Jazz Pharmaceuticals PLC at JPMorgan Healthcare Conference (Virtual) Transcript

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

Question: Jessica Macomber Fye - JPMorgan Chase & Co, Research Division - Analyst : Great. Thanks, Bruce, for the presentation. And just as a reminder to folks, if you want to ask a question, click the blue button to send a question to me. I think first question that I have is on the long-term guidance, why now for that guidance?

Question: Jessica Macomber Fye - JPMorgan Chase & Co, Research Division - Analyst : Okay. Got it. Looking at our model, the $2 billion kind of total oxybate guidance comes in higher than we were. And I suspect higher than where a lot of people were. I'm curious where the disconnect is that you see between that number and where the Street is, whether it's Xywav in IH or AG revenues? When you look at where expectations were -- like where were they wrong?

Question: Jessica Macomber Fye - JPMorgan Chase & Co, Research Division - Analyst : Got a bunch of questions coming in on the portal. So thank you, everyone, for asking questions. This one here is on the 500 basis points of operating margin expansion. Can you provide some more color around the leverage and/or cost reductions, if there are any, and I guess bridge us from where we are to where we're going?

Question: Jessica Macomber Fye - JPMorgan Chase & Co, Research Division - Analyst : So another one here is, the guidance mentions $500 million from the pipeline or business development. Can you walk through which pipeline products will likely be on the market to contribute to that 2025 guidance?

Question: Jessica Macomber Fye - JPMorgan Chase & Co, Research Division - Analyst : So which pipeline assets might be kind of commercial by '25?

Question: Jessica Macomber Fye - JPMorgan Chase & Co, Research Division - Analyst : Okay.

Question: Jessica Macomber Fye - JPMorgan Chase & Co, Research Division - Analyst : So if I put this improved margin on the $5 billion revenue target, it looks like you could be doubling the cash flow looking out several years. So how do you think about deploying that cash that you're going to be generating?

Question: Jessica Macomber Fye - JPMorgan Chase & Co, Research Division - Analyst : Okay. Take another question from the investors here. On Epidiolex, can you provide some color on near-term and medium-term drivers, given we saw some slowdown in growth sequentially in 2021? How should we think about Epidiolex performance in the U.S. in 2022?

Question: Jessica Macomber Fye - JPMorgan Chase & Co, Research Division - Analyst : You alluded to the launch of Zepzelca and Rylaze is contributing to one of the elements of your long-term guidance. Now that we're a little further into the Rylaze launch, is there any updated color you can provide on how that's been going?

Question: Jessica Macomber Fye - JPMorgan Chase & Co, Research Division - Analyst : Is there any more Erwinaze like at any institutions that they like still have in their pharmacy? Or has it all gone now?

Question: Jessica Macomber Fye - JPMorgan Chase & Co, Research Division - Analyst : Got it. And then maybe the last one on Zepzelca. What's the next opportunity investors should be focused on for that product? Is it the confirmatory trial? Or is it the combination with Tecentriq for the opportunity in the front line setting?

Question: Jessica Macomber Fye - JPMorgan Chase & Co, Research Division - Analyst : Great. Well, with that, I think we're just about out of time. So we'll stop there. Thank you, guys, very much for the presentation, and thanks, everyone, for listening in.