AVDL - Why Jazz Pharmaceuticals' Symphony of Growth Is About to End
For years, Jazz Pharmaceuticals' (NASDAQ: JAZZ) success has been almost entirely dependent on that of Xyrem, a narcolepsy drug responsible for more than 70% of the company's revenue. The company's good fortune is likely to come to an end: Recently, Harmony Biosciences, Avadel Pharmaceuticals (NASDAQ: AVDL), and Axsome Therapeutics (NASDAQ: AXSM) have all developed (or are about to develop) branded competitors that will take market share away from Xyrem before its patent expires.
Narcolepsy is a chronic sleep disorder that causes an overwhelming desire to fall asleep during the day. Patients with the condition may also experience sudden, frequent, and uncontrolled loss of muscle control during the day, known as cataplexy. The condition affects more than 200,000 people in the United States.
IMAGE SOURCE: GETTY IMAGES