Jazz Pharmaceuticals

Jazz brought in a record 1.24 billion dollars in revenue this quarter, up 10 percent from a year ago. It also raised its full year forecast to as high as 4.85 billion dollars, up from 4.75 billion before. Its top sleep drug, Xywav, grew 12 percent to 483 million dollars and added about 425 new patients in just three months.

In August, Jazz's cancer drug Ziihera won FDA approval for a hard to treat form of stomach and esophageal cancer. New results showed nearly 40 percent of patients were still alive after three years, and the main treatment guidelines doctors follow now list it as a preferred first choice. Jazz's whole cancer lineup brought in 387 million dollars this quarter, up from 288 million a year ago, helped by lung cancer drug Zepzelca jumping 32 percent.

Jazz lost 483 million dollars this quarter, compared with a 251 million dollar profit a year ago. Most of that loss came from a one time 754 million dollar charge for buying Actio, a small company whose epilepsy drug is still early in testing and has to prove itself. Buying companies like this can pay off, but the money goes out long before any comes back in.

Jazz owes 5.6 billion dollars and holds 2.9 billion dollars in cash. It also borrowed another 1.25 billion dollars this quarter. Meanwhile, sales of its epilepsy drug Epidiolex slipped 2 percent to 295 million dollars, and its older sleep drug Xyrem keeps shrinking, so more of the growth now depends on the new cancer drugs staying on track.