Jazz Pharmaceuticals plc (NASDAQ:JAZZ) Q3 2022 Earnings Call Transcript

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We’ve established excellent payer coverage for both narcolepsy and IH. You’ve heard today, we now have more narcolepsy patients on Xywav than Xyrem, another important milestone for the brand. And we’ve also, in the third quarter, now generated over 50 million of net sales in a single quarter with Xywav. So all of this points to meaningful progress and success for the brand and positions us really well as we prepare to enter 2023.

Bruce Cozadd: Kim?

Kim Sablich: Yes. So I’ll start off by talking about the US, and we have really seen a number of things giving us momentum here in the US and leading us to be optimistic about the future. And I think there are some of the themes that we’ve been talking about for the past year are looking for. The first is that, as Dan mentioned, our overall volume of engagement with HCPs has really been continuing to grow nicely quarter-over-quarter, which is really important to a product this early in the life cycle such as Epidiolex and given that we have a number of customers have yet to use it or utilize it broadly. So promotion and education efforts are absolutely important in this highly sensitive, promotionally-sensitive market that we’re operating in.

So that’s one. I think the second driver is as we’ve kind of talked about and predicted is that we’re really seeing this reality of HCPs getting more experience with Epidiolex, seeing what it can do for their patients, feeling more comfortable with the product and impressed and utilizing it more broadly. Dan mentioned that quantitatively, we’re also seeing this in terms of market research showing that HCPs are reporting that 60% of them versus a year ago, have moved Epidiolex up in their treatment algorithm. So that’s working exactly as we had predicted and had been seeing early on. So lots of great momentum. And then the last one I’ll point to is we’ve been talking all year, again, about our promotional focus and effort in terms of trying to get HCPs to utilize the product for the first time or more broadly by sharing that combination data that we have with Clobazam.

It has been very impressive. It really does when they see that there’s a synergistic effect of using these two products together and that most of their patients are already on Clobazam. And its ability to reduce this combination seizures by 60% in LGS and Dravet, 50% in TSC, it really does give them pause. And until they tell us it’s highly motivating for them to either try it for the first time or to utilize it in their patients who are already on Clobazam who really could benefit from further seizure reduction. So I look at those three things really as the major things putting wind in our sales and leading to both the 22% year-over-year growth we saw in the third quarter, but also leading to the optimism that we have that this product is going to continue to grow nicely and achieve blockbuster status.

And that’s just the US. So I’ll turn it over to Dan to talk about our efforts outside the US.

Dan Swisher: Yes, I’ll just say a few words, because it’s largely consistent with some of the trends and growth drivers that Kim mentioned. Just as a reminder, we’re launched in 15 markets with 34 countries approved. And so, there’s still a series of rolling launches, both geographically and also as we’re adding TSC to the label, in some of those markets. What we are seeing is the same HCP engagement and it’s a promotionally sensitive brand. So that’s beneficial. The last major market to — in Europe is going to be France, and we did secure pricing and reimbursement, and we will be launching in that country where we’ve had a very successful sort of pre-launch experience through an ATU. So there’s already awareness in patients who’ve been benefiting from the drug on that and sort of moving that into a full commercial launch mode by the end of the year and into the full commercial benefit for next year.

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