JAZZ - Why Jazz Pharmaceuticals Sank 23% in 2021
Despite having a billion-dollar drug in its portfolio, the potential for backdoor entry into the marijuana market , and being consistently profitable for years, Jazz Pharmaceuticals (NASDAQ: JAZZ) was battered about the head by the stock market last year with its stock falling 22.8%, according to data provided by S&P Global Market Intelligence .
The decline started during the summer when Jazz reported second-quarter earnings that showed sales of its top sleep disorder drug, Xylem, plunged 25% from the prior year. While that's because patients were being transitioned over to its next-generation drug, Xywav, combined sales were only 3% higher.
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Why Jazz Pharmaceuticals Sank 23% in 2021