 8-K filed Monday. Jazz now expects full-year revenue of $4,775 million to $4,850 million, up from $4,600 million to $4,750 million in August.
The company posted a GAAP net loss of $483.4 million, or $7.48 a share, compared with net income of $251.4 million, or $4.08, a year ago. The non-GAAP adjusted loss was $3.88 a share versus adjusted earnings of $8.13. Jazz said the Actio in-process R&D charge reduced results by $11.32 a share on a GAAP basis and $11.03 on an adjusted basis.
Sleep and oncology lead
Xywav, Jazz's low-sodium oxybate for narcolepsy and idiopathic hypersomnia, grew 11.9% to $482.8 million. Jazz said new patient growth drove the gain, with an estimated 425 net patient adds in the quarter.
Oncology revenue rose 34.5% to $387.1 million. Zepzelca climbed 31.7% to $104.4 million, Modeyso contributed $61.1 million, and Ziihera brought in $20.6 million after its Aug. 25 FDA approval in first-line HER2-positive gastroesophageal adenocarcinoma.
Epidiolex/Epidyolex sales slipped 2.4% to $295.4 million, which Jazz attributed to lower U.S. gross-to-net deductions a year earlier and lighter wholesaler inventory build.
"Our third-quarter performance reflects sustained execution across the business and gives us confidence to raise our full-year total revenue guidance," CEO Renee Gala said.
Buybacks and balance sheet
Jazz sold $1.25 billion of 1.875% exchangeable senior notes due 2032 in a private placement and, alongside it, repurchased $225 million of its shares, exhausting its July 2024 buyback program. In October its board approved a new repurchase program of up to $500 million with no expiration date.
Cash, cash equivalents and investments stood at $2.9 billion at Sept. 30, against $5.6 billion of long-term debt principal. Cash from operations totaled $1.3 billion for the first nine months.
The company also raised its GAAP SG&A guidance to $1,544 million to $1,597 million from $1,506 million to $1,556 million to include restructuring expenses, and lifted its GAAP effective tax rate range to 20% to 30% from 0% to 10%.
By the numbers
- $1,243.0 million revenue, up 10.4%
- $(7.48) GAAP EPS, including the Actio charge
- $754 million acquired in-process R&D charge
- $4,775 million to $4,850 million raised 2026 revenue guidance
- $500 million new share repurchase authorization
Sources
- Jazz Pharmaceuticals Form 8-K with third-quarter 2026 results, filed Nov. 2, 2026 (accession 0001232524-26-000056)
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