There are an estimated 157,000 Americans who suffer from narcolepsy. More than 10,000 have turned to Xyrem in an attempt to win that battle. The drug has delivered stellar revenue growth for Jazz Pharmaceuticals ( JAZZ ). In Q1, sales of Xyrem soared by 60% from the prior year quarter to $117.5 million. Although it is not the only drug in Jazz's arsenal, it did account for 65.7% of product sales.
Jazz has a portfolio of drugs that target conditions including obsessive compulsive disorder and schizophrenia. Its No. 2 seller, Erwinaze, is used in the treatment of childhood cancer. To augment the growth from Xyrem sales, Jazz has been proactive on the M&A front. At the start of last year, the company merged with Azur Pharma in a $576.5 million all-stock transaction. The deal resulted in the company becoming a tax resident of Ireland with headquarters in Dublin. Read the full story.