Sales at Irish-headquartered Jazz Pharma rise 12%

Total revenues at Irish-headquartered Jazz Pharmaceuticals increased 12 per cent in 2016 to $1.5 billion (€1.42 billion ), while net income rose 14 per cent to $397 million.

Net income for the fourth quarter was $116.7 million, or $1.91 per diluted share, compared to $82.8 million, or $1.32 per diluted share, for the fourth quarter of 2015. Net income per share for the year was $6.41, compared to $5.23 the previous year.

The speciality pharma company, whose biggest drug is Xyrem, which treats the sleep disorder narcolepsy, was delivering "solid growth", for its key products, according to Bruce Cozadd, chief executive. Xyrem sales were 16 per cent ahead of 2015 levels and accounted for more than $1 billion of company revenue.

“We are looking forward to a busy and productive 2017, building on our investments in internal and acquired R&D programs over the last few years,” he said.

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Sales of defitelio , used to treat a potentially life-threatening complication of stem cell transplantation, were 61 per cent ahead in the fourth quarter and 54 per cent higher for the year, compared to the same period last year, following the drug’s launch in the US in April.