Jazz Pharmaceuticals PLC at JPMorgan Healthcare Conference Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Jess Fye - JPMorgan - Analyst : Maybe just first for Bruce. You mentioned that you're retiring at the beginning of the presentation. Why is now the right time to pass the baton?

Question: Jess Fye - JPMorgan - Analyst : What are the kind of priorities the Board is looking for in the next leader?

Question: Jess Fye - JPMorgan - Analyst : Got it. So given that kind of we're entering a period of leadership transition, it could be internal or it could be external. Does that kind of raise the bar for what a potential deal we'd have to deliver this year if you were to pursue it? Like does it really have to be worth it? Because if somebody external who's walking in and you're sort of like integrating a new asset, I don't know how that really works.

Question: Jess Fye - JPMorgan - Analyst : So while we're on this, can you maybe recap what the company's business development priorities are, whether it's therapeutic area or commercial versus development stage or size of deal?

Question: Jess Fye - JPMorgan - Analyst : So maybe turning to the oxybate franchise. So you've done this, frankly, remarkable job of continuing to deliver net patient adds for Xywav in narcolepsy even in the face of competition, not to mention the growth that we see in IH. But based on the stock price, I get the sense that investors are still reluctant to give you credit for that business being durable. What do you think is maybe misunderstood about whether it's the narcolepsy market or Jazz's oxybate business?

Question: Jess Fye - JPMorgan - Analyst : Great. Maybe we can touch on the orexin class. You guys have an early-stage asset there. There's other companies further along in development. Is this class complementary to competitive with oxybate? And how do you envision it fitting in?

Question: Jess Fye - JPMorgan - Analyst : Maybe switching to Ziihera, can you spend a little more time on the market opportunity and your lead indication here in second-line BTC? What's the addressable market there? And what's the right way to think about duration of therapy?

Question: Jess Fye - JPMorgan - Analyst : And then what about in first-line HER2 positive GEA? What makes you confident that that is a derisked study? Unidentified Participant I would say because Rob told me, so maybe Rob should answer this question.

Question: Jess Fye - JPMorgan - Analyst : What about -- I know we're getting a PFS update here in 2Q, right? How long after that might we get the OS results?

Question: Jess Fye - JPMorgan - Analyst : And like how far after the PFS results in that first look, like, how long do we have to wait for the second and the third?

Question: Jess Fye - JPMorgan - Analyst : Okay. And then Zepzelca is moving up to the front line. I would imagine as that occurs that it will kind of cannibalize the second-line opportunity to some extent. What's the right way to think about kind of the net increase in opportunity from that product moving upstream?

Question: Jess Fye - JPMorgan - Analyst : So we're in 2025, and you guys previously had given like a long-term outlook for 2025. What's the likelihood that Jazz does something like that again and provides long-term targets looking out to -- pick a year, 2030? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JANUARY 14, 2025 / 5:45PM, JAZZ.OQ - Jazz Pharmaceuticals PLC at JPMorgan Healthcare Conference Unidentified Participant I want to talk about our 2050 targets, though. Only 2050? Historically, we have not provided multiyear guidance in the company. We've typically given guidance for the year we're in when we report our fourth-quarter results from the prior year. I think that's going to be our standard approach going forward. There was a unique confluence of events that led us to want to help investors see through that initial competition period for oxybate because we're getting a lot of questions about that. Right now, I think our growth is a little more clear in terms of where it's coming from and obviously, with the opportunity to continue to do corp dev. So never say never. I'm not saying that confluence of events will never happen again. But we don't have a current plan in place to regularly update three, five or longer periods for guidance.

Question: Jess Fye - JPMorgan - Analyst : All right. Well, let's leave it there. Thank you. Unidentified Participant All right. Thanks, everyone.