Jazz Raises 2026 Revenue Outlook After Record Quarter

The Tip Desk · November 2, 2026 · 4 min read

Third-quarter revenue reached $1.243 billion, up 10%, as the company lifted its full-year range to $4.775 billion–$4.85 billion.

Jazz Pharmaceuticals plc (JAZZ) reported third-quarter 2026 total revenues of $1.243 billion, a 10% increase from a year earlier, and raised its full-year 2026 revenue outlook to $4.775 billion–$4.85 billion from the $4.60 billion–$4.75 billion range given with second-quarter results.

The global biopharma company said the year-over-year growth rate slowed from 16% in the second quarter and 19% in the first quarter. President and chief executive officer Renee Gala said the results reflected sustained execution and gave the company confidence to raise the full-year total revenue guidance.

GAAP net loss was $483.4 million, or $7.48 a share, compared with GAAP net income of $251.4 million, or $4.08 a share, a year earlier. Non-GAAP adjusted net loss was $250.8 million, or $3.88 a share, versus non-GAAP adjusted net income of $500.7 million, or $8.13 a share, a year earlier. The company said GAAP net loss and non-GAAP adjusted net loss included $754 million of acquired in-process research and development expense representing the value allocated to ABS-1230 (JZP6979) in the Actio acquisition, which impacted results by $11.32 a share on a GAAP basis and $11.03 a share on a non-GAAP adjusted basis.

Xywav net product sales were $483 million, up 12% from a year earlier, after 13% growth in the second quarter and 18% in the first. The company attributed the revenue to robust new patient growth, with about 425 net patient adds in the third quarter versus about 525 in the second. Active patients exiting the quarter numbered about 17,550, including about 11,375 narcolepsy patients and about 6,175 idiopathic hypersomnia patients.

Epidiolex/Epidyolex net product sales were $295 million, down 2% from a year earlier, reversing 16% growth in the second quarter and 15% growth in the first. The company said the third-quarter growth rate was negatively affected by lower U.S. gross-to-net deductions in the third quarter of 2025 and lower levels of inventory build in the third quarter of 2026 due to wholesaler buying patterns. The PDUFA target action date for the oral cannabidiol capsule NDA is April 16, 2027.

Ziihera net product sales were $21 million after FDA approval on August 25, 2026, and a prompt launch for first-line HER2-positive unresectable locally advanced or metastatic gastroesophageal adenocarcinoma. The company said the first full month of the launch showed about a 40% increase in average demand vials per selling day and a threefold increase in new ordering accounts, 80% of which are community based. NCCN guidelines were updated to include Ziihera combinations as a preferred first-line regimen.

Zepzelca net product sales were $104 million, up 32% from a year earlier, driven by continued uptake of the Zepzelca and atezolizumab combination in first-line maintenance extensive-stage small-cell lung cancer, partially offset by a decline in second-line use. On September 30, 2026, the FDA approved a label supplement removing the second-line indication. Modeyso net product sales were $61 million, with about 725 patients treated from the August 2025 launch through the end of the third quarter.

GAAP gross margin on total revenues was 91.1%. GAAP selling, general and administrative expenses were $407.9 million, or 32.8% of total revenues, primarily due to $152 million of litigation settlements in the third quarter of 2025, partially offset by $34 million of restructuring expenses in the third quarter of 2026. Research and development expenses were $211.9 million.

The company completed the Actio Biosciences acquisition in September 2026, adding ABS-1230 (JZP6979) to its rare epilepsy portfolio. It expects to present initial patient data from the Phase 1b/2a KYRON trial at a medical meeting in the fourth quarter of 2026. In the third quarter it issued $1.25 billion of 1.875% exchangeable senior notes due 2032 and repurchased $225 million of ordinary shares, exhausting the July 2024 program. In October 2026 the board approved a new $500 million share repurchase program with no expiration date. Cash, cash equivalents and investments were $2.9 billion as of September 30, 2026. For the nine months ended September 30, 2026, the company generated $1.3 billion of cash from operations.