Jazz Pharmaceuticals is a specialty biopharma company focused on rare diseases, primarily in sleep disorders, rare epilepsies, and oncology. Jazz develops and sells branded drugs at premium prices to small patient populations with few treatment alternatives, relying on orphan drug exclusivity, patents, and in some cases REMS distribution restrictions to protect its products from generic competition. Two products generate roughly two-thirds of revenue: Xywav, a low-sodium oxybate for narcolepsy and idiopathic hypersomnia, and Epidiolex, the first FDA-approved cannabis-derived pharmaceutical, used to treat seizures in rare childhood epilepsies. Both address chronic, lifelong conditions, creating a recurring revenue base driven by active patient counts. The oncology portfolio includes Rylaze (the only recombinant erwinia asparaginase for ALL patients with E. coli asparaginase hypersensitivity), Zepzelca (small cell lung cancer), Ziihera (HER2-positive biliary tract cancer), and Modeyso (the first and only FDA-approved therapy for recurrent H3 K27M-mutant diffuse midline glioma). Jazz's growth strategy rests on commercial expansion of existing products, pipeline advancement centered on zanidatamab across multiple HER2-expressing tumor types, and ongoing M&A targeting rare disease assets with concentrated prescriber bases. Jazz has used acquisitions — most notably the $7.2B GW Pharmaceuticals deal in 2021 — to diversify away from its historical dependence on Xyrem, and frames M&A as a core capital allocation priority alongside R&D investment and debt repayment.