Billionaire Seth Klarman’s Top 4 Biotech Stock Picks

3. Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Seth Klarman’s Stake Value: $87.203 million

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is an Ireland-based biopharma firm that is engaged in the identification, development, and commercialization of medicines, especially for narcolepsy, cancer, pain, and psychiatry.

On November 8, Jazz Pharmaceuticals plc (NASDAQ:JAZZ) announced its Q3 earnings result with a non-GAAP EPS of $4.84. The revenue of $972.14 million grew 3.3% YoY, topping the analysts’ estimates by $2.8 million.

On November 14, Jazz Pharmaceuticals plc (NASDAQ:JAZZ) reported that it has entered into an exclusive license and collaboration agreement with GSK plc (NYSE:GSK) spinout, Autifony Therapeutics for the development and commercialization of drug candidates against two ion channel targets associated with neurological disorders. The upfront and milestone payments are said to have a value of up to $770.5 million.

Aristotle Capital Management, LLC talked about Jazz Pharmaceuticals plc (NASDAQ:JAZZ) in its third quarter 2023 investor letter. Here is what it said:

“During the quarter, we sold our position in Magna International and invested in a new position, Jazz Pharmaceuticals plc (NASDAQ:JAZZ). Founded in 2003, Jazz Pharmaceuticals is a global biopharmaceutical company headquartered in Ireland. The drugmaker’s portfolio of nine approved products focuses on conditions with limited therapeutic treatments in neuroscience (~75% of 2022 revenue) and oncology (~25%).

Jazz’s drug Xyrem was added to its portfolio in 2005 and was approved for use in patients with narcolepsy. The drug’s strong efficacy propelled it to be the standard of care for this incurable sleep condition and has achieved wide adoption for the treatment of excessive daytime sleepiness and cataplexy (episodes of loss of muscle control)…

Xyrem’s patent exclusivity ended in January 2023, and authorized generic versions of the product have entered the market. To prepare for the patent cliff, the company developed Xywav, a lower‐sodium version of Xyrem, which is touted for its potentially better heart safety. The drug has received FDA approval for the treatment of narcolepsy and idiopathic hypersomnia and has orphan drug exclusivity through 2027…” (Click here to read the full text)