Jazz Pharmaceuticals, Inc. Morgan Stanley 24th Annual Global Healthcare Conference
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Good afternoon, everyone. I am Sean Lavin, head of U.S. Mid-Cap Biotech Equity Research here at Morgan Stanley, and welcome to the Morgan Stanley Global Healthcare Conference. Before we commence, I need to make you aware of certain disclosures. For those disclosures, visit the Morgan Stanley Research Disclosure website at www.morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales representative. For this session, we have the pleasure of hosting from Jazz Pharmaceuticals, Chumi Khurana. Welcome, Chumi. Thank you, Sean.
Jack Spinks. Thank you to the both of you.
Thanks for having us. Jack, might throw it over to you.
I think you wanted to make some statements.
Yeah. Yeah. As we make any forward-looking statements, I would encourage you to look at our SEC filings filed on the 30th along with our earning statements.
And take a look at our risk factors. If I do refer to guidance today, that would be the guidance as spoken to on the 30th of this year. And maybe I will toss it over to Chumi just for a brief intro of the portfolio for those who might be new.
Yeah. Thank you, Jack. Thank you, Sean. Chumi Khurana, I lead the U.S. Oncology Commercial team at Jazz Pharmaceuticals, and it truly is a very exciting time at Jazz right now, specifically for the oncology team. We have shown great revenue growth in oncology, 32% year over year. In 2025, we crossed the billion-dollar mark. More importantly, we are bringing some truly innovative therapies to the marketplace. We have had three launches in the last year, Zepzelca and FORTE, Regimen, Modeyso, and most recently, just three weeks ago, our frontline launch in GEA. And we are very pleased with how we are performing. It is a transformative time. Oncology is going to be a growth driver for Jazz Oncology, and we really look forward to continuing the trajectory. Yeah. And with that, we can go to questions.
Okay. Thank you. Maybe just to zip through three quick macro questions we are asking all our companies. So first one is on China. How is the rise of China-originated innovation changing your competitive positioning, if at all, or your BD and R&D playbook?
Yeah. I think it's a good question, and I certainly think it's something we keep a close eye on, both from an R&D and a BD standpoint. I will say we have made it a focus of ours to continue doing smart business development across our three verticals in sleep, epilepsy, and rare oncology. We did recently hire, this year, Tom Riga, a new Chief Business Officer, to help us continue with that effort. It's something we're watching closely.
I don't think it's impacting us today, but certainly something we keep an eye on.
Sure. What about the adoption of AI across your business? First of all, are you? Second of all, can you point to somewhere where it's changed a decision, a cost outcome, or even a POS assumption?
Yeah, maybe I can start, and then I'll toss it over to Chumi for some specifics. I do think Jazz, as an innovative biopharma company, we are looking to leverage things like AI to improve the speed of drug development.
improve our decision-making, and really be more strategic overall. I know I use it quite extensively, and Chumi, I know her team is leveraging it quite well. I would love to toss it over to her for a couple examples.
Yeah, for sure. I think it is the way of business now, right? From the way that we communicate with each other, even internally, to how we are communicating externally, getting the insights of being faster, more agile. I think the goal for AI for my team specifically is to use it to get faster customer insights and action on it so that we can bring innovation and information to our customers as soon as possible.
Wonderful. Last question, just on the policy variable, which seems to be fairly stable at the moment, but which of the following do you consider the most important to your economics at the moment? Is it FDA, Medicare negotiation, MFN, tariffs, or global pricing?
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