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Derivative Instruments and Hedging Activities - Schedule of Offsetting Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Gross Amounts Not Offset in the Consolidated Balance Sheet
Derivative asset, statement of financial position [Extensible Enumeration]	Other non-current assets	Other non-current assets
Gross Amounts Not Offset in the Consolidated Balance Sheet
Derivative liability, statement of financial position [Extensible Enumeration]	Other non-current liabilities	Other non-current liabilities
Pro Forma
Derivative assets
Gross Amounts of Recognized Assets/ Liabilities	$ 3,241	$ 21,819
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet	3,241	21,819
Gross Amounts Not Offset in the Consolidated Balance Sheet
Derivative Financial Instruments	(2,910)	(4,091)
Cash Collateral Received (Pledged)	0	0
Net Amount	331	17,728
Derivative liabilities
Gross Amounts of Recognized Assets/ Liabilities	(10,198)	(4,091)
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet	(10,198)	(4,091)
Gross Amounts Not Offset in the Consolidated Balance Sheet
Derivative Financial Instruments	2,910	4,091
Cash Collateral Received (Pledged)	0	0
Net Amount	$ (7,288)	$ 0

Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Carrying Amount of Indebtedness

The following table summarizes the carrying amount of our indebtedness (in thousands):


	December 31,
	2024		2023




2024 Notes	$	—	$	575,000
Unamortized - debt issuance costs	—		(1,046)

2024 Notes, net	—		573,954

2026 Notes	1,000,000		1,000,000
Unamortized - debt issuance costs	(3,747)		(6,400)

2026 Notes, net	996,253		993,600

2030 Notes	1,000,000		—
Unamortized - debt issuance costs	(19,135)		—
2030 Notes, net	980,865		—

Secured Notes	1,483,841		1,480,214

Term Loan	2,647,681		2,665,174


Total debt	6,108,640		5,712,942
Less current portion (1)	31,000		604,954
Total long-term debt	$	6,077,640	$	5,107,988

(1) Balance as of December 31, 2023 includes the 2024 Notes as they matured in August 2024.

Schedule of Maturities of Long-term Debt

Scheduled maturities with respect to our long-term debt are as follows (in thousands):


Year Ending December 31,	Scheduled Long-Term Debt Maturities
2025	$	31,000
2026	1,031,000
2027	31,000
2028	2,598,500
2029	1,500,000
Thereafter	1,000,000
Total	$	6,191,500

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2024

Payables and Accruals [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):


	December 31,
	2024		2023
Rebates and other sales deductions	$	342,717	$	325,711
Employee compensation and benefits	153,133		121,209
Clinical trial accruals	49,962		44,757
Accrued interest	41,626		36,443
Accrued royalties	36,802		30,706
Accrued milestones	27,500		—
Selling and marketing accruals	26,981		14,743
Sales return reserve	26,428		20,435
Consulting and professional services	26,221		19,538
Inventory-related accruals	25,509		13,977
Accrued development expenses	23,099		15,431
Accrued collaboration expenses	18,005		10,158
Current portion of lease liabilities	14,779		19,447
Derivative instrument liabilities	10,198		681
Accrued construction-in-progress	10,061		5,141

Accrued facilities expenses	6,107		55,455

Other	71,819		60,082
Total accrued liabilities	$	910,947	$	793,914

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

The consolidated financial statements have been prepared in accordance with U.S. GAAP, and include the accounts of Jazz Pharmaceuticals plc and our subsidiaries. Intercompany transactions and balances have been eliminated. Our consolidated financial statements include the results of operations of businesses we have acquired from the date of each acquisition for the applicable reporting periods.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures in the consolidated financial statements and accompanying notes. Management bases its estimates on historical experience and on assumptions believed to be reasonable under the circumstances. Actual results could differ materially from those estimates.

Adoption of New Accounting Standards

In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures”, which requires enhanced disclosures about significant segment expenses. The amendments are effective retrospectively to all prior periods presented in the financial statements, for fiscal years beginning after December 15, 2023. The new guidance has not had a material impact on our financial statement disclosures.

Significant Risks and Uncertainties

We expect that our business will continue to meaningfully depend on oxybate revenues; however, there is no guarantee that oxybate revenues will remain at current levels. In this regard, our ability to maintain oxybate revenues and realize the anticipated benefits from our investment in Xywav are subject to a number of risks and uncertainties including, without limitation, those related to the commercialization of Xywav for the treatment of IH in adults and adoption in that indication; competition from the introduction of two AG versions of high-sodium oxybate and a branded fixed-dose, high-sodium oxybate, Avadel’s Lumryz, for treatment of cataplexy and/or EDS in narcolepsy in the U.S. market, as well as potential future competition from additional AG versions of high-sodium oxybate and from generic versions of high-sodium oxybate and from other competitors; increased pricing pressure from, changes in policies by, or restrictions on reimbursement imposed by, third party payors, including our ability to maintain adequate coverage and reimbursement for Xywav; increased rebates required to maintain access to our products; challenges to our intellectual property around Xywav and/or Xyrem, including from pending antitrust and intellectual property litigation; and continued acceptance of Xywav and Xyrem by physicians and patients. A significant decline in oxybate revenues could cause us to reduce our operating expenses or seek to raise additional funds and would have a material adverse effect on our business, financial condition, results of operations and growth prospects, including on our ability to acquire, in-license or develop new products to grow our business.

In addition to risks related specifically to Xywav and Xyrem, we are subject to other challenges and risks related to successfully commercializing a portfolio of oncology products and other neuroscience products, and other risks specific to our business and our ability to execute on our strategy, as well as risks and uncertainties common to companies in the pharmaceutical industry with development and commercial operations, including, without limitation, risks and uncertainties associated with: ongoing clinical research activity and related outcomes; obtaining regulatory approval of our late-stage product candidates; effectively commercializing our approved products such as Epidiolex, Rylaze, Zepzelca and Ziihera; obtaining and maintaining adequate coverage and reimbursement for our products; contracting and rebates to pharmacy benefit managers and similar organizations that reduce our net revenue; increasing scrutiny of pharmaceutical product pricing and resulting changes in healthcare laws and policy; market acceptance; regulatory concerns with controlled substances generally and the potential for abuse; future legislation; action by the U.S. Federal Government authorizing the sale, distribution, use, and insurance reimbursement of non-FDA approved cannabinoid products; delays or problems in the supply of our products; loss of single source suppliers or failure to comply with manufacturing regulations; delays or problems with third parties that are part of our manufacturing and supply chain; identifying, acquiring or in-licensing additional products or product candidates; our ability to realize the anticipated benefits of acquired or in-licensed products or product candidates, such as Epidiolex and Ziihera, at the expected levels, with the expected costs and within the expected timeframe; pharmaceutical product development and the inherent uncertainty of clinical success; the challenges of protecting and enhancing our intellectual property rights; complying with applicable regulatory requirements; and possible restrictions on our ability and flexibility to pursue certain future opportunities as a result of our substantial outstanding debt obligations.

Concentrations of Risk

Financial instruments that potentially subject us to concentrations of credit risk consist of cash, cash equivalents, investments and derivative contracts. Our investment policy permits investments in U.S. federal government and federal agency securities, corporate bonds or commercial paper issued by U.S. corporations, money market instruments, certain qualifying money market mutual funds, certain repurchase agreements, and tax-exempt obligations of U.S. states, agencies and municipalities and places restrictions on credit ratings, maturities, and concentration by type and issuer. We are exposed to credit risk in the event of a default by the financial institutions holding our cash, cash equivalents and investments to the extent recorded on the balance sheet.

We manage our foreign currency transaction risk and interest rate risk within specified guidelines through the use of derivatives. All of our derivative instruments are utilized for risk management purposes, and we do not use derivatives for speculative trading purposes. As of December 31, 2024 and 2023, we had foreign exchange forward contracts with notional amounts totaling $461.2 million and $511.7 million, respectively. As of December 31, 2024 and 2023, the outstanding foreign exchange forward contracts had a net liability fair value of $7.9 million and a net asset fair value of $17.4 million, respectively. As of December 31, 2024 and 2023, we had interest rate swap contracts with notional amounts totaling $500.0 million. As of December 31, 2024 and 2023, these outstanding interest rate swap contracts had a net asset fair value of $1.0 million and $0.4 million, respectively. The counterparties to these contracts are large multinational commercial banks, and we believe the risk of nonperformance is not significant.

We are also subject to credit risk from our accounts receivable related to our product sales. We monitor our exposure within accounts receivable and record a reserve against uncollectible accounts receivable as necessary. We extend credit to pharmaceutical wholesale distributors and specialty pharmaceutical distribution companies, primarily in the U.S., and to other international distributors and hospitals. Customer creditworthiness is monitored and collateral is not required. We monitor economic conditions in certain European countries which may result in variability of the timing of cash receipts and an increase in the average length of time that it takes to collect accounts receivable outstanding. Historically, we have not experienced significant credit losses on our accounts receivable and as of December 31, 2024, allowances on receivables were not material. As of December 31, 2024, five customers accounted for 80% of gross accounts receivable, including ESSDS, which accounted for 39% of gross accounts receivable, ASD, which accounted for 15% of gross accounts receivable and McKesson, which accounted for 13% of gross accounts receivable. As of December 31, 2023, five customers accounted for 79% of gross accounts receivable, including ESSDS, which accounted for 41% of gross accounts receivable, ASD, which accounted for 13% of gross accounts receivable and McKesson, which accounted for 11% of gross accounts receivable.

We depend on single source suppliers for most of our products, product candidates and their APIs. With respect to our oxybate products, the API is manufactured for us by a single source supplier and the finished products are manufactured both by us in our facility in Athlone, Ireland and by our U.S.-based supplier.

Business Acquisitions

Our consolidated financial statements include the results of operations of an acquired business from the date of acquisition. We account for acquired businesses using the acquisition method of accounting. The acquisition method of accounting for acquired businesses requires, among other things, that assets acquired, liabilities assumed and any noncontrolling interests in the acquired business be recognized at their estimated fair values as of the acquisition date, with limited exceptions, and that the fair value of acquired IPR&D, be recorded on the balance sheet. Also, transaction costs are expensed as incurred. Any excess of the acquisition consideration over the assigned values of the net assets acquired is recorded as goodwill. Contingent consideration is included within the acquisition cost and is recognized at its fair value on the acquisition date. A liability resulting from contingent consideration is remeasured to fair value at each reporting date until the contingency is resolved and changes in fair value are recognized in earnings.

Cash Equivalents and Investments

We consider all highly liquid investments, readily convertible to cash, that mature within three months or less from date of purchase to be cash equivalents.

Investments consist of time deposits with initial maturities of greater than three months. Collectively, cash equivalents and investments are considered available-for-sale and are recorded at fair value. Unrealized gains and losses, net of tax, are recorded in accumulated other comprehensive loss in shareholders’ equity. We use the specific-identification method for calculating realized gains and losses on securities sold. Realized gains and losses and declines in value judged to be other than temporary on investments are included in interest expense, net in the consolidated statements of income (loss).

Derivative Instruments and Hedging Activities

We record the fair value of derivative instruments as either assets or liabilities on the consolidated balance sheets. Changes in the fair value of derivative instruments are recorded each period in current earnings or other comprehensive income (loss), depending on whether a derivative instrument is designated as part of a hedging transaction and, if it is, the type of hedging transaction. For a derivative to qualify as a hedge at inception and throughout the hedged period, we formally document the nature and relationships between the hedging instruments and hedged item.

For derivatives formally designated as hedges, we assess both at inception and quarterly thereafter, whether the hedging derivatives are highly effective in offsetting changes in either the fair value or cash flows of the hedged item.

Gains or losses on cash flow hedges are reclassified from other comprehensive income (loss) to earnings when the hedged transaction occurs. If we determine that a forecasted transaction is no longer probable of occurring, we discontinue hedge accounting and any related unrealized gain or loss on the derivative instrument is recognized in current earnings.

We designate cross-currency interest rate swaps as fair value hedges to hedge foreign currency risks related to our borrowings denominated in currencies other than the U.S. dollar. Fair value hedge amounts included in the assessment of hedge effectiveness are recognized in foreign exchange gain (loss) within the consolidated statements of income (loss), along with the offsetting gains and losses of the related hedged item. We have elected to exclude the total forward points or currency basis from the assessment of hedge effectiveness and account for them as excluded components. The initial fair value of the excluded component is amortized to foreign exchange gain (loss) and the difference between changes in fair value of the excluded component and the amount recorded in earnings is recorded in other comprehensive income (loss).

Derivatives that are not designated and do not qualify as hedges are adjusted to fair value through current earnings.

Inventories

Inventories are valued at the lower of cost or net realizable value. Cost is determined using the first-in, first-out method for all inventories. Our policy is to write down inventory that has become obsolete, inventory that has a cost basis in excess of its expected net realizable value and inventory in excess of expected requirements. The estimate of excess quantities is subjective and primarily dependent on our estimates of future demand for a particular product. If our estimate of future demand changes, we consider the impact on the reserve for excess inventory and adjust the reserve as required. Increases in the reserve are recorded as charges in cost of product sales.

We capitalize inventory costs associated with our products prior to regulatory approval when, based on management's judgment, future commercialization is considered probable and the future economic benefit is expected to be realized; otherwise, such costs are expensed as research and development. The determination to capitalize inventory costs is based on various factors, including status and expectations of the regulatory approval process, any known safety or efficacy concerns, potential labeling restrictions, and any other impediments to obtaining regulatory approval. We had no pre-approval inventory on our consolidated balance sheet as of December 31, 2024 or 2023.

Our inventory production process for our cannabinoid products includes the cultivation of botanical raw material. Because of the duration of the cultivation process, a portion of our inventory will not be sold within one year. Consistent with the practice in other industries that cultivate botanical raw materials, all inventory is classified as a current asset.

Property, Plant and Equipment

Property, plant and equipment are stated at cost, less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Estimated useful lives are as follows:


Buildings			40 years
Manufacturing equipment and machinery			4-20 years
Computer software and equipment			3-7 years
Furniture and fixtures			5 years

Leasehold improvements are amortized over the shorter of the noncancelable term of our leases or their economic useful lives. Maintenance and repairs are expensed as incurred.

Leases

We determine if an arrangement is a lease at inception. Leases are classified at lease commencement as either operating leases or finance leases. Operating leases are included in operating lease assets, accrued liabilities, and operating lease liabilities on our consolidated balance sheets. Finance lease assets are included in property, plant and equipment, net, and finance lease liabilities are included in accrued liabilities and other non-current liabilities in our consolidated balance sheets. Lease assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. In determining the net present value of lease payments, we use our incremental borrowing rate based on the information available at the lease commencement date. The lease asset also includes any lease payments made, reduced by lease incentives and increased by initial direct costs incurred. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Operating lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Finance lease expense is recognized as depreciation expense of property, plant and equipment and interest expense on finance lease liabilities.

We have lease agreements with lease and non-lease components, which are generally accounted for separately. For vehicle leases we account for the lease and non-lease components as a single lease component.

We have elected the short-term lease exemption and, therefore, do not recognize a lease asset or corresponding liability for lease arrangements with an original term of 12 months or less. Rent expense under short-term leases is recognized on a straight-line basis over the lease term.

Goodwill

Goodwill represents the excess of the acquisition consideration over the fair value of assets acquired and liabilities assumed. We have determined that we operate in a single segment and have a single reporting unit associated with the development and commercialization of pharmaceutical products. In performing the annual impairment test, the fair value of the reporting unit is compared to its corresponding carrying value, including goodwill. If the carrying value exceeds the fair value of the reporting unit an impairment loss will be recognized for the amount by which the reporting unit’s carrying amount exceeds its fair value, not to exceed the carrying amount of goodwill. We test goodwill for impairment annually in October and when events or changes in circumstances indicate that the carrying value may not be recoverable.

Acquired In-Process Research and Development

The initial costs of rights to IPR&D projects acquired in an asset acquisition are expensed as IPR&D unless the project has an alternative future use. The fair value of IPR&D projects acquired in a business combination are capitalized and accounted for as indefinite-lived intangible assets until the underlying project receives regulatory approval, at which point the intangible asset will be accounted for as a finite-lived intangible asset, or discontinued, at which point the intangible asset will be written off. Development costs incurred after an acquisition are expensed as incurred.

Intangible Assets

Intangible assets with finite useful lives consist primarily of purchased developed technology and are amortized on a straight-line basis over their estimated useful lives, which range from seven to sixteen years. The estimated useful lives associated with finite-lived intangible assets are consistent with the estimated lives of the associated products and may be modified when circumstances warrant. Such assets are reviewed for impairment when events or circumstances indicate that the carrying value of an asset may not be recoverable. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use of an asset and its eventual disposition are less than its carrying amount. The amount of any impairment is measured as the difference between the carrying amount and the fair value of the impaired asset.

Revenue Recognition

Our revenue is comprised of product sales, net and royalties and contract revenues. Revenues are recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Prior to recognizing revenue, we make estimates of the transaction price, including variable consideration that is subject to a constraint. Amounts of variable consideration are included in the transaction price to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved.

Product Sales, Net

Product sales revenue is recognized when control has transferred to the customer, which occurs at a point in time, which is typically on delivery to the customer or, in the case of products that are subject to consignment agreements, when the customer removes product from our consigned inventory location for shipment directly to a patient.

Reserves for Variable Consideration

Revenues from sales of products are recorded at the net sales price, which includes estimates of variable consideration for which reserves are established and which relate to returns, specialty distributor fees, wholesaler fees, prompt payment discounts, government rebates, government chargebacks, coupon programs and rebates under managed care plans and commercial payor contracts. Calculating certain of these reserves involves estimates and judgments and we determine their expected value based on sales or invoice data, contractual terms, historical utilization rates, new information regarding changes in these programs’ regulations and guidelines that would impact the amount of the actual rebates, our expectations regarding future utilization rates for these programs and channel inventory data. These reserves reflect our best estimates of the amount of consideration to which we are entitled based on the terms of the contract. A large portion of the reserve relates to rebates where there is significant judgment, in particular in the determination of the sales utilization percentage used to calculate the Epidiolex Medicaid rebate accrual. The amount of variable consideration that is included in the transaction price may be constrained, and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of

the cumulative revenue recognized will not occur in a future period. We reassess our reserves for variable consideration at each reporting date. Historically, adjustments to estimates for these reserves have not been material.

Reserves for returns, specialty distributor fees, wholesaler fees, government rebates, coupon programs and rebates under managed care plans and commercial payor contracts are included within current liabilities in our consolidated balance sheets. Reserves for government chargebacks and prompt payment discounts are shown as a reduction in accounts receivable.

Royalties and Contract Revenues

We enter into out-licensing agreements under which we license certain rights to our products or product candidates to third parties. If a licensing arrangement includes multiple goods or services, we consider whether the license is distinct. If the license to our intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, we recognize revenue from non-refundable, upfront fees allocated to the license when the license is transferred to the licensee and the licensee is able to use and benefit from the license. If the license to our intellectual property is determined not to be distinct, it is combined with other goods or services into a combined performance obligation. We consider whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue from non-refundable, upfront fees. We evaluate the measure of progress each reporting date and, if necessary, adjust the measure of performance and related revenue recognition.

At the inception of each arrangement that includes development milestone payments, we evaluate whether the milestones are considered probable of being reached and estimate the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within our control or that of the licensee, such as regulatory approvals, are not considered probable of being achieved until those approvals are received. The transaction price is allocated to each performance obligation on a relative stand-alone selling price basis, for which we recognize revenue as or when the performance obligations under the contract are satisfied. At the end of each subsequent reporting period, we re-evaluate the probability of achievement of such development milestones and any related constraint, and if necessary, adjust our estimate of the overall transaction price.

For arrangements that include sales-based royalties and milestone payments based on the level of sales, and the license is deemed to be the predominant item to which the royalties and sales-based milestones relate, we recognize revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty or sales-based milestone has been allocated has been satisfied (or partially satisfied).

Cost of Product Sales

Cost of product sales includes manufacturing and distribution costs, the cost of drug substance, royalties due to third parties on product sales, product liability and cargo insurance, FDA user fees, freight, shipping, handling and storage costs and salaries and related costs of employees involved with production. Excluded from cost of product sales shown on the consolidated statements of income (loss) is amortization of acquired developed technology of $627.3 million, $608.3 million and $599.2 million in 2024, 2023 and 2022, respectively.

Research and Development

Research and development expenses consist primarily of costs related to clinical studies and outside services, personnel expenses, and other research and development costs, including milestone payments incurred prior to regulatory approval of products. Clinical study and outside services costs relate primarily to services performed by clinical research organizations, clinical studies performed at clinical sites, materials and supplies, and other third party fees. Personnel expenses relate primarily to salaries, benefits and share-based compensation. Other research and development expenses primarily include overhead allocations consisting of various support and facilities-related costs. Research and development costs are expensed as incurred. For product candidates that have not been approved by FDA, inventory used in clinical trials is expensed at the time of production and recorded as research and development expense. For products that have been approved by FDA, inventory used in clinical trials is expensed at the time the inventory is packaged for the trial.

Advertising Expenses

We expense the costs of advertising, including promotional expenses, as incurred. Advertising expenses were $107.4 million, $92.2 million and $108.8 million in 2024, 2023 and 2022, respectively.

Income Taxes

We use the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between the financial statement carrying amount and the tax basis of assets and

liabilities and are measured using enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is provided to reduce deferred tax assets to the amount that is more-likely-than-not to be realized. We recognize the benefits of a tax position if it is more-likely-than-not of being sustained. A recognized tax benefit is then measured as the largest amount of tax benefit that is greater than fifty percent likely of being realized upon settlement. Interest and penalties related to income taxes are included in income tax expense and classified with the related liability on the consolidated balance sheets.

Foreign Currency

Our functional and reporting currency is the U.S. dollar. The assets and liabilities of our subsidiaries that have a functional currency other than the U.S. dollar are translated into U.S. dollars at the exchange rate prevailing at the balance sheet date with the results of operations of subsidiaries translated at the weighted average exchange rate for the reporting period. The cumulative foreign currency translation adjustment is recorded as a component of accumulated other comprehensive income (loss) in shareholders’ equity.

Transactions in foreign currencies are translated into the functional currency of the relevant subsidiary at the weighted average exchange rate for the reporting period. Any monetary assets and liabilities arising from these transactions are translated into the relevant functional currency at exchange rates prevailing at the balance sheet date or on settlement. Resulting gains and losses are recorded in foreign exchange gain (loss) in our consolidated statements of income (loss).

Deferred Financing Costs

Deferred financing costs are reported at cost, less accumulated amortization and are presented in the consolidated balance sheets as a direct deduction from the carrying value of the associated debt, with the exception of deferred financing costs associated with revolving-debt arrangements which are presented as assets. The related amortization expense is included in interest expense, net in our consolidated statements of income (loss).

Contingencies

From time to time, we may become involved in claims and other legal matters arising in the ordinary course of business. We record accruals for loss contingencies to the extent that we conclude that it is probable that a liability has been incurred and the amount of the related loss can be reasonably estimated. Legal fees and other expenses related to litigation are expensed as incurred and included in selling, general and administrative expenses.

Share-Based Compensation

We account for compensation cost for all share-based awards at fair value on the date of grant. The fair value is recognized as expense over the service period, net of estimated forfeitures, using the straight-line method. The estimation of share-based awards that will ultimately vest requires judgment, and, to the extent actual results or updated estimates differ from current estimates, such amounts will be recorded as a cumulative adjustment in the period estimates are revised. We primarily consider historical experience when estimating expected forfeitures.

Performance-Based Restricted Stock Unit Awards

PRSUs awarded to employees vest upon the achievement of certain performance criteria at the end of a specified performance period. For PRSUs granted prior to 2024, the amount of shares awarded will be subject to adjustment based on the application of a TSR modifier. For PRSUs granted in 2024, the relative TSR modifier represents one of the performance metrics. The estimated fair value of these PRSUs is based on a Monte Carlo simulation model. Compensation expense for PRSUs is recognized from the date the Company determines the performance criteria probable of being achieved to the date the award, or relevant portion of the award, is expected to vest. Cumulative adjustments are recorded on a quarterly basis to reflect subsequent changes to the estimated outcome of the performance criteria until the date results are determined.

Variable Interest Entity

In 2021, we invested in a protected cell as part of our directors’ and officers’ liability risk financing strategy. Based on our control and the structure of the protected cell, we concluded that Jazz is the primary beneficiary of the protected cell and is required to consolidate the protected cell. There was no insurance premium payable to the protected cell for the years ended December 31, 2024 and 2023 and it was immaterial for the year ended December 31, 2022. The protected cell’s assets and liabilities as of December 31, 2024 and 2023 were immaterial.

Recent Accounting Pronouncements

In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740) - Improvements to Income Tax Disclosures”, which requires enhanced income tax disclosures providing greater disaggregation of information in the

Company's effective tax rate reconciliation and disaggregates income taxes paid by jurisdiction. The amendments are effective on a prospective basis, with the option to apply it retrospectively, for fiscal years beginning after December 15, 2024. We are currently evaluating the impact of adopting this new accounting guidance.

In November 2024, the FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-04) - Disaggregation of Income Statement Expenses”, which requires additional disclosure in the notes to the financial statements of the nature of certain expenses included in the income statement. The amendments are effective on a prospective basis, with the option to apply it retrospectively, for fiscal years beginning after December 15, 2026. We are currently evaluating the impact of adopting this new accounting guidance.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 2,412,864	$ 1,506,310
Investments	580,000	120,000
Accounts receivable, net of allowances of $32,691 and $21,136 at December 31, 2024 and 2023, respectively	716,765	705,794
Inventories	480,445	597,039
Prepaid expenses	177,411	185,476
Other current assets	261,543	320,809
Total current assets	4,629,028	3,435,428
Property, plant and equipment, net	173,413	169,646
Operating lease assets	53,582	65,340
Intangible assets, net	4,755,695	5,418,039
Goodwill	1,716,323	1,753,130
Deferred tax assets, net	560,245	477,834
Deferred financing costs	9,489	6,478
Other non-current assets	114,482	67,464
Total assets	12,012,257	11,393,359
Current liabilities:
Accounts payable	77,869	102,750
Accrued liabilities	910,947	793,914
Current portion of long-term debt	31,000	604,954
Income taxes payable	18,757	35,074
Total current liabilities	1,038,573	1,536,692
Long-term debt, less current portion	6,077,640	5,107,988
Operating lease liabilities, less current portion	38,938	59,225
Deferred tax liabilities, net	676,736	847,706
Other non-current liabilities	86,614	104,751
Commitments and contingencies (Note 13)
Shareholders’ equity:
Ordinary shares, nominal value $0.0001 per share; 300,000 shares authorized; 60,631 and 62,255 shares issued and outstanding at December 31, 2024 and 2023, respectively	6	6
Non-voting euro deferred shares, €0.01 par value per share; 4,000 shares authorized, issued and outstanding at both December 31, 2024 and 2023	55	55
Capital redemption reserve	473	473
Additional paid-in capital	3,913,542	3,699,954
Accumulated other comprehensive loss	(947,667)	(842,147)
Retained earnings	1,127,347	878,656
Total shareholders’ equity	4,093,756	3,736,997
Total liabilities and shareholders’ equity	$ 12,012,257	$ 11,393,359

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Tax benefit effect on fair value hedging activities	$ 0	$ 0	$ (43)
Income tax expense on unrealized loss on hedging activities	1,760	1,215	0
Tax expense effect on cash flow hedging activities reclassified	$ 1,593	$ 1,137	$ 0

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans We maintain a qualified 401(k) savings plan, in which all U.S. based employees are eligible to participate, provided they meet the requirements of the plan. We match certain employee contributions under the 401(k) savings plan and for the years ended December 31, 2024, 2023 and 2022 we recorded expense of $16.4 million, $13.4 million and $10.6 million, respectively, related to this plan. We also operate a number of defined contribution retirement plans for certain non-U.S. based employees. Expenses related to contributions to such plans for the years ended December 31, 2024, 2023 and 2022 were $15.2 million, $14.0 million and $14.6 million, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

+ Details

Goodwill and Intangible Assets - Schedule of Gross Carrying Amounts and Net Book Values (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 7,713,412	$ 7,800,209
Accumulated Amortization	(2,957,717)	(2,382,170)
Total	$ 4,755,695	5,418,039
Acquired developed technologies
Finite-Lived Intangible Assets [Line Items]
Remaining Weighted- Average Useful Life (In years)	7 years 9 months 18 days
Gross Carrying Amount	$ 7,699,423	7,785,495
Accumulated Amortization	(2,943,728)	(2,367,456)
Total	$ 4,755,695	5,418,039
Manufacturing contracts
Finite-Lived Intangible Assets [Line Items]
Remaining Weighted- Average Useful Life (In years)	0 years
Gross Carrying Amount	$ 11,121	11,828
Accumulated Amortization	(11,121)	(11,828)
Total	$ 0	0
Trademarks
Finite-Lived Intangible Assets [Line Items]
Remaining Weighted- Average Useful Life (In years)	0 years
Gross Carrying Amount	$ 2,868	2,886
Accumulated Amortization	(2,868)	(2,886)
Total	$ 0	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

The gross carrying amount of goodwill was as follows (in thousands):


Balance at December 31, 2023	$	1,753,130


Foreign exchange	(36,807)
Balance at December 31, 2024	$	1,716,323

The gross carrying amounts and net book values of our intangible assets were as follows (in thousands):


	December 31, 2024							December 31, 2023
	Remaining Weighted- Average Useful Life (In years)	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Acquired developed technologies	7.8	$	7,699,423	$	(2,943,728)	$	4,755,695	$	7,785,495	$	(2,367,456)	$	5,418,039
Manufacturing contracts	—	11,121		(11,121)		—		11,828		(11,828)		—
Trademarks	—	2,868		(2,868)		—		2,886		(2,886)		—



Total finite-lived intangible assets		$	7,713,412	$	(2,957,717)	$	4,755,695	$	7,800,209	$	(2,382,170)	$	5,418,039

The decrease in the gross carrying amount of intangible assets as of December 31, 2024 compared to December 31, 2023 primarily relates to the negative impact of foreign currency translation adjustments due to the weakening of sterling and euro against the U.S. dollar.

The assumptions and estimates used to determine future cash flows and remaining useful lives of our intangible and other long-lived assets are complex and subjective. They can be affected by various factors, including external factors, such as industry and economic trends, and internal factors such as changes in our business strategy and our forecasts for specific product lines.

Based on finite-lived intangible assets recorded as of December 31, 2024, and assuming the underlying assets will not be impaired and that we will not change the expected lives of any other assets, future amortization expenses were estimated as follows (in thousands):


Year Ending December 31,	Estimated Amortization Expense

2025	$	618,043
2026	618,043
2027	618,043
2028	616,711
2029	614,977
Thereafter	1,669,878
Total	$	4,755,695

Income Taxes - Schedule of Details of Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current
Ireland	$ 97,680	$ 77,343	$ 61,550
Other	(3,054)	34,433	32,779
Total current tax expense	116,898	140,305	133,606
Deferred, exclusive of other components below
Ireland	(20,022)	(10,919)	(62,011)
Other	(11,481)	(8,990)	(11,144)
Total deferred, exclusive of other components	(209,265)	(259,661)	(275,460)
Deferred, change in tax rates
Other	(17)	0	(2)
Total deferred, change in tax rates	938	(556)	(16,791)
Total deferred tax benefit	(208,327)	(260,217)	(292,251)
Total income tax benefit	(91,429)	(119,912)	(158,645)
United Kingdom
Current
United kingdom and united states	207	7,726	1,454
Deferred, exclusive of other components below
United kingdom and united states	(114,600)	(150,506)	(193,219)
Deferred, change in tax rates
United kingdom and united states	0	268	(16,990)
United States
Current
United kingdom and united states	22,065	20,803	37,823
Deferred, exclusive of other components below
United kingdom and united states	(63,162)	(89,246)	(9,086)
Deferred, change in tax rates
United kingdom and united states	$ 955	$ (824)	$ 201

Summary of Significant Accounting Policies - Schedule of Property and Equipment Estimated Useful Lives (Details)	Dec. 31, 2024
Buildings
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	40 years
Manufacturing equipment and machinery \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	4 years
Manufacturing equipment and machinery \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	20 years
Computer software and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	3 years
Computer software and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	7 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	5 years

Net Income (Loss) per Ordinary Share - Anti-dilutive Effect (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Employee equity incentive and purchase plans
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Ordinary shares (in shares)	4,074	2,973	2,751
2026 Notes and 2024 Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Ordinary shares (in shares)	0	0	9,044

Schedule II Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 242	$ 242	$ 298
Additions charged to costs and expenses	5,981	0	0
Other Additions	0	0	0
Deductions	0	0	(56)
Balance at end of period	6,223	242	242
Allowance for sales discounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	5,962	2,980	2,126
Additions charged to costs and expenses	24,334	22,334	20,133
Other Additions	0	0	0
Deductions	(16,253)	(19,352)	(19,279)
Balance at end of period	14,043	5,962	2,980
Allowance for chargebacks
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	14,932	14,621	11,389
Additions charged to costs and expenses	212,389	185,886	135,854
Other Additions	0	0	0
Deductions	(214,896)	(185,575)	(132,622)
Balance at end of period	12,425	14,932	14,621
Deferred tax asset valuation allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	312,340	234,732	154,255
Additions charged to costs and expenses	205,894	76,670	95,947
Other Additions	0	1,368	0
Deductions	(9,044)	(430)	(15,470)
Balance at end of period	$ 509,190	$ 312,340	$ 234,732

Leases - Schedule of Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets
Operating lease assets	$ 53,582	$ 65,340
Finance lease assets	3,917	4,450
Total lease assets	$ 57,499	$ 69,790
Finance lease, right-of-use asset, statement of financial position [Extensible Enumeration]	Property, plant and equipment, net	Property, plant and equipment, net
Liabilities
Operating lease liabilities	$ 14,331	$ 19,019
Finance lease liabilities	$ 448	$ 428
Operating lease, liability, current, statement of financial position [Extensible List]	Accrued liabilities	Accrued liabilities
Finance lease, liability, current, statement of financial position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities
Operating lease liabilities	$ 38,938	$ 59,225
Finance lease liabilities	4,561	5,039
Total lease liabilities	$ 58,278	$ 83,711
Finance lease, liability, noncurrent, statement of financial position [Extensible Enumeration]	Other non-current liabilities	Other non-current liabilities

Share-Based Compensation

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation

GW Incentive Plans

On May 5, 2021, Jazz Pharmaceuticals plc acquired the entire issued share capital of GW. In connection with the GW Acquisition, we assumed the GW Incentive Plans. The terms of the GW Incentive Plans provide for the grant of stock options, stock appreciation rights, RSUs, other stock awards, and performance awards that may be settled in cash, shares, or other

property. Ordinary shares granted to employees in exchange for GW ADS, in connection with the GW Acquisition, vest ratably over service periods of two years, while all post-acquisition grants vest ratably over service periods of four years and expire no more than 10 years after the date of grant. As of December 31, 2024, a total of 1,864,475 of our ordinary shares had been authorized for issuance under the GW Incentive Plans.

2011 Equity Incentive Plan

In connection with the Azur Merger, Jazz Pharmaceuticals, Inc.’s board of directors adopted the 2011 Plan in October 2011, and its stockholders approved the 2011 Plan at the special meeting of the stockholders held in December 2011. The 2011 Plan became effective immediately before the consummation of the Azur Merger and was assumed and adopted by us upon the consummation of the Azur Merger. The terms of the 2011 Plan provide for the grant of stock options, stock appreciation rights, RSUs, other stock awards, and performance awards that may be settled in cash, shares, or other property. All outstanding grants under the 2011 Plan were granted to employees and vest ratably over service periods of four years and expire no more than 10 years after the date of grant. As of December 31, 2024, a total of 34,836,988 of our ordinary shares had been authorized for issuance under the 2011 Plan.

2007 Employee Stock Purchase Plan

In 2007, Jazz Pharmaceuticals, Inc.’s employees became eligible to participate in the ESPP. The ESPP was amended and restated by Jazz Pharmaceuticals, Inc.’s board of directors in October 2011 and approved by its stockholders in December 2011. The amended and restated ESPP became effective immediately prior to the effective time of the Azur Merger and was assumed by us upon the consummation of the Azur Merger. The amended and restated ESPP allows our eligible employee participants (including employees of any parent or subsidiary company if our board of directors designates such company as eligible to participate) to purchase our ordinary shares at a discount of 15% through payroll deductions. The ESPP consists of a fixed offering period of 24 months with four purchase periods within each offering period. The number of shares available for issuance under our ESPP during any six-month purchase period is 175,000 shares. As of December 31, 2024, a total of 7,029,250 of our ordinary shares had been authorized for issuance under the ESPP.

Amended and Restated 2007 Non-Employee Directors Stock Award Plan

The Amended and Restated 2007 Directors Award Plan, which was initially adopted by the Jazz Pharmaceuticals, Inc. board of directors and approved by the Jazz Pharmaceuticals, Inc. stockholders in connection with its initial public offering, was continued and assumed by us upon the consummation of the Azur Merger. Until October 2011, the 2007 Directors Award Plan provided for the automatic grant of stock options to purchase shares of Jazz Pharmaceuticals, Inc.’s common stock to its non-employee directors initially at the time any individual first became a non-employee director, which vest over three years, and then annually over their period of service on its board of directors, which vest over one year. On October 24, 2011, Jazz Pharmaceuticals, Inc.’s board of directors amended the 2007 Directors Award Plan to eliminate all future initial and annual automatic grants so that future automatic grants would not be made that would be subject to the excise tax imposed by the Internal Revenue Code in connection with the Azur Merger. Accordingly, all future stock option grants under the 2007 Directors Award Plan will be at the discretion of our board of directors. Since the Azur Merger, all of the new grants under the 2007 Directors Award Plan were granted to non-employee directors and vest ratably over service periods of one to three years and expire no more than 10 years after the date of grant. In August 2016, our shareholders approved our proposal to expand the types of stock awards that may be granted to our non-employee directors under the 2007 Directors Award Plan and eliminate the final automatic share reserve increase under the 2007 Directors Award Plan that was scheduled to occur on January 1, 2017. In July 2020, our shareholders approved our proposal to increase the number of ordinary shares authorized for issuance under the 2007 Directors Award Plan by 500,000 shares. As of December 31, 2024, a total of 1,403,938 of our ordinary shares had been authorized for issuance under the 2007 Directors Award Plan.

Share-Based Compensation

Share-based compensation expense related to RSUs, PRSUs, grants under our ESPP and share options was as follows (in thousands):


	Year Ended December 31,
	2024		2023		2022
Selling, general and administrative	$	158,570	$	146,942	$	151,986
Research and development	74,673		64,847		57,522
Cost of product sales	14,802		15,052		12,488
Total share-based compensation expense, pre-tax	248,045		226,841		221,996
Income tax benefit from share-based compensation expense	(40,552)		(40,015)		(41,058)
Total share-based compensation expense, net of tax	$	207,493	$	186,826	$	180,938

We recognized income tax benefits related to share option exercises of $0.3 million, $1.9 million and $8.0 million in 2024, 2023 and 2022, respectively.

Restricted Stock Units

In 2024, 2023 and 2022, we granted RSUs covering an equal number of our ordinary shares to employees with a weighted-average grant date fair value of $118.41, $144.65 and $152.08, respectively. The fair value of RSUs is determined on the date of grant based on the market price of our ordinary shares as of that date. The fair value of RSUs is recognized as an expense ratably over the vesting period of four years. In 2024, 2023 and 2022, 1,341,000, 1,094,000 and 910,000 RSUs were released, respectively, with 892,000, 735,000 and 610,000 ordinary shares issued, respectively, and 449,000, 359,000 and 300,000 ordinary shares withheld for tax purposes, respectively. The total fair value of shares vested was $156.0 million, $155.5 million and $138.1 million during 2024, 2023 and 2022, respectively.

As of December 31, 2024, total compensation cost not yet recognized related to unvested RSUs was $308.9 million, which is expected to be recognized over a weighted-average period of 2.4 years.

The following table summarizes information as of December 31, 2024 and activity during 2024 related to our RSUs:


	Number of RSUs (In thousands)	Weighted- Average Grant-Date Fair Value		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In thousands)
Outstanding at January 1, 2024	3,563	$	148.79
RSUs granted	2,260	118.41
RSUs released	(1,341)	147.14
RSUs forfeited	(449)	137.25

Outstanding at December 31, 2024	4,033	$	133.60	1.3	$	496,716

Performance-Based Restricted Stock Units

The Compensation & Management Development Committee of our board of directors and, in the case of our Chief Executive Officer, the independent members of our board of directors, approved awards of PRSUs to certain employees of the Company, subject to vesting on the achievement of certain commercial and pipeline performance criteria to be assessed over a performance period from the date of the grant to December 31, 2024, December 31, 2025 and December 31, 2026, respectively. The number of shares that vest is determined based on the Company’s achievement with respect to the performance criteria. For PRSUs granted prior to 2024, the amount of shares that vest will be subject to adjustment based on the application of a relative TSR modifier. For PRSUs granted in 2024, the relative TSR represents one of the performance metrics. In both cases, the number of shares that may be earned ranges between 0% and 200% of the target number of PRSUs granted.

The following table summarizes information as of December 31, 2024 and activity during 2024 related to our PRSUs:


	Number of PRSUs (In thousands)	Weighted- Average Grant-Date Fair Value		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In thousands)
Outstanding at January 1, 2024	664	$	173.30
PRSUs granted	377	131.04
PRSUs released	(124)	190.81
PRSUs forfeited	(136)	169.40

Outstanding at December 31, 2024	781	$	150.82	1.1	$	96,218

As of December 31, 2024, total compensation cost not yet recognized related to unvested PRSUs was $37.3 million, which is expected to be recognized over a weighted-average period of 1.1 years.

As the PRSUs granted in each year are subject to a market condition, the grant date fair value for such PRSUs was based on a Monte Carlo simulation model. In 2024, 2023 and 2022, we granted PRSUs to employees with a weighted-average grant date fair value of $131.04, $156.91 and $178.78, respectively. The Company evaluated the performance targets in the context of its current long-range financial plan and its product candidate development pipeline and recognized compensation expense based on the probable number of awards that will ultimately vest. In 2024, 124,000 PRSUs were released, with 80,000 ordinary shares issued and 44,000 ordinary shares withheld for tax purposes. The total fair value of shares vested was $14.8 million during 2024.

Share Options

There were no share options granted in 2024, 2023 and 2022.

The following table summarizes information as of December 31, 2024 and activity during 2024 related to our share option plans:


	Shares Subject to Outstanding Options (In thousands)	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In thousands)
Outstanding at January 1, 2024	2,716	$	141.55

Options exercised	(14)	115.81
Options forfeited	(8)	163.35
Options expired	(536)	148.99
Outstanding at December 31, 2024	2,158	$	139.79	3.2	$	3,562
Vested and expected to vest at December 31, 2024	2,158	$	139.79	3.2	$	3,562
Exercisable at December 31, 2024	2,158	$	139.79	3.2	$	3,562

Aggregate intrinsic value shown in the table above is equal to the difference between the exercise price of the underlying share options and the fair value of our ordinary shares for share options that were in the money. The aggregate intrinsic value changes based on the fair market value of our ordinary shares. The aggregate intrinsic value of share options exercised was $0.2 million, $6.3 million and $34.8 million during 2024, 2023 and 2022, respectively. We issued new ordinary shares upon exercise of share options.

As of December 31, 2024, total compensation cost not yet recognized related to unvested share options was $0.1 million, which is expected to be recognized over a weighted-average period of 0.1 years.

As of December 31, 2024, total compensation cost not yet recognized related to grants under the ESPP was $7.6 million, which is expected to be recognized over a weighted-average period of 1.1 years.

Nominal Strike Price Options

During the second quarter of 2021, we issued nominal strike price options to replace certain unvested GW awards, in connection with the GW Acquisition, with a weighted-average grant date fair value of $170.82. The fair value of nominal strike price options was determined on the date of the grant based on the market price of our ordinary shares as of that date.

The following table summarizes information as of December 31, 2024 and activity during 2024 related to our nominal strike price options:


	Shares Subject to Outstanding Options (In thousands)	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In thousands)
Outstanding at January 1, 2024	27	$	0.02

Options exercised	(8)	0.02


Outstanding at December 31, 2024	19	$	0.02	6.0	$	2,374
Vested and expected to vest at December 31, 2024	19	$	0.02	6.0	$	2,374
Exercisable at December 31, 2024	19	$	0.02	6.0	$	2,374

The aggregate intrinsic value of nominal strike price options exercised was $0.9 million, $3.9 million and $8.4 million during 2024, 2023 and 2022, respectively. We issued new ordinary shares upon exercise of nominal strike price options.

Debt - 2030 Senior Secured Notes Narrative (Details) - 2030 Notes - Convertible Debt	1 Months Ended
	Sep. 30, 2024 USD ($) customer $ / shares Rate
Debt Instrument [Line Items]
Debt instrument, face amount \| $	$ 1,000,000,000
Interest rate (as a percentage)	3.125%
Redemption price, percentage (as a percentage) \| Rate	100.00%
Percentage of conversion price (as a percentage) \| Rate	130.00%
Number of trading days \| customer	20
Number of consecutive days in trading period \| customer	30
Conversion rate of shares (in shares per dollar)	0.0065339
Debt conversion price (in dollars per share) \| $ / shares	$ 153.05
Debt issuance cost \| $	$ 19,200,000
Debt term (in years)	6 years
Effective interest rate (as a percentage)	3.47%

Revenues - Schedule of the Percentage of Total Revenues from Customers (Details) - Total Revenues - Customer concentration risk	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
ESSDS
Concentration Risk [Line Items]
Percentage of total revenues (as a percentage)	42.00%	48.00%	56.00%
McKesson
Concentration Risk [Line Items]
Percentage of total revenues (as a percentage)	12.00%	11.00%	11.00%

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Rebates and other sales deductions	$ 342,717	$ 325,711
Employee compensation and benefits	153,133	121,209
Clinical trial accruals	49,962	44,757
Accrued interest	41,626	36,443
Accrued royalties	36,802	30,706
Accrued milestones	27,500	0
Selling and marketing accruals	26,981	14,743
Sales return reserve	26,428	20,435
Consulting and professional services	26,221	19,538
Inventory-related accruals	25,509	13,977
Accrued development expenses	23,099	15,431
Accrued collaboration expenses	18,005	10,158
Current portion of lease liabilities	14,779	19,447
Derivative instrument liabilities	10,198	681
Accrued construction-in-progress	10,061	5,141
Accrued facilities expenses	6,107	55,455
Other	71,819	60,082
Accrued liabilities	$ 910,947	$ 793,914

Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Schedule of Lease Cost and Supplemental Cash Flow Information

The components of the lease expense for the years ended December 31, 2024, 2023 and 2022 were as follows (in thousands):



	Year Ended December 31,
Lease Cost	2024		2023		2022
Operating lease cost	$	22,209	$	19,394	$	19,670
Short-term lease cost	7,441		6,290		5,088
Variable lease cost	789		81		5
Sublease income	(472)		(22)		—
Finance Lease Cost
Interest on lease liabilities	442		377		429
Amortization of leased asset	413		481		472
Net lease cost	$	30,822	$	26,601	$	25,664



	December 31,
Lease Term and Discount Rate	2024		2023
Weighted-average remaining lease term (years)
Operating leases	4.3		5.1
Finance leases	10.4		11.2
Weighted-average discount rate
Operating leases	6.6	%	5.4	%
Finance leases	7.6	%	7.5	%

Supplemental cash flow information related to operating and finance leases was as follows (in thousands):



	Year Ended December 31,
	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	33,632	$	20,646	$	20,544
Operating cash outflows from finance leases	830		835		806
Financing cash outflows from finance leases	442		377		429
Non-cash operating activities:
Operating lease assets obtained in exchange for new operating lease liabilities	$	25,819	$	9,953	$	4,312

De-recognition of operating lease asset on lease assignment / termination	19,877		4,169		—
De-recognition of operating lease liability on lease assignment / termination	21,297		4,457		—

Schedule of Lease Supplemental Balance Sheet Information

Supplemental balance sheet information related to operating and finance leases was as follows (in thousands):



		December 31,
Leases	Classification	2024		2023
Assets
Operating lease assets	Operating lease assets	$	53,582	$	65,340
Finance lease assets	Property, plant and equipment	3,917		4,450
Total lease assets		$	57,499	$	69,790

Liabilities
Current
Operating lease liabilities	Accrued liabilities	$	14,331	$	19,019
Finance lease liabilities	Accrued liabilities	448		428
Non-current
Operating lease liabilities	Operating lease liabilities, less current portion	38,938		59,225
Finance lease liabilities	Other non-current liabilities	4,561		5,039
Total lease liabilities		$	58,278	$	83,711

Schedule of Operating Lease Liability Maturities

Maturities of operating and finance lease liabilities were as follows (in thousands):


Year Ending December 31,	Operating Leases		Finance Leases
2025	$	16,574	$	837
2026	12,596		811
2027	10,314		758
2028	9,020		601
2029	6,036		601
Thereafter	8,344		3,717
Total lease payments	62,884		7,325
Less imputed interest	(9,615)		(2,316)
Present value of lease liabilities	$	53,269	$	5,009

Schedule of Finance Lease Liability Maturities

Maturities of operating and finance lease liabilities were as follows (in thousands):


Year Ending December 31,	Operating Leases		Finance Leases
2025	$	16,574	$	837
2026	12,596		811
2027	10,314		758
2028	9,020		601
2029	6,036		601
Thereafter	8,344		3,717
Total lease payments	62,884		7,325
Less imputed interest	(9,615)		(2,316)
Present value of lease liabilities	$	53,269	$	5,009

Inventories - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
GW Pharmaceuticals plc
Inventory [Line Items]
Inventory, step-up value	$ 191.2	$ 328.0

Fair Value Measurement - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities without readily determinable value, fair value	$ 4.3	$ 4.7
Significant Other Observable Inputs (Level 2) \| Convertible Debt \| 2026 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of exchangeable senior notes	1,000.0
Significant Other Observable Inputs (Level 2) \| Convertible Debt \| 2030 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of exchangeable senior notes	1,100.0
Significant Other Observable Inputs (Level 2) \| Senior Secured Debt \| Secured Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of secured debt	1,400.0
Significant Other Observable Inputs (Level 2) \| Term Loan \| Tranche B 2 Dollar Term Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of lines of credit	$ 2,700.0

Share-Based Compensation - Schedule of Share Option Plans Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares
Shares Subject to Outstanding Options
Outstanding, beginning balance (in shares) \| shares	2,716
Options exercised (in shares) \| shares	(14)
Options forfeited (in shares) \| shares	(8)
Options expired (in shares) \| shares	(536)
Outstanding, ending balance (in shares) \| shares	2,158
Vested and expected to vest (in shares) \| shares	2,158
Exercisable, balance (in shares) \| shares	2,158
Weighted- Average Exercise Price
Outstanding, beginning balance (in dollars per share) \| $ / shares	$ 141.55
Options exercised (in dollars per share) \| $ / shares	115.81
Options forfeited (in dollars per share) \| $ / shares	163.35
Options expired (in dollars per share) \| $ / shares	148.99
Outstanding, ending balance (in dollars per share) \| $ / shares	139.79
Vested and expected to vest (in dollars per share) \| $ / shares	139.79
Exercisable (in dollars per share) \| $ / shares	$ 139.79
Weighted- Average Remaining Contractual Term (Years)
Weighted-average remaining contractual term, outstanding (in years)	3 years 2 months 12 days
Weighted-average remaining contractual term, vested and expected to vest, exercisable (in years)	3 years 2 months 12 days
Weighted-average remaining contractual term, exercisable (in years)	3 years 2 months 12 days
Aggregate Intrinsic Value
Aggregate intrinsic value, outstanding \| $	$ 3,562
Aggregate intrinsic value, vested and expected to vest \| $	3,562
Aggregate intrinsic value, exercisable \| $	$ 3,562
Nominal Strike Price Options
Shares Subject to Outstanding Options
Outstanding, beginning balance (in shares) \| shares	27
Options exercised (in shares) \| shares	(8)
Outstanding, ending balance (in shares) \| shares	19
Vested and expected to vest (in shares) \| shares	19
Exercisable, balance (in shares) \| shares	19
Weighted- Average Exercise Price
Outstanding, beginning balance (in dollars per share) \| $ / shares	$ 0.02
Options exercised (in dollars per share) \| $ / shares	0.02
Outstanding, ending balance (in dollars per share) \| $ / shares	0.02
Vested and expected to vest (in dollars per share) \| $ / shares	0.02
Exercisable (in dollars per share) \| $ / shares	$ 0.02
Weighted- Average Remaining Contractual Term (Years)
Weighted-average remaining contractual term, outstanding (in years)	6 years
Weighted-average remaining contractual term, vested and expected to vest, exercisable (in years)	6 years
Weighted-average remaining contractual term, exercisable (in years)	6 years
Aggregate Intrinsic Value
Aggregate intrinsic value, outstanding \| $	$ 2,374
Aggregate intrinsic value, vested and expected to vest \| $	2,374
Aggregate intrinsic value, exercisable \| $	$ 2,374

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income (Loss) from Continuing Operations Before Income Tax Expense (Benefit)

The components of income (loss) before income tax benefit and equity in loss of investees were as follows (in thousands):


	Year Ended December 31,
	2024		2023		2022
Ireland	$	497,860	$	449,214	$	(50,311)
United Kingdom	(411,356)		(643,096)		(963,598)
United States	29,594		(6,056)		224,453
Other	354,253		497,867		416,672
Total	$	470,351	$	297,929	$	(372,784)

Schedule of Details of Income Tax Expense (Benefit)

The following table sets forth the details of income tax benefit (in thousands):


	Year Ended December 31,
	2024		2023		2022
Current
Ireland	$	97,680	$	77,343	$	61,550
United Kingdom	207		7,726		1,454
United States	22,065		20,803		37,823
Other	(3,054)		34,433		32,779
Total current tax expense	116,898		140,305		133,606
Deferred, exclusive of other components below
Ireland	(20,022)		(10,919)		(62,011)
United Kingdom	(114,600)		(150,506)		(193,219)
United States	(63,162)		(89,246)		(9,086)
Other	(11,481)		(8,990)		(11,144)
Total deferred, exclusive of other components	(209,265)		(259,661)		(275,460)
Deferred, change in tax rates
United Kingdom	—		268		(16,990)
United States	955		(824)		201
Other	(17)		—		(2)
Total deferred, change in tax rates	938		(556)		(16,791)
Total deferred tax benefit	(208,327)		(260,217)		(292,251)
Total income tax benefit	$	(91,429)	$	(119,912)	$	(158,645)

Schedule of Reconciliation of Income Taxes at the Statutory Income Tax Rate to Effective Income Tax Rate

The reconciliation between income tax expense (benefit) at the Irish statutory trading income tax rate of 12.5 percent, the jurisdiction of tax domicile of Jazz Pharmaceuticals, applied to income before the income tax expense (benefit) and equity in loss of investees and our reported income tax benefit was as follows (in thousands):


	Year Ended December 31,
	2024		2023		2022
Income tax expense (benefit) at the statutory income tax rate	$	58,794	$	37,241	$	(46,598)
Change in valuation allowance	201,996		75,081		95,051
Deduction on subsidiary equity	(180,460)		(153,655)		(158,488)
Change in estimates	(106,007)		(5,472)		(14,065)
Patent box incentive benefit	(65,413)		(13,862)		(6,203)
Research and other tax credits	(65,255)		(49,900)		(27,976)
Foreign derived intangible income benefit	(39,470)		(42,400)		(29,541)
Foreign income tax rate differential	38,346		(7,763)		5,863
Non-deductible financing costs	22,437		15,705		4,504
Tax deficiencies/(excess tax benefits) from share-based compensation	18,074		3,959		(1,690)
Non-deductible compensation	10,889		14,092		13,505
Change in unrecognized tax benefits	9,767		(12,612)		5,029
Change in tax rate	938		(605)		(16,790)
Non-deductible facility expense	22		16,618		8,093
Non-deductible royalty expense	—		—		6,274

Other	3,913		3,661		4,387
Reported income tax benefit	$	(91,429)	$	(119,912)	$	(158,645)

Schedule of Net Deferred Tax Assets (Liabilities)

Significant components of our net deferred tax assets (liabilities) were as follows (in thousands):


	December 31,
	2024		2023
Deferred tax assets:
Deduction on subsidiary equity carryforwards	$	393,960	$	212,015
Operating loss carryforwards	307,413		296,490
Capitalized research and development	295,779		201,186
Intangible assets	243,391		238,062
Tax credit carryforwards	127,483		142,854
Accrued liabilities	115,290		128,948
Share-based compensation	47,486		48,403
Indirect effects of unrecognized tax benefits	35,000		40,811
Other	15,714		19,340
Total deferred tax assets	1,581,516		1,328,109
Valuation allowance	(509,190)		(312,340)
Deferred tax assets, net of valuation allowance	1,072,326		1,015,769
Deferred tax liabilities:
Intangible assets	(1,130,485)		(1,290,425)
Inventories	(47,802)		(81,995)
Other	(10,530)		(13,221)
Total deferred tax liabilities	(1,188,817)		(1,385,641)
Net deferred tax liabilities	$	(116,491)	$	(369,872)

The following table summarizes the presentation of deferred tax assets and liabilities (in thousands):


	December 31,
	2024		2023
Deferred tax assets	$	560,245	$	477,834
Deferred tax liabilities	(676,736)		(847,706)
Net deferred tax liabilities	$	(116,491)	$	(369,872)

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of our unrecognized tax benefits follows (in thousands):


	December 31,
	2024		2023		2022
Balance at the beginning of the year	$	122,694	$	143,976	$	137,867
Increases related to current year tax positions	32,559		15,004		25,128
Increases related to prior year tax positions	—		224		2,794
Decreases related to prior year tax positions	(150)		(12,702)		(164)

Decreases related to settlements with taxing authorities	(2,605)		—		(223)
Lapse of the applicable statute of limitations	(26,520)		(23,808)		(21,426)
Balance at the end of the year	$	125,978	$	122,694	$	143,976

Cash and Available-for-Sale Securities - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Interest income from available-for-sale securities	$ 106.3	$ 65.1	$ 11.5

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation [Abstract]
Income tax expense (benefit) at the statutory income tax rate	$ 58,794	$ 37,241	$ (46,598)
Change in valuation allowance	201,996	75,081	95,051
Deduction on subsidiary equity	(180,460)	(153,655)	(158,488)
Change in estimates	106,007	5,472	14,065
Patent box incentive benefit	(65,413)	(13,862)	(6,203)
Research and other tax credits	(65,255)	(49,900)	(27,976)
Foreign derived intangible income benefit	(39,470)	(42,400)	(29,541)
Foreign income tax rate differential	38,346	(7,763)	5,863
Non-deductible financing costs	22,437	15,705	4,504
Tax deficiencies/(excess tax benefits) from share-based compensation	18,074	3,959	(1,690)
Non-deductible compensation	10,889	14,092	13,505
Change in unrecognized tax benefits	9,767	(12,612)	5,029
Change in tax rate	938	(605)	(16,790)
Non-deductible facility expense	22	16,618	8,093
Non-deductible royalty expense	0	0	6,274
Other	3,913	3,661	4,387
Total income tax benefit	$ (91,429)	$ (119,912)	$ (158,645)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating activities
Net income (loss)	$ 560,120	$ 414,832	$ (224,060)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Intangible asset amortization	627,313	608,284	599,169
Share-based compensation	248,045	226,841	221,996
Acquisition accounting inventory fair value step-up adjustment	135,014	151,446	273,392
Depreciation	32,754	30,412	30,302
Provision for losses on accounts receivable and inventory	27,758	11,113	14,537
Non-cash interest expense	21,973	22,378	37,973
Acquired in-process research and development	10,000	19,000	444,148
Deferred tax benefit	(208,327)	(260,217)	(292,251)
Impairment of property, plant and equipment	0	61,014	0
Intangible asset impairment charge	0	0	133,648
Loss on disposal of a business	0	0	37,704
Other non-cash transactions	17,978	11,343	(14,486)
Changes in assets and liabilities:
Accounts receivable	(21,115)	(51,883)	(90,135)
Inventories	(45,542)	(13,420)	(49,642)
Prepaid expenses and other current assets	10,574	(126,179)	35,788
Operating lease assets	17,111	14,948	14,769
Other non-current assets	(49,820)	(15,884)	(24,038)
Accounts payable	(20,073)	9,603	(11,225)
Accrued liabilities	86,159	(23,245)	165,991
Income taxes payable	(14,742)	25,220	(1,692)
Deferred revenue	0	(463)	(2,093)
Operating lease liabilities, less current portion	(24,741)	(16,965)	(16,422)
Other non-current liabilities	(14,531)	(6,171)	(11,396)
Net cash provided by operating activities	1,395,908	1,092,007	1,271,977
Investing activities
Acquisition of investments	(1,305,125)	(390,100)	(61,036)
Purchases of property, plant and equipment	(38,070)	(23,962)	(29,046)
Acquired in-process research and development	(10,000)	(19,000)	(444,148)
Proceeds from maturity of investments	845,000	270,000	60,000
Acquisition of intangible assets	0	0	(25,000)
Proceeds from sale of a business	0	0	53,000
Net cash used in investing activities	(508,195)	(163,062)	(446,230)
Financing activities
Net proceeds from issuance of 2030 Notes	980,767	0	0
Proceeds from employee equity incentive and purchase plans	20,647	46,459	98,020
Payment of debt modification costs	(5,716)	0	0
Repayments of long-term debt	(31,000)	(31,000)	(582,014)
Payment of employee withholding taxes related to share-based awards	(57,753)	(50,952)	(45,443)
Share repurchases	(311,429)	(269,761)	(54)
Repayment of 2024 Notes	(575,000)	0	0
Net cash provided by (used in) financing activities	20,516	(305,254)	(529,491)
Effect of exchange rates on cash and cash equivalents	(1,675)	1,137	(6,222)
Net increase in cash and cash equivalents	906,554	624,828	290,034
Cash and cash equivalents, at beginning of period	1,506,310	881,482	591,448
Cash and cash equivalents, at end of period	2,412,864	1,506,310	881,482
Supplemental disclosure of cash flow information:
Cash paid for interest	314,822	333,112	270,671
Cash paid for income taxes, net of refunds	$ 114,907	$ 177,880	$ 94,681

Derivative Instruments and Hedging Activities - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Gain recognized in AOCI to be reclassified over the next 12 months	$ 0.7
Term Loan
Derivative [Line Items]
Interest rate (as a percentage)	3.9086%
Foreign exchange forward contracts \| Derivatives not designated as hedging instruments
Derivative [Line Items]
Notional amount	$ 461.2	$ 511.7
Interest Rate Swap \| Derivatives designated as hedging instruments
Derivative [Line Items]
Notional amount	$ 500.0	$ 500.0

Accrued Liabilities

12 Months Ended

Dec. 31, 2024

Payables and Accruals [Abstract]

Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):


	December 31,
	2024		2023
Rebates and other sales deductions	$	342,717	$	325,711
Employee compensation and benefits	153,133		121,209
Clinical trial accruals	49,962		44,757
Accrued interest	41,626		36,443
Accrued royalties	36,802		30,706
Accrued milestones	27,500		—
Selling and marketing accruals	26,981		14,743
Sales return reserve	26,428		20,435
Consulting and professional services	26,221		19,538
Inventory-related accruals	25,509		13,977
Accrued development expenses	23,099		15,431
Accrued collaboration expenses	18,005		10,158
Current portion of lease liabilities	14,779		19,447
Derivative instrument liabilities	10,198		681
Accrued construction-in-progress	10,061		5,141

Accrued facilities expenses	6,107		55,455

Other	71,819		60,082
Total accrued liabilities	$	910,947	$	793,914

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 560,120	$ 414,832	$ (224,060)
Other comprehensive income (loss):
Foreign currency translation adjustments	(106,025)	283,127	(725,277)
Loss on fair value hedging activities reclassified from accumulated other comprehensive loss to foreign exchange gain (loss), net of income tax benefit of $—, $—, and $43, respectively	0	0	128
Unrealized gain on cash flow hedging activities, net of income tax expense of $1,760, $1,215 and $—, respectively	5,298	3,658	0
Gain on cash flow hedging activities reclassified from accumulated other comprehensive loss to interest expense, net of income tax expense of $1,593, $1,137 and $—, respectively	(4,793)	(3,423)	0
Other comprehensive income (loss)	(105,520)	283,362	(725,149)
Total comprehensive income (loss)	$ 454,600	$ 698,194	$ (949,209)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Debt - 2026 Senior Secured Notes Narrative (Details)	12 Months Ended
Debt - 2026 Senior Secured Notes Narrative (Details)	Dec. 31, 2020 USD ($) day $ / shares	Dec. 31, 2017 USD ($) $ / shares	Jul. 31, 2024 USD ($)	Jul. 22, 2024 USD ($)	Aug. 31, 2023 USD ($)
2026 Notes \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 1,000,000,000
Interest rate (as a percentage)	2.00%
Percentage of conversion price (as a percentage)	130.00%
Number of trading days \| day	20
Number of consecutive days in trading period \| day	30
Conversion rate of shares (in shares per dollar)	0.0064182
Debt conversion price (in dollars per share) \| $ / shares	$ 155.81
Maximum cash per $1,000 principal amount			$ 1,000	$ 1,000
Debt issuance cost	$ 15,300,000
Debt term (in years)	6 years
Effective interest rate (as a percentage)	2.26%
2021 Notes \| Senior Secured Debt
Debt Instrument [Line Items]
Debt repurchased amount	$ 332,900,000
Interest rate (as a percentage)	1.875%
2024 Notes \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 575,000,000
Interest rate (as a percentage)		1.50%
Conversion rate of shares (in shares per dollar)		0.0045659
Debt conversion price (in dollars per share) \| $ / shares		$ 219.02
Maximum cash per $1,000 principal amount					$ 1,000

Shareholders' Equity

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

Share Repurchase Program

In July 2024, our board of directors authorized the New Repurchase Program, to repurchase ordinary shares having an aggregate purchase price of $500.0 million, exclusive of any brokerage commissions. Under the New Repurchase Program, which has no expiration date, we may repurchase ordinary shares from time to time by any methods and/or structures permitted by applicable law. The timing and amount of repurchases will depend on a variety of factors, including the price of our ordinary shares, alternative investment opportunities, restrictions under the Amended Credit Agreement and the indenture for our Secured Notes, corporate and regulatory requirements and market conditions. The New Repurchase Program may be modified, suspended or discontinued at any time without our prior notice. The New Repurchase Program replaces and supersedes the Old Repurchase Program, a share repurchase program to repurchase ordinary shares having an aggregate purchase price of $1.5 billion, exclusive of any brokerage commissions. In 2024, we spent a total of $150.0 million to repurchase 1.4 million of our ordinary shares, all under the New Repurchase Program, at a purchase price, including commissions, of $109.32 per share and $161.4 million to repurchase 1.5 million of our ordinary shares, all under the Old Repurchase Program, at a purchase price, including commissions, of $110.75 per share. The repurchases made under the New Share Repurchase Program in 2024 were effected in privately negotiated transactions with or through one of the initial purchasers of the 2030 Notes concurrently with the pricing of the offering of the 2030 Notes. In 2023, we spent a total of $269.8 million to purchase 2.1 million of our ordinary shares under the Old Repurchase Program at an average total purchase price, including commissions, of $126.65 per share. All ordinary shares repurchased were cancelled. As of December 31, 2024, the remaining amount authorized for repurchases under the New Repurchase Program was $350.0 million, exclusive of any brokerage commissions.

Authorized But Unissued Ordinary Shares

We had reserved the following shares of authorized but unissued ordinary shares (in thousands):


	December 31,
	2024	2023
2011 Equity Incentive Plan	22,056	22,855
2007 Employee Stock Purchase Plan	3,701	3,913
GW Incentive Plans	1,408	1,570
Amended and Restated 2007 Non-Employee Directors Stock Award Plan	677	714


Total	27,842	29,052

Dividends

In 2024 and 2023, we did not declare or pay cash dividends on our common equity. Under Irish law, dividends may only be paid, and share repurchases and redemptions must generally be funded only out of, “distributable reserves.” In addition, the terms of the Amended Credit Agreement restrict our ability to make certain restricted payments, including dividends and other distributions by us in respect of our ordinary shares, subject to, among other exceptions, (1) a general exception for dividends and other restricted payments not to exceed in the aggregate the greater of $350 million and 3.5% of consolidated total assets (as defined in the Amended Credit Agreement) when made, and (2) an exception that allows for dividends and other restricted payments equal to an amount tied to our financial performance, so long as no default or event of default shall have occurred and is continuing under the Amended Credit Agreement and the total net leverage ratio (as defined in in the Amended Credit Agreement) on a pro forma basis does not exceed 5:1, and (3) an exception that allows for additional dividends and other restricted payments, so long as no default or event of default shall have occurred and is continuing under the Amended Credit Agreement and the total net total leverage ratio (as defined in the Amended Credit Agreement) on a pro forma basis is not greater than 4:1. Any future determination as to the payment of dividends will, subject to Irish legal requirements, be at the sole discretion of our board of directors and will depend on our consolidated financial condition, results of operations, capital requirements, compliance with the terms of the Amended Credit Agreement or other future borrowing arrangements, and other factors our board of directors deems relevant.

- Definition

The entire disclosure for equity.

+ References

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+ Details

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Total revenues	$ 4,068,950	$ 3,834,204	$ 3,659,374
Operating expenses:
Cost of product sales (excluding amortization of acquired developed technologies)	445,713	435,577	540,517
Selling, general and administrative	1,385,294	1,343,105	1,416,967
Research and development	884,000	849,658	590,453
Intangible asset amortization	627,313	608,284	599,169
Acquired in-process research and development	10,000	19,000	444,148
Intangible asset impairment charge	0	0	133,648
Total operating expenses	3,352,320	3,255,624	3,724,902
Income (loss) from operations	716,630	578,580	(65,528)
Interest expense, net	(238,097)	(289,438)	(288,242)
Foreign exchange gain (loss)	(8,182)	8,787	(19,014)
Income (loss) before income tax benefit and equity in loss of investees	470,351	297,929	(372,784)
Income tax benefit	(91,429)	(119,912)	(158,645)
Equity in loss of investees	1,660	3,009	9,921
Net income (loss)	$ 560,120	$ 414,832	$ (224,060)
Net income (loss) per ordinary share:
Basic (in dollars per share)	$ 9.06	$ 6.55	$ (3.58)
Diluted (in dollars per share)	$ 8.65	$ 6.10	$ (3.58)
Weighted-average ordinary shares used in per share calculations - basic (in shares)	61,838	63,291	62,539
Weighted-average ordinary shares used in per share calculations - diluted (in shares)	66,007	72,066	62,539
Product sales, net
Revenues:
Total revenues	$ 3,821,164	$ 3,736,943	$ 3,641,429
Royalties and contract revenues
Revenues:
Total revenues	$ 247,786	$ 97,261	$ 17,945

Derivative Instruments and Hedging Activities

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

We are exposed to certain risks arising from operating internationally, including fluctuations in foreign exchange rates primarily related to the translation of sterling and euro denominated net monetary liabilities, including intercompany balances, held by subsidiaries with a U.S. dollar functional currency and fluctuations in interest rates on our outstanding term loan borrowings. We manage these exposures within specified guidelines through the use of derivatives. All of our derivative instruments are utilized for risk management purposes, and we do not use derivatives for speculative trading purposes.

We enter into foreign exchange forward contracts, with durations of up to 12 months, designed to limit the exposure to fluctuations in foreign exchange rates related to the translation of certain non-U.S. dollar denominated liabilities, including intercompany balances. Hedge accounting is not applied to these derivative instruments as gains and losses on these hedge transactions are designed to offset gains and losses on underlying balance sheet exposures. As of December 31, 2024 and 2023,

the notional amount of foreign exchange contracts where hedge accounting was not applied was $461.2 million and $511.7 million, respectively.

The foreign exchange gain (loss) in our consolidated statements of income (loss) included the following gains (losses) associated with foreign exchange contracts not designated as hedging instruments (in thousands):


	Year Ended December 31,
Foreign Exchange Forward Contracts:	2024		2023		2022
Gain (loss) recognized in foreign exchange gain (loss)	$	(14,444)	$	13,543	$	(58,755)

To achieve a desired mix of floating and fixed interest rates on our variable rate debt, we entered into interest rate swap agreements in April 2023 which are effective until April 2026. These agreements hedge contractual term loan interest rates. As of December 31, 2024, the interest rate swap agreements had a notional amount of $500.0 million. As a result of these agreements, the interest rate on a portion of our term loan borrowings is fixed at 3.9086%, plus the borrowing spread, until April 30, 2026.

The impact on accumulated other comprehensive loss and earnings from derivative instruments that qualified as cash flow hedges was as follows (in thousands):


	Year Ended December 31,
Interest Rate Contracts:	2024		2023
Gain recognized in accumulated other comprehensive loss, net of tax	$	5,298	$	3,658
Gain reclassified from accumulated other comprehensive loss to interest expense, net of tax	(4,793)		(3,423)

Assuming no change in the Term SOFR based interest rates from market rates as of December 31, 2024, $0.7 million of gains, net of tax, recognized in accumulated other comprehensive loss will be reclassified to earnings over the next 12 months.

In order to hedge our exposure to foreign currency exchange risk associated with our Euro Term Loan, we entered into a cross-currency interest rate swap contract in May 2021, which matured in March 2022, and was de-designated as a fair value hedge. The terms of this contract converted the principal repayments and interest payments on the Euro Term Loan into U.S. dollars. The carrying amount of the Euro Term Loan and the fair value of the cross-currency interest rate swap contract were remeasured on a monthly basis, with changes in the euro to U.S. dollar foreign exchange rates recognized within foreign exchange gain (loss) in the consolidated statements of income (loss).

The impact on accumulated other comprehensive loss and earnings from the cross-currency interest rate swap contract was as follows (in thousands):


	Year Ended December 31,
Cross-Currency Interest Rate Contract:	2022

Loss reclassified from accumulated other comprehensive loss to foreign exchange loss, net of tax	$	128
Loss recognized in foreign exchange loss	2,646

The cash flow effects of our derivative contracts are included within net cash provided by operating activities in the consolidated statements of cash flows, except for the settlement of notional amounts of the cross-currency swap, which were included in net cash used in financing activities.

The following tables summarize the fair value of outstanding derivatives (in thousands):


	December 31, 2024
	Asset Derivatives			Liability Derivatives
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments:
Interest rate contracts	Other current assets	$	959	Accrued liabilities	$	—
	Other non-current assets	32		Other non-current liabilities	—
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	Other current assets	2,250		Accrued liabilities	10,198

Total fair value of derivative instruments		$	3,241		$	10,198


	December 31, 2023
	Asset Derivatives			Liability Derivatives
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments:
Interest rate contracts	Other current assets	$	3,784	Accrued liabilities	$	—
	Other non-current assets	—		Other non-current liabilities	3,410
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	Other current assets	18,035		Accrued liabilities	681
Total fair value of derivative instruments		$	21,819		$	4,091

Although we do not offset derivative assets and liabilities within our consolidated balance sheets, our International Swap and Derivatives Association agreements provide for net settlement of transactions that are due to or from the same counterparty upon early termination of the agreement due to an event of default or other termination event. The following table summarizes the potential effect on our consolidated balance sheets of offsetting our interest rate and foreign exchange forward contracts subject to such provisions (in thousands):


	December 31, 2024
	Gross Amounts of Recognized Assets/ Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts Not Offset in the Consolidated Balance Sheet
Description							Derivative Financial Instruments		Cash Collateral Received (Pledged)		Net Amount
Derivative assets	$	3,241	$	—	$	3,241	$	(2,910)	$	—	$	331
Derivative liabilities	(10,198)		—		(10,198)		2,910		—		(7,288)


	December 31, 2023
	Gross Amounts of Recognized Assets/ Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts Not Offset in the Consolidated Balance Sheet
Description							Derivative Financial Instruments		Cash Collateral Received (Pledged)		Net Amount
Derivative assets	$	21,819	$	—	$	21,819	$	(4,091)	$	—	$	17,728
Derivative liabilities	(4,091)		—		(4,091)		4,091		—		—

Collaborations and Disposition (Details) - USD ($) $ in Thousands	1 Months Ended				12 Months Ended
	Feb. 29, 2024	Nov. 30, 2023	Sep. 30, 2023	Oct. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Nov. 30, 2024	May 31, 2022
Business Acquisition [Line Items]
Acquired in-process research and development					$ 10,000	$ 19,000	$ 444,148
Upfront and milestone payment values					7,713,412	$ 7,800,209
Disposal group, not discontinued operation, gain (loss) on disposal, statement of income or comprehensive income [Extensible Enumeration]							Selling, general and administrative
Disposal Group, Held-for-sale, Not Discontinued Operations \| Sunosi
Business Acquisition [Line Items]
Loss on disposal							$ 40,800
Redx Pharma \| Upfront Payment
Business Acquisition [Line Items]
Acquired in-process research and development	$ 10,000
Redx Pharma \| Potential Milestone Payment
Business Acquisition [Line Items]
Upfront and milestone payment values					870,000
Autifony Therapeutics \| Upfront Payment
Business Acquisition [Line Items]
Acquired in-process research and development		$ 18,000
Autifony Therapeutics \| Potential Milestone Payment
Business Acquisition [Line Items]
Upfront and milestone payment values					$ 752,500
Zymeworks
Business Acquisition [Line Items]
Acquired in-process research and development							375,000
Tiered royalty fees percentage, minimum					10.00%
Tiered royalty fees percentage, maximum					20.00%
Zymeworks \| Upfront Payment
Business Acquisition [Line Items]
Acquired in-process research and development				$ 50,000
Zymeworks \| Potential Milestone Payment
Business Acquisition [Line Items]
Total potential collaboration payments					$ 1,800,000
Zymeworks \| One-Time Payments
Business Acquisition [Line Items]
Acquired in-process research and development				$ 325,000
Zymeworks \| Milestone Payment
Business Acquisition [Line Items]
Upfront and milestone payment values					1,400,000			$ 25,000
Sumitomo \| Upfront Payment
Business Acquisition [Line Items]
Acquired in-process research and development							50,000
Sumitomo \| Potential Milestone Payment
Business Acquisition [Line Items]
Upfront and milestone payment values					1,090,000
Werewolf \| Upfront Payment
Business Acquisition [Line Items]
Acquired in-process research and development							$ 15,000
Werewolf \| Potential Milestone Payment
Business Acquisition [Line Items]
Upfront and milestone payment values					$ 1,260,000
Werewolf \| Milestone Payment
Business Acquisition [Line Items]
Acquired in-process research and development			$ 5,000
Axsome \| Disposal Group, Held-for-sale, Not Discontinued Operations \| Sunosi
Business Acquisition [Line Items]
Upfront payment received									$ 53,000

Derivative Instruments and Hedging Activities - Schedule of Foreign Exchange Gain (Loss) Derivative Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivatives not designated as hedging instruments \| Foreign exchange forward contracts
Derivative [Line Items]
Gain (loss) recognized in foreign exchange gain (loss)	$ (14,444)	$ 13,543	$ (58,755)

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Estimated useful lives are as follows:


Buildings			40 years
Manufacturing equipment and machinery			4-20 years
Computer software and equipment			3-7 years
Furniture and fixtures			5 years

Property, plant and equipment consisted of the following (in thousands):


	December 31,
	2024		2023
Manufacturing equipment and machinery	$	87,451	$	82,897
Land and buildings	71,902		70,912
Leasehold improvements	70,201		67,722

Computer software	42,635		38,134
Construction-in-progress	34,493		18,661
Computer equipment	20,137		15,398
Furniture and fixtures	8,551		9,273


Subtotal	335,370		302,997
Less accumulated depreciation and amortization	(161,957)		(133,351)
Property, plant and equipment, net	$	173,413	$	169,646

Segment and Other Information - Schedule of Long-Lived Assets by Location (Details) - Pharmaceuticals Products Segment - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 226,995	$ 234,986
Ireland
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	85,703	68,201
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	77,741	80,293
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	33,724	59,440
Italy
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	21,931	20,942
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 7,896	$ 6,110

Net Income (Loss) per Ordinary Share - Narrative (Details) - Convertible Debt - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 22, 2024	Aug. 31, 2023
2024 Notes
Debt Instrument [Line Items]
Maximum cash per $1,000 principal amount			$ 1
2026 Notes
Debt Instrument [Line Items]
Maximum cash per $1,000 principal amount	$ 1	$ 1

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Derivative Instruments and Hedging Activities - Schedule of Cross-Currency Loss Derivative Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Loss reclassified from accumulated other comprehensive loss to foreign exchange loss, net of tax	$ (106,025)	$ 283,127	$ (725,277)
Cross-currency interest rate contracts \| Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Loss reclassified from accumulated other comprehensive loss to foreign exchange loss, net of tax			128
Loss recognized in foreign exchange loss			$ 2,646

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Gross Carrying Amount of Goodwill

The gross carrying amount of goodwill was as follows (in thousands):


Balance at December 31, 2023	$	1,753,130


Foreign exchange	(36,807)
Balance at December 31, 2024	$	1,716,323

Schedule of Gross Carrying Amounts and Net Book Values of Intangible Assets

The gross carrying amounts and net book values of our intangible assets were as follows (in thousands):


	December 31, 2024							December 31, 2023
	Remaining Weighted- Average Useful Life (In years)	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Acquired developed technologies	7.8	$	7,699,423	$	(2,943,728)	$	4,755,695	$	7,785,495	$	(2,367,456)	$	5,418,039
Manufacturing contracts	—	11,121		(11,121)		—		11,828		(11,828)		—
Trademarks	—	2,868		(2,868)		—		2,886		(2,886)		—



Total finite-lived intangible assets		$	7,713,412	$	(2,957,717)	$	4,755,695	$	7,800,209	$	(2,382,170)	$	5,418,039

Schedule of Estimated Future Amortization Costs


Year Ending December 31,	Estimated Amortization Expense

2025	$	618,043
2026	618,043
2027	618,043
2028	616,711
2029	614,977
Thereafter	1,669,878
Total	$	4,755,695

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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+ Details

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2024	Feb. 19, 2025	Jun. 28, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-33500
Entity Registrant Name	Jazz Pharmaceuticals plc
Entity Incorporation, State or Country Code	L2
Entity Tax Identification Number	98-1032470
Entity Address, Address Line One	Fifth Floor, Waterloo Exchange
Entity Address, Address Line Two	Waterloo Road
Entity Address, City or Town	Dublin 4
Entity Address, Country	IE
Entity Address, Postal Zip Code	D04 E5W7
Country Region	353
City Area Code	1
Local Phone Number	634-7800
Title of 12(b) Security	Ordinary shares, nominal value $0.0001 per share
Trading Symbol	JAZZ
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Smaller Reporting Company	false
Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 6,413,308,100
Entity Common Stock, Shares Outstanding		60,732,479
Documents Incorporated by Reference	Certain information required by Part III, Items 10-14 of this Form 10‑K is incorporated by reference to the registrant’s definitive Proxy Statement for the 2025 Annual General Meeting of Shareholders to be filed with the Securities and Exchange Commission pursuant to Regulation 14A. If such Proxy Statement is not filed within 120 days after the end of the fiscal year covered by this Form 10‑K, such information will be included in an amendment to this Form 10‑K to be filed within such 120-day period.
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Central Index Key	0001232524

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Indemnification In the normal course of business, we enter into agreements that contain a variety of representations and warranties and provide for general indemnification, including indemnification associated with product liability or infringement of intellectual property rights. Our exposure under these agreements is unknown because it involves future claims that may be made but have not yet been made against us. To date, we have not paid any claims or been required to defend any action related to these indemnification obligations. We have agreed to indemnify our executive officers, directors and certain other employees for losses and costs incurred in connection with certain events or occurrences, including advancing money to cover certain costs, subject to certain limitations. The maximum potential amount of future payments we could be required to make under the indemnification obligations is unlimited; however, we maintain insurance policies that may limit our exposure and may enable us to recover a portion of any future amounts paid. Assuming the applicability of coverage, the willingness of the insurer to assume coverage, and subject to certain retention, loss limits and other policy provisions, we believe the fair value of these indemnification obligations is not significant. Accordingly, we did not recognize any liabilities relating to these obligations as of December 31, 2024 and December 31, 2023. No assurances can be given that the covering insurers will not attempt to dispute the validity, applicability, or amount of coverage without expensive litigation against these insurers, in which case we may incur substantial liabilities as a result of these indemnification obligations. Other Commitments As of December 31, 2024, we had $46.3 million of noncancelable purchase commitments due within one year, primarily related to agreements with third party manufacturers. Legal Proceedings We are involved in legal proceedings, including the following matters: Xyrem Antitrust Litigation From June 2020 to May 2022, a number of lawsuits were filed on behalf of purported direct and indirect Xyrem purchasers, alleging that the patent litigation settlement agreements we entered with generic drug manufacturers who had filed ANDAs violate state and federal antitrust and consumer protection laws, as follows: On June 17, 2020, a class action lawsuit was filed in the United States District Court for the Northern District of Illinois by BCBS against the Company Defendants. The BCBS Lawsuit also the BCBS Defendants. On June 18 and June 23, 2020, respectively, two additional class action lawsuits were filed against the Company Defendants and the BCBS Defendants: one by the New York State Teamsters Council Health and Hospital Fund in the United States District Court for the Northern District of California, and another by the Government Employees Health Association Inc. in the United States District Court for the Northern District of Illinois. On June 18, 2020, a class action lawsuit was filed in the United States District Court for the Northern District of California by the City of Providence, Rhode Island, on behalf of itself and all others similarly situated, against the City of Providence Defendants. On June 30, 2020, a class action lawsuit was filed in the United States District Court for the Northern District of Illinois by UFCW Local 1500 Welfare Fund on behalf of itself and all others similarly situated, against UFCW Defendants. On July 13, 2020, the plaintiffs in the BCBS Lawsuit and the GEHA Lawsuit dismissed their complaints in the United States District Court for the Northern District of Illinois and refiled their respective lawsuits in the United States District Court for the Northern District of California. On July 14, 2020, the plaintiffs in the UFCW Lawsuit dismissed their complaint in the United States District Court for the Northern District of Illinois and on July 15, 2020, refiled their lawsuit in the United States District Court for the Northern District of California. On July 31, 2020, a class action lawsuit was filed in the United States District Court for the Southern District of New York by the A.F. of L.-A.G.C. Building Trades Welfare Plan on behalf of itself and all others similarly situated, against Jazz Pharmaceuticals plc. The AFL Plan Lawsuit also names Roxane Laboratories Inc., West-Ward Pharmaceuticals Corp., Hikma Labs Inc., Hikma Pharmaceuticals plc, Amneal Pharmaceuticals LLC, Par Pharmaceutical, Inc., Lupin Ltd., Lupin Pharmaceuticals, Inc., and Lupin Inc. On August 14, 2020, an additional class action lawsuit was filed in the United States District Court for the Southern District of New York by the Self-Insured Schools of California on behalf of itself and all others similarly situated, against the Company Defendants, as well as Hikma Pharmaceuticals plc, Eurohealth (USA) Inc., Hikma Pharmaceuticals USA, Inc., West-Ward Pharmaceuticals Corp., Roxane Laboratories, Inc., Amneal Pharmaceuticals LLC, Endo International, plc, Endo Pharmaceuticals LLC, Par Pharmaceutical, Inc., Lupin Ltd., Lupin Pharmaceuticals Inc., Lupin Inc., Sun Pharmaceutical Industries Ltd., Sun Pharmaceutical Holdings USA, Inc., Sun Pharmaceutical Industries, Inc., Ranbaxy Laboratories Ltd., Teva Pharmaceutical Industries Ltd., Watson Laboratories, Inc., Wockhardt Ltd., Morton Grove Pharmaceuticals, Inc., Wockhardt USA LLC, Mallinckrodt plc, and Mallinckrodt LLC. On September 16, 2020, an additional class action lawsuit was filed in the United States District Court for the Northern District of California, by Ruth Hollman on behalf of herself and all others similarly situated, against the same defendants named in the Self-Insured Schools Lawsuit. In December 2020, the above cases were centralized and transferred to the United States District Court for the Northern District of California, where the multidistrict litigation will proceed for the purpose of discovery and pre-trial proceedings. On March 18, 2021, United Healthcare Services, Inc. filed a lawsuit in the United States District Court for the District of Minnesota against the Company Defendants, Hikma Pharmaceuticals plc, Roxane Laboratories, Inc., Hikma Pharmaceuticals USA Inc., Eurohealth (USA) Inc., Amneal Pharmaceuticals LLC, Par Pharmaceutical, Inc., Lupin Ltd., and Lupin Pharmaceuticals, Inc., raising similar allegations. On March 24, 2021, the U.S. Judicial Panel on Multidistrict Litigation conditionally transferred the UHS Lawsuit to the United States District Court for the Northern District of California, where it was consolidated for discovery and pre-trial proceedings with the other cases. On August 13, 2021, the United States District Court for the Northern District of California granted in part and denied in part the Company Defendants' motion to dismiss the complaints in the cases referenced above. On October 8, 2021, Humana Inc. filed a lawsuit in the United States District Court for the Northern District of California against the Company Defendants, Hikma Pharmaceuticals plc, Hikma Pharmaceuticals USA Inc., Hikma Labs, Inc., Eurohealth (USA), Inc., Amneal Pharmaceuticals LLC, Par Pharmaceutical, Inc., Lupin Ltd., Lupin Pharmaceuticals, Inc., and Lupin Inc, raising similar allegations. On October 8, 2021, Molina Healthcare Inc. filed a lawsuit in the United States District Court for the Northern District of California against the Company Defendants, Hikma Pharmaceuticals plc, Hikma Pharmaceuticals USA Inc., Hikma Labs, Inc., Eurohealth (USA), Inc., Amneal Pharmaceuticals LLC, Par Pharmaceutical, Inc., Lupin Ltd., Lupin Pharmaceuticals, Inc., and Lupin Inc, raising similar allegations. On February 17, 2022, Health Care Service Corporation filed a lawsuit in the United States District Court for the Northern District of California against the Company Defendants, Hikma Pharmaceuticals plc, Hikma Pharmaceuticals USA Inc., Hikma Labs, Inc., Eurohealth (USA), Inc., Amneal Pharmaceuticals LLC, Par Pharmaceutical, Inc., Lupin Ltd., Lupin Pharmaceuticals, Inc., and Lupin Inc, raising similar allegations. On April 19, 2023, the Court held a hearing on class certification in the consolidated multi-district litigation referenced above. On May 12, 2023, the Court granted the plaintiffs’ motion and preliminarily certified classes of Xyrem purchasers seeking monetary and injunctive relief. The Court excluded Xywav purchasers from the classes. On April 26, 2024, we, Hikma, and the plaintiffs filed motions for summary judgment. The Court held oral argument on these motions on July 19, 2024. On August 26, 2024, the Court issued a decision granting in part and denying in part the parties’ motions for summary judgment. Certain administrative service organization plaintiffs filed a motion for reconsideration of a portion of the Court’s summary judgment ruling. On December 16, 2024, the Court denied the motion for reconsideration. On January 15, 2025, Aetna, Inc., which is not a party to the consolidated multi-district litigation, filed a notice of appeal of the order denying reconsideration. On June 13, 2024, we filed a motion to decertify the class. On June 28, 2024, the plaintiffs filed a motion to amend the definition of the certified class. The Court held oral argument on these motions on August 22, 2024. On October 18, 2024, the Court issued a decision denying our motion to decertify the class and granting the plaintiffs’ motion to amend the class definition. On November 1, 2024, we filed a petition with the United States Court of Appeals for the Ninth Circuit seeking leave to appeal the Court’s decision amending the class definition. On January 29, 2025, the Ninth Circuit denied our petition for permission to appeal. Trial in this matter has been rescheduled for May 19, 2025. On January 13, 2023, Amneal Pharmaceuticals LLC, Lupin Ltd., Lupin Pharmaceuticals, Inc., and Lupin Inc, notified the Court that they had reached a settlement-in-principle with the class action plaintiffs. On April 19, 2023, the Court held a hearing on a motion for preliminary approval of this proposed settlement. On May 12, 2023, the Court granted the motion for preliminary approval of the proposed settlement. On January 11, 2024, the Court held a hearing on the motion for final approval of the proposed settlement. The Court deferred ruling and scheduled a further hearing for final approval of the proposed settlement on April 17, 2024. During February and March 2024, the parties notified the Court of settlements between certain non-class action plaintiffs and each of Amneal and Lupin, and the Court dismissed those plaintiffs’ claims against the applicable parties. On April 17, 2024, the Court issued an order granting the motion for final approval of the settlement between the class action plaintiffs, Amneal, and Lupin. On December 11, 2023, Blue Cross and Blue Shield of Florida, Inc. and Health Options, Inc. filed a lawsuit in the United States District Court for the Middle District of Florida against the Company Defendants, Hikma Pharmaceuticals plc, Hikma Pharmaceuticals USA Inc., Hikma Labs, Inc., and Eurohealth (USA), Inc., raising similar allegations. On January 23, 2024, the Blue Cross Florida case was transferred to the United States District Court for the Northern District of California and consolidated with the above referenced multidistrict litigation for pretrial purposes. On May 9, 2022, Aetna, filed a lawsuit in the Superior Court of California for the County of Alameda against the Company Defendants, Hikma Pharmaceuticals plc, Hikma Pharmaceuticals USA Inc., Hikma Labs, Inc., Eurohealth (USA), Inc., Amneal Pharmaceuticals LLC, Par Pharmaceutical, Inc., Lupin Ltd., Lupin Pharmaceuticals, Inc., and Lupin Inc, raising similar allegations. On December 27, 2022, the Court granted in part and denied in part our motion to dismiss Aetna’s complaint. As a result of that ruling, the generic defendants have been dismissed from the case, and certain of Aetna’s claims against Jazz have been dismissed. On January 27, 2023, Aetna filed an amended complaint against Jazz. On March 22, 2023, we filed motions to dismiss and to strike portions of the amended complaint. On June 26, 2023, the Court granted our motions, and granted Aetna leave to further amend its complaint. On November 17, 2023, Aetna filed its second amended complaint. On February 2, 2024, we filed our answer to the second amended complaint and Hikma filed a motion to quash service. The Court scheduled a hearing on Hikma’s motion for December 4, 2024. The Court has not set a further schedule in this case. The plaintiffs in certain of these lawsuits are seeking to represent a class of direct purchasers of Xyrem, and the plaintiffs in the remaining lawsuits are seeking to represent a class of indirect purchasers of Xyrem. Each of the lawsuits generally alleges violations of U.S. federal and state antitrust, consumer protection, and unfair competition laws in connection with the Company Defendants’ conduct related to Xyrem, including actions leading up to, and entering into, patent litigation settlement agreements with each of the other named defendants. Each of the lawsuits seeks monetary damages, exemplary damages, equitable relief against the alleged unlawful conduct, including disgorgement of profits and restitution, and injunctive relief. It is possible that additional lawsuits will be filed against the Company Defendants making similar or related allegations. If the plaintiffs were to be successful in their claims, they may be entitled to injunctive relief or we may be required to pay significant monetary damages, which could have a material adverse effect on our business, financial condition, results of operations and growth prospects. Patent Infringement Litigation Avadel Litigation On May 13, 2021, we filed a patent infringement suit against Avadel, and several of its corporate affiliates in the United States District Court for the District of Delaware. The suit alleges that Avadel’s Lumryz will infringe five of our patents related to controlled release formulations of oxybate and the safe and effective distribution of oxybate. The suit seeks an injunction to prevent Avadel from launching a product that would infringe these patents, and an award of monetary damages if Avadel does launch an infringing product. Avadel filed an answer to the complaint and counterclaims asserting that the patents are invalid or not enforceable, and that its product will not infringe our patents. Avadel filed a motion for partial judgment on the pleadings on its counterclaim that one of our patents should be delisted from the Orange Book. On November 18, 2022, the Court issued an order that we delist the patent from the Orange Book. On November 22, 2022, we filed a notice of appeal to the United States Court of Appeals for the Federal Circuit. The Federal Circuit temporarily stayed the District Court’s delisting order. On February 24, 2023, the Federal Circuit affirmed the District Court’s delisting order, lifted the temporary stay, and gave Jazz 14 days to request that FDA delist the patent from the Orange Book. Jazz complied with the Federal Circuit’s order and requested delisting on February 28, 2023. On March 3, 2023, we and Avadel stipulated to the dismissal without prejudice of the claims and counterclaims related to infringement and validity of the delisted patent in both this suit and a later-filed suit described below related to the same patent. On August 4, 2021, we filed an additional patent infringement suit against Avadel in the United States District Court for the District of Delaware. The second suit alleges that Avadel’s Lumryz will infringe a newly-issued patent related to sustained-release formulations of oxybate. The suit seeks an injunction to prevent Avadel from launching a product that would infringe this patent, and an award of monetary damages if Avadel does launch an infringing product. Avadel filed an answer to the complaint and counterclaims asserting that the patents are invalid or not enforceable, and that its product will not infringe our patents. On November 10, 2021, we filed an additional patent infringement suit against Avadel in the United States District Court for the District of Delaware. The third suit alleges that Avadel’s Lumryz will infringe a newly-issued patent related to sustained-release formulations of oxybate. The suit seeks an injunction to prevent Avadel from launching a product that would infringe this patent, and an award of monetary damages if Avadel does launch an infringing product. Avadel filed an answer to the complaint and counterclaims asserting that the patents are invalid or not enforceable, and that its product will not infringe our patents. On April 14, 2022, Avadel sued us in the United States District Court for the District of Delaware. Avadel’s suit alleges that we misappropriated trade secrets related to Avadel’s once-nightly sodium oxybate development program and breached certain contracts between the parties. Avadel seeks monetary damages, an injunction preventing us from using Avadel’s confidential information, and an order directing the United States Patent and Trademark Office to modify the inventorship of one of our oxybate patents. On July 8, 2022, we filed a motion for judgment on the pleadings, which the Court denied on July 18, 2023. The denial is not a ruling that Jazz misappropriated Avadel‘s trade secrets or breached any contract. The case will go forward in discovery and the Court instructed the parties to submit a proposed scheduling order. On June 7, 2022, we received notice from Avadel that it had filed a "paragraph IV certification" regarding one patent listed in the Orange Book for Xyrem. A paragraph IV certification is a certification by a generic applicant that alleges that patents covering the branded product are invalid, unenforceable, and/or will not be infringed by the manufacture, use or sale of the generic product. On July 15, 2022, we filed an additional lawsuit against Avadel asserting infringement of that patent. The suit alleges that the filing of Avadel’s application for approval of FT218 is an act of infringement, and that Avadel’s product would infringe the patent if launched. The suit seeks an injunction to prevent Avadel from launching a product that would infringe the patent, and an award of damages if Avadel does launch an infringing product. Avadel filed an answer to the complaint and counterclaims asserting that the patent is invalid, that its product would not infringe, and that by listing the patent in the Orange Book, we engaged in unlawful monopolization in violation of the Sherman Act. On December 9, 2022, we filed a motion to dismiss Avadel’s counterclaims. On June 29, 2023, we filed a motion seeking leave to supplement our motion to dismiss, as well as a motion to stay discovery pending resolution of the motion to dismiss. As noted above, on March 3, 2023, we and Avadel stipulated to the dismissal without prejudice of the claims and counterclaims related to infringement and validity of the delisted patent. On November 1, 2023, the Court held a claim construction hearing relating to disputed terms in the asserted patents. On December 15, 2023, the Court issued a written opinion and order resolving the parties’ remaining claim construction disputes. On November 20, 2023, we and Avadel each filed motions for summary judgment. On February 14, 2024, the Court issued a written opinion and order denying both parties’ motions for summary judgment. Trial regarding our patent infringement claims against Avadel began on February 26, 2024, and concluded on March 4, 2024, with the jury finding both of our asserted patents valid, and awarding us damages for infringement for Avadel’s past sales of Lumryz. On April 12, 2024, we filed a motion for a permanent injunction and ongoing royalties. On August 27, 2024, the Court granted our motion for an injunction in part, and requested additional briefing about ongoing royalties. The issued injunction prevents Avadel from seeking FDA approval or marketing Lumryz for the treatment of idiopathic hypersomnia or other indications not already a part of Lumryz’s product labeling as of March 4, 2024, and enjoins Avadel from infringing in any way Claim 24 of our ’782 patent by making, using or selling Lumryz through and including the February 2036 expiration date of the ’782 patent, subject to certain exclusions including, among other things (i) for the treatment of narcolepsy, (ii) for the treatment of patients who have been prescribed Lumryz as of the effective date of the injunction conditioned on the payment of an amount to be determined and (iii) in clinical trials and studies ongoing as of the effective date of the injunction. The Court also granted our motion for an ongoing royalty for any future sale of Lumryz to patients with narcolepsy at a rate to be determined based upon further briefing by the parties on the appropriate ongoing rate above 3.5%. Avadel is appealing this injunction to the United States Court of Appeals for the Federal Circuit. The Federal Circuit held oral argument on this appeal on February 7, 2025, but has not yet issued a decision. Avadel filed a motion with the district court for a stay of the injunction pending appeal, which the district court denied. Avadel also filed a motion to stay the injunction pending appeal with the Federal Circuit, which the Federal Circuit granted to the limited extent that the injunction enjoins initiating new clinical trials or studies and denied in all other respects. The Court scheduled a trial regarding Avadel’s counterclaims for unlawful monopolization for November 3, 2025 and a trial regarding Avadel’s trade secret misappropriation claims for December 15, 2025. On March 13, 2024 and March 19, 2024, we filed motions to stay Avadel’s unlawful monopolization counterclaim and trade secret claims, respectively, pending resolution of post-trial motions and potential appeals in the patent infringement suit. On May 24, 2024, the Court denied the motion to stay the unlawful monopolization counterclaim and the previously-filed motion to dismiss the same. On June 7, 2024, we filed a motion for reargument or, in the alternative, to certify the decision for interlocutory appeal. That motion remains pending and no hearing date has been set. The Court stayed Avadel’s trade secret misappropriation claims pending appeal of the injunction in the related patent matter. We filed a further motion to stay the unlawful monopolization counterclaims, which remains pending. On July 21, 2022, Avadel filed a lawsuit against FDA in the United States District Court for the District of Columbia, challenging FDA’s determination that Avadel was required to file a paragraph IV certification regarding one of our Orange Book listed patents. Avadel filed a motion for preliminary injunction or, in the alternative, summary judgment, seeking relief including a declaration that FDA’s decision requiring patent certification was unlawful, an order setting aside that decision, an injunction prohibiting FDA from requiring such certification as a precondition to approval of its application for FT218, and an order requiring FDA to take final action on Avadel’s application for approval of FT218 within 14 days of the Court’s ruling. On July 27, 2022, we filed a motion to intervene in that case, which the Court granted. The Court held a hearing on the parties’ respective motions for summary judgment on October 7, 2022. On November 3, 2022, the Court granted our and FDA’s motions for summary judgment and denied Avadel’s motion. From December 2024 through February 2025, Avadel filed a series of patent infringement suits against us in the United States District Court for the District of Delaware. The suits allege that Jazz’s sales of Xywav infringe on certain newly-issued Avadel patents, and Avadel seeks an award of monetary damages. We have not yet responded to these lawsuits. Xywav Patent Litigation In June 2021, we received notice from Lupin, that it has filed with FDA an ANDA, for a generic version of Xywav. The notice from Lupin included a paragraph IV certification with respect to ten of our patents listed in FDA’s Orange Book for Xywav on the date of our receipt of the notice. The asserted patents relate generally to the composition and method of use of Xywav, and methods of treatment when Xywav is administered concomitantly with certain other medications. In July 2021, we filed a patent infringement suit against Lupin in the United States District Court for the District of New Jersey. The complaint alleges that by filing its ANDA, Lupin has infringed ten of our Orange Book listed patents. We are seeking a permanent injunction to prevent Lupin from introducing a generic version of Xywav that would infringe our patents. As a result of this lawsuit, we expect that a stay of approval of up to 30 months will be imposed by FDA on Lupin's ANDA. In June 2021, FDA recognized seven years of Orphan Drug Exclusivity for Xywav through July 21, 2027. On October 4, 2021, Lupin filed an answer to the complaint and counterclaims asserting that the patents are invalid or not enforceable, and that its product, if approved, will not infringe our patents. In April 2022, we received notice from Lupin that it had filed a paragraph IV certification regarding a newly-issued patent listed in the Orange Book for Xywav. On May 11, 2022, we filed an additional lawsuit against Lupin in the United States District Court for the District of New Jersey alleging that by filing its ANDA, Lupin infringed the newly-issued patent related to a method of treatment when Xywav is administered concomitantly with certain other medications. The suit seeks a permanent injunction to prevent Lupin from introducing a generic version of Xywav that would infringe our patent. On June 22, 2022, the Court consolidated the two lawsuits we filed against Lupin. In November 2022, we received notice from Lupin that it had filed a paragraph IV certification regarding a newly-issued patent listed in the Orange Book for Xywav. On January 19, 2023, we filed an additional lawsuit against Lupin in the United States District Court for the District of New Jersey alleging that by filing its ANDA, Lupin infringed the newly-issued patent referenced in its November 2022 paragraph IV certification, as well as another patent that issued in January 2023. The suit seeks a permanent injunction to prevent Lupin from introducing a generic version of Xywav that would infringe the two patents in suit. On February 15, 2023, the Court consolidated the new lawsuit with the two suits we previously filed against Lupin. No trial date has been set in the consolidated case against Lupin. In February 2023, we received notice from Teva that it had filed with FDA an ANDA for a generic version of Xywav. The notice from Teva included a paragraph IV certification with respect to thirteen of our patents listed in FDA’s Orange Book for Xywav on the date of the receipt of the notice. The asserted patents relate generally to the composition and method of use of Xywav, and methods of treatment when Xywav is administered concomitantly with certain other medications. In March 2023, we filed a patent infringement suit against Teva in the United States District Court for the District of New Jersey. The complaint alleges that by filing its ANDA, Teva has infringed thirteen of our Orange Book listed patents. We are seeking a permanent injunction to prevent Teva from introducing a generic version of Xywav that would infringe our patents. As a result of this lawsuit, we expect that a stay of approval of up to 30 months will be imposed by FDA on Teva’s ANDA. On May 23, 2023, Teva filed an answer to the complaint and counterclaims asserting that the patents are invalid or not enforceable, and that its product, if approved, will not infringe our patents. On December 15, 2023, based on a stipulation between all parties, the Court consolidated the Lupin lawsuits and the Teva lawsuit for all purposes. No trial date has been set in the consolidated case. In July 2024, we received notices from Lupin and Teva that they had each filed a paragraph IV certification regarding a newly-issued patent listed in the Orange Book for Xywav. On August 27, 2024, we filed an additional lawsuit in the United States District Court for the District of New Jersey against each of Lupin and Teva, alleging that, by filing its ANDA, each party infringed the newly-issued patent related to a method of treatment using Xywav. The suits seek orders that the effective date of FDA approval of each defendant’s application shall be a date no earlier than the expiration of the newly-issued patent. Epidiolex Patent Litigation In November and December 2022, we received notices from the Epidiolex ANDA Filers, that they have each filed with FDA an ANDA for a generic version of Epidiolex (cannabidiol) oral solution. As of the date of this filing, we are not aware of other ANDA filers. The notices from the Epidiolex ANDA Filers each included a “paragraph IV certification” with respect to certain of our patents listed in FDA’s Orange Book for Epidiolex on the date of the receipt of the notice. The listed patents relate generally to the composition and method of use of Epidiolex, and methods of treatment using Epidiolex. A paragraph IV certification is a certification by a generic applicant that alleges that patents covering the branded product are invalid, unenforceable, and/or will not be infringed by the manufacture, use or sale of the generic product. On January 3, 2023, we filed a patent infringement suit against the Epidiolex ANDA Filers in the United States District Court for the District of New Jersey. The complaint alleges that by filing their ANDAs, the Epidiolex ANDA Filers have infringed certain of our Orange Book listed patents, and seeks an order that the effective date of FDA approval of the ANDAs shall be a date no earlier than the expiration of the last to expire of the asserted patents. As a result of this lawsuit, we expect that a stay of approval of up to 30 months will be imposed by FDA on the Epidiolex ANDA Filers’ ANDAs. From March 2023 through May 2023, we received the Epidiolex ANDA Filers’ answers to the complaint. The answers include defenses and counterclaims asserting that the Epidiolex ANDA Filers’ products, if launched, would not infringe our patents, that our patents are invalid and, in one instance, counterclaims related to allegations of inequitable conduct and improper listing of patents in the Orange Book. On May 25, 2023, we filed a motion to dismiss certain of the counterclaims. On January 11, 2024, the Court issued an order granting in part and denying in part our motion to dismiss. On September 20, 2024, the Court held a claim construction hearing relating to disputed terms in the asserted patents. The Court has not yet issued a decision on the claim construction disputes. The Court in the Epidiolex Patent Litigation scheduled trial for September 2025. In June and July 2023, we received notice from certain of the Epidiolex ANDA Filers that they had each filed a paragraph IV certification regarding a newly-issued patent listed in the Orange Book for Epidiolex. On July 21, 2023, we filed an additional lawsuit against all of the Epidiolex ANDA Filers in the United States District Court for the District of New Jersey alleging that, by filing its ANDA, each Epidiolex ANDA Filer infringed the newly-issued patent related to a method of treatment using Epidiolex. The suit seeks an order that the effective date of FDA approval of each Epidiolex ANDA Filer’s application shall be a date no earlier than the expiration of the newly-issued patent. In September and October 2023, we received notice from certain of the Epidiolex ANDA Filers that they had each filed a paragraph IV certification regarding one or more newly-issued patents listed in the Orange Book for Epidiolex. On December 15, 2023, we filed an additional lawsuit against seven of the original Epidiolex ANDA Filers with whom we have not previously settled. We filed this lawsuit in the United States District Court for the District of New Jersey alleging that, by filing its ANDA, each Epidiolex ANDA Filer infringed the newly-issued patents related to methods of treatment using Epidiolex. The suit seeks an order that the effective date of FDA approval of each Epidiolex ANDA Filer’s application shall be a date no earlier than the expiration of the newly-issued patents. In March and April 2024, we received notice from certain of the Epidiolex ANDA Filers that they had each filed a paragraph IV certification regarding one or more newly-issued patents listed in the Orange Book for Epidiolex. On July 3, 2024, we filed an additional lawsuit against six of the original Epidiolex ANDA Filers with whom we had not previously settled. We filed this lawsuit in the United States District Court for the District of New Jersey alleging that, by filing its ANDA, each Epidiolex ANDA Filer infringed the newly-issued patents related to methods of treatment using Epidiolex. The suit seeks an order that the effective date of FDA approval of each Epidiolex ANDA Filer’s application shall be a date no earlier than the expiration of the newly-issued patents. From October 2023 through January 2025, we entered into settlement agreements with each of the Epidiolex ANDA Filers that resolved our patent litigation with them related to Epidiolex. Under the settlement agreements, we granted each of the Epidiolex ANDA Filers a license to manufacture, market, and sell its own generic version of Epidiolex beginning in the very late 2030s, or earlier under certain circumstances, including but not limited to the launch of another generic Epidiolex product or a final decision that all unexpired claims of the Epidiolex patents are not infringed, or are invalid and/or unenforceable. Zepzelca Patent Litigation In July and August 2024, we received notices from the Zepzelca ANDA Filers that they have each filed with FDA an ANDA for a generic version of Zepzelca (lurbinectedin). As of the date of this filing, we are not aware of other ANDA filers. The notices from the Zepzelca ANDA Filers each included a paragraph IV certification with respect to a patent listed in the Orange Book for Zepzelca on the date of the receipt of the notice. The listed patent relates to the drug substance, drug product and approved use of Zepzelca. Jazz is the exclusive licensee to this Zepzelca patent pursuant to an agreement with PharmaMar. A paragraph IV certification is a certification by a generic applicant that alleges that the patent covering the branded product is invalid, unenforceable, and/or will not be infringed by the manufacture, use or sale of the generic product. On September 11, 2024, we and PharmaMar filed a patent infringement suit against the Zepzelca ANDA Filers in the United States District Court for the District of New Jersey. The complaint alleges that by filing their ANDAs, the Zepzelca ANDA Filers have infringed the Orange Book listed patent for Zepzelca, and seeks an order that the effective date of FDA approval of the ANDAs shall be a date no earlier than the expiration of the asserted patent. In December 2024, we received the Zepzelca ANDA Filers’ answers to the complaint. The answers include defenses and counterclaims asserting that the Zepzelca ANDA Filers’ products, if launched, would not infringe our patents and that our patents are invalid. No trial date has been set in this matter. On September 12, 2024, we and PharmaMar filed a patent infringement suit against RK Pharma, in the United States District Court for the District of Delaware. The complaint alleges that by filing its ANDA, RK Pharma has infringed the Orange Book listed patent for Zepzelca, and seeks an order that the effective date of FDA approval of RK Pharma’s ANDA shall be no earlier than the expiration of the asserted patent. On November 13, 2024, we voluntarily dismissed this action against RK Pharma in the United States District Court for the District of Delaware. RK Pharma remains a defendant in the litigation referenced above in the United States District Court for the District of New Jersey. MSP Litigation On April 3, 2023, MSP filed a class action lawsuit on behalf itself and others similarly situated against the Defendants in the United States District Court for the Northern District of California. The MSP complaint alleges that the Defendants conspired to increase the price and quantity dispensed of Xyrem and Prialt, in violation of the Racketeer Influenced and Corrupt Organizations Act and several state laws. The allegations relate generally to the conduct at issue in the investigation conducted by the United States Department of Justice from 2016-2019, involving the Company’s contributions to certain charitable foundations. MSP seeks monetary damages, restitution, disgorgement, and a declaration that the conduct alleged is unlawful. On July 25, 2023, we and certain other defendants filed motions to dismiss MSP's complaint, which the Court granted on December 12, 2023. On January 5, 2024, the MSP filed an amended complaint. On February 20, 2024, we filed a motion to dismiss MSP’s amended complaint. The Court scheduled a hearing on the motion for June 13, 2024. On June 21, 2024, the Court cancelled the hearing. On July 22, 2024, the Court granted the motion. The Court set a deadline of August 12, 2024, to file a second amended complaint. On August 12, 2024, MSP voluntarily dismissed its complaint. FDA Litigation On June 22, 2023, we filed a complaint in the United States District Court for the District of Columbia seeking a declaration that FDA’s approval on May 1, 2023, of the NDA for Avadel's Lumryz was unlawful. In the complaint, we alleged that FDA acted outside its authority under the Orphan Drug Act, when, despite ODE protecting Jazz’s low-sodium oxybate product Xywav, FDA approved the Lumryz NDA and granted Lumryz ODE based on FDA’s finding that Lumryz makes a major contribution to patient care and is therefore clinically superior to Xywav and Xyrem. Jazz further alleged that, in doing so, FDA failed to follow its own regulations, failed to follow established agency policy without providing a reasoned explanation for the departure, reversed prior decisions by its own staff and experts without a reasoned explanation, and disregarded the relevant scientific literature and data. The complaint, filed pursuant to the Administrative Procedure Act, asked the Court to vacate and set aside FDA’s approval of the Lumryz NDA and sought a declaration that FDA’s approval of the Lumryz NDA was arbitrary, capricious, an abuse of discretion and otherwise not in accordance with law and that approval of the Lumryz NDA was in excess of FDA’s statutory authority and was made without observance of procedure required by law. On September 15, 2023, we filed a motion for summary judgment. On October 20, 2023, Avadel and FDA filed cross motions for summary judgment. Oral argument on these motions was held on May 10, 2024 and on October 30, 2024, the District Court issued an order denying Jazz’s motion for summary judgment and granting Avadel’s and FDA’s cross-motions for summary judgment. Jazz respectfully disagrees with the Court’s decision and is appealing the matter to the United States Court of Appeals for the District of Columbia Circuit. We filed our opening appeal brief on January 31, 2025. No argument date has been set. Qui tam matter In July 2022, we received a subpoena from the USAO for the District of Massachusetts requesting documents related to Xyrem and U.S. Patent No. 8,772,306 (“Method of Administration of Gamma Hydroxybutyrate with Monocarboxylate Transporters”), product labeling changes for Xyrem, communications with FDA and the USPTO, pricing of Xyrem, and other related documents. On July 18, 2024, the United States District Court for the District of Massachusetts unsealed a qui tam whistleblower lawsuit underlying the USAO’s subpoena, captioned 1:21-cv-10891-PBS and originally filed under seal on May 27, 2021. The public docket in this matter indicates that on May 24 and June 7, 2024, respectively, the United States and a number of states named in the whistleblower complaint declined to intervene in this matter. As such, private whistleblower litigation will proceed in the United States District Court for the District of Massachusetts. The Court set a deadline of September 1, 2024, for the plaintiff to file an amended complaint, and December 2, 2024, for us to file a motion to dismiss the amended complaint. The plaintiff filed the amended complaint on September 1, 2024. We filed our motion to dismiss on December 2, 2024. The Court scheduled a hearing on the motion to dismiss for April 2, 2025. From time to time, we are involved in legal proceedings arising in the ordinary course of business. We believe there is no other litigation pending that could have, individually or in the aggregate, a material adverse effect on our results of operations or financial condition.

Cash and Available-for-Sale Securities (Tables)

12 Months Ended

Dec. 31, 2024

Cash and Cash Equivalents [Abstract]

Schedule of Cash, Cash Equivalents and Investments

Cash, cash equivalents and investments consisted of the following (in thousands):


	December 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Cash and Cash Equivalents		Investments
Cash	$	948,894	$	—	$	—	$	948,894	$	948,894	$	—
Time deposits	790,000		—		—		790,000		210,000		580,000
Money market funds	1,253,970		—		—		1,253,970		1,253,970		—
Totals	$	2,992,864	$	—	$	—	$	2,992,864	$	2,412,864	$	580,000


	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Cash and Cash Equivalents		Investments
Cash	$	437,724	$	—	$	—	$	437,724	$	437,724	$	—
Time deposits	420,000		—		—		420,000		300,000		120,000
Money market funds	768,586		—		—		768,586		768,586		—
Totals	$	1,626,310	$	—	$	—	$	1,626,310	$	1,506,310	$	120,000

Cash and Available-for-Sale Securities - Schedule of Cash, Cash Equivalents and Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 2,992,864	$ 1,626,310
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	2,992,864	1,626,310
Cash and Cash Equivalents	2,412,864	1,506,310
Investments	580,000	120,000
Cash
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	948,894	437,724
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	948,894	437,724
Cash and Cash Equivalents	948,894	437,724
Investments	0	0
Time deposits
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	790,000	420,000
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	790,000	420,000
Cash and Cash Equivalents	210,000	300,000
Investments	580,000	120,000
Money market funds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,253,970	768,586
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	1,253,970	768,586
Cash and Cash Equivalents	1,253,970	768,586
Investments	$ 0	$ 0

Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Schedule of Components of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss as of December 31, 2024 and 2023 were as follows (in thousands):


	Net Unrealized Gain From Hedging Activities		Foreign Currency Translation Adjustments		Total Accumulated Other Comprehensive Loss
Balance at December 31, 2023	$	235	$	(842,382)	$	(842,147)


Other comprehensive income (loss) before reclassifications	5,298		(106,025)		(100,727)
Amounts reclassified from accumulated other comprehensive loss	(4,793)		—		(4,793)
Other comprehensive income (loss), net	505		(106,025)		(105,520)
Balance at December 31, 2024	$	740	$	(948,407)	$	(947,667)

Revenues

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenues

The following table presents a summary of total revenues (in thousands):


	Year Ended December 31,
	2024		2023		2022
Xywav	$	1,473,202	$	1,272,977	$	958,425
Xyrem	233,816		569,730		1,020,453

Epidiolex/Epidyolex	972,423		845,468		736,398
Sativex	18,877		19,668		16,825
Sunosi1	—		—		28,844
Total Neuroscience	2,698,318		2,707,843		2,760,945
Rylaze/Enrylaze	410,846		394,226		281,659
Zepzelca	320,318		289,533		269,912
Defitelio/defibrotide	216,565		184,000		194,290
Vyxeos	162,595		147,495		127,980
Ziihera	1,051		—		—
Total Oncology	1,111,375		1,015,254		873,841
Other	11,471		13,846		6,643
Product sales, net	3,821,164		3,736,943		3,641,429
High-sodium oxybate AG royalty revenue	217,575		75,918		—
Other royalty and contract revenues	30,211		21,343		17,945
Total revenues	$	4,068,950	$	3,834,204	$	3,659,374

____________________________

(1) Divestiture of Sunosi U.S. was completed in May 2022.

The following table presents a summary of total revenues attributed to geographic sources (in thousands):


	Year Ended December 31,
	2024		2023		2022
United States	$	3,660,109	$	3,489,977	$	3,370,379
Europe	312,706		269,243		239,638
All other	96,135		74,984		49,357
Total revenues	$	4,068,950	$	3,834,204	$	3,659,374

The following table presents a summary of the percentage of total revenues from customers that represented more than 10% of our total revenues:


	Year Ended December 31,
	2024		2023		2022
ESSDS	42	%	48	%	56	%
McKesson	12	%	11	%	11	%

Financing and payment

Our payment terms vary by the type and location of our customer, but payment is generally required in a term ranging from 30 to 65 days.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Share-Based Compensation - Narrative (Details) $ / shares in Units, $ in Millions			1 Months Ended		12 Months Ended
	May 05, 2021	Oct. 24, 2011	Jul. 31, 2020 shares	Dec. 31, 2011 period shares	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized tax benefits related to share options exercised \| $					$ 0.3	$ 1.9	$ 8.0
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)					4 years
Weighted-average grant-date fair value, RSUs and PRSUs granted (in dollars per share) \| $ / shares					$ 118.41	$ 144.65	$ 152.08
Number of RSUs released (in shares)					1,341,000	1,094,000	910,000
Shares issued (in shares)					892,000	735,000	610,000
Shares withheld for tax purposes (in shares)					449,000	359,000	300,000
Total fair value of shares vested \| $					$ 156.0	$ 155.5	$ 138.1
Unrecognized compensation cost related to unvested RSUs \| $					$ 308.9
Unrecognized compensation cost, weighted-average period of recognition (in years)					2 years 4 months 24 days
GW Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service periods (in years)	2 years
Grants expiration period (in years)	10 years
Shares authorized for issuance (in shares)					1,864,475
GW Incentive Plans, Post Acquisition Grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service periods (in years)	4 years
2011 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service periods (in years)				4 years
Shares authorized for issuance (in shares)					34,836,988
2011 Equity Incentive Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants expiration period (in years)				10 years
2007 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance (in shares)					7,029,250
ESPP discount rate (as a percentage)				15.00%
ESPP offering period (in months)				24 months
Number of purchase periods within each ESPP offering period \| period				4
Number of shares available for issuance (in shares)				175,000
Unrecognized compensation cost, weighted-average period of recognition (in years)					1 year 1 month 6 days
2007 Directors Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in shares authorized for issuance under deferred compensation plan (in shares)			500,000
Shares authorized for issuance under deferred compensation plan (in shares)					1,403,938
2007 Directors Award Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service periods (in years)		3 years
Grants expiration period (in years)		10 years
2007 Directors Award Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service periods (in years)		1 year
Initial Grant \| 2007 Directors Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		3 years
Annual Automatic Grant \| 2007 Directors Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		1 year

Net Income (Loss) per Ordinary Share - Basic and Diluted Net Income (Loss) per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net income (loss)	$ 560,120	$ 414,832	$ (224,060)
Effect of interest on assumed conversions of the 2026 Notes and the 2024 Notes, net of tax	10,762	24,876	0
Net income (loss) for dilutive net income (loss) per ordinary share	$ 570,882	$ 439,708	$ (224,060)
Denominator:
Weighted-average ordinary shares used in per share calculations - basic (in shares)	61,838	63,291	62,539
Dilutive effect of the 2026 Notes and the 2024 Notes (in shares)	3,540	8,016	0
Dilutive effect of employee equity incentive and purchase plans (in shares)	629	759	0
Weighted-average ordinary shares used in per share calculations - diluted (in shares)	66,007	72,066	62,539
Net income (loss) per ordinary share:
Basic (in dollars per share)	$ 9.06	$ 6.55	$ (3.58)
Diluted (in dollars per share)	$ 8.65	$ 6.10	$ (3.58)

Insider Trading Arrangements

3 Months Ended

12 Months Ended

Dec. 31, 2024

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

The following is a summary of the material terms of the contracts, instructions or written plans for the purchase or sale of the Company’s securities adopted or terminated by our officers (as defined in Rule 16a-1(f) under the Securities Exchange Act of 1934, as amended) and directors during the quarter ended December 31, 2024:

Type of Trading Arrangement

Name and Position

Date

Action

Rule 10b5-1*

Expiration Date

Total Ordinary Shares to be Sold

Robert Iannone

December 6, 2024

Termination(1)

March 7, 2025

10,681

Robert Iannone

December 6, 2024

Adoption(1)

December 6, 2025

12,625

Executive Vice President, Global Head of Research and Development, Chief Medical Officer

(1) Represents the modification, as described in Rule 10b5-1(c)(1)(iv) under the Exchange Act, of a written plan initially adopted on March 7, 2024 that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act.

* Contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended.

Non-Rule 10b5-1 Arrangement Adopted

false

Non-Rule 10b5-1 Arrangement Terminated

false

Robert Iannone [Member]

Trading Arrangements, by Individual

Arrangement Duration

365 days

Robert Iannone March 2024 Modified Plan [Member] | Robert Iannone [Member]

Trading Arrangements, by Individual

Name

Robert Iannone

Title

Executive Vice President, Global Head of Research and Development, Chief Medical Officer

Rule 10b5-1 Arrangement Terminated

true

Termination Date

December 6, 2024

Aggregate Available

10,681

Robert Iannone December 2024 Plan [Member] | Robert Iannone [Member]

Trading Arrangements, by Individual

Name

Robert Iannone

Title

Executive Vice President, Global Head of Research and Development, Chief Medical Officer

Rule 10b5-1 Arrangement Adopted

true

Adoption Date

December 6, 2024

Expiration Date

December 6, 2025

Aggregate Available

12,625

Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$ 33,632	$ 20,646	$ 20,544
Operating cash outflows from finance leases	830	835	806
Financing cash outflows from finance leases	442	377	429
Non-cash operating activities:
Operating lease assets obtained in exchange for new operating lease liabilities	25,819	9,953	4,312
De-recognition of operating lease asset on lease assignment / termination	19,877	4,169	0
De-recognition of operating lease liability on lease assignment / termination	$ 21,297	$ 4,457	$ 0

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Ordinary Shares	Ordinary Shares Performance-Based Restricted Stock Units (PRSUs)	Non-voting Euro Deferred	Capital Redemption Reserve	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Dec. 31, 2021			61,633		4,000
Beginning balance at Dec. 31, 2021	$ 3,965,191	$ (206,050)	$ 6		$ 55	$ 472	$ 3,534,792	$ (333,524)	$ (400,360)	$ 830,226	$ 127,474
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Issuance of ordinary shares in conjunction with exercise of share options (in shares)			832
Issuance of ordinary shares in conjunction with exercise of share options	82,897						82,897
Issuance of ordinary shares under employee stock purchase plan (in shares)			139
Issuance of ordinary shares under employee stock purchase plan	15,123						15,123
Issuance of ordinary shares in conjunction with vesting of restricted stock units and performance-based restricted stock units (in shares)			610
Shares withheld for payment of employee's withholding tax liability	(45,443)						(45,443)
Share-based compensation	223,279						223,279
Shares repurchased	(54)									(54)
Other comprehensive (loss) income	(725,149)								(725,149)
Net (loss) income	(224,060)									(224,060)
Ending balance (in shares) at Dec. 31, 2022			63,214		4,000
Ending balance at Dec. 31, 2022	3,085,734		$ 6		$ 55	472	3,477,124		(1,125,509)	733,586
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Issuance of ordinary shares in conjunction with exercise of share options (in shares)			280
Issuance of ordinary shares in conjunction with exercise of share options	30,189						30,189
Issuance of ordinary shares under employee stock purchase plan (in shares)			156
Issuance of ordinary shares under employee stock purchase plan	16,270						16,270
Issuance of ordinary shares in conjunction with vesting of restricted stock units and performance-based restricted stock units (in shares)			735
Shares withheld for payment of employee's withholding tax liability	(50,952)						(50,952)
Share-based compensation	227,323						227,323
Shares repurchased (in shares)			(2,130)
Shares repurchased	(269,761)					1				(269,762)
Other comprehensive (loss) income	283,362								283,362
Net (loss) income	$ 414,832									414,832
Ending balance (in shares) at Dec. 31, 2023	62,255		62,255		4,000
Ending balance at Dec. 31, 2023	$ 3,736,997		$ 6		$ 55	473	3,699,954		(842,147)	878,656
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Issuance of ordinary shares in conjunction with exercise of share options (in shares)	14		22
Issuance of ordinary shares in conjunction with exercise of share options	$ 1,629						1,629
Issuance of ordinary shares under employee stock purchase plan (in shares)			212
Issuance of ordinary shares under employee stock purchase plan	19,018						19,018
Issuance of ordinary shares in conjunction with vesting of restricted stock units and performance-based restricted stock units (in shares)			892	80
Shares withheld for payment of employee's withholding tax liability	(57,753)						(57,753)
Share-based compensation	250,694						250,694
Shares repurchased (in shares)			(2,830)
Shares repurchased	(311,429)									(311,429)
Other comprehensive (loss) income	(105,520)								(105,520)
Net (loss) income	$ 560,120									560,120
Ending balance (in shares) at Dec. 31, 2024	60,631		60,631		4,000
Ending balance at Dec. 31, 2024	$ 4,093,756		$ 6		$ 55	$ 473	$ 3,913,542		$ (947,667)	$ 1,127,347

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Income tax benefit	$ (91,429)	$ (119,912)	$ (158,645)
Patent box incentive benefit	65,413	13,862	6,203
Change in estimates	(106,007)	(5,472)	(14,065)
Increase in valuation allowance	196,900	77,600	80,500
Deferred tax assets, valuation allowance	509,190	312,340
Cumulated unremitted earnings of overseas subsidiaries	1,600,000
Additional expected tax expense if foreign earnings repatriated	81,000
Unrecognized tax benefits, accrued interest	8,600	8,400
Unrecognized tax benefits that would impact the effective tax rate	86,800	77,100
Decrease in unrecognized tax benefits is reasonably possible	26,700
Italy
Operating Loss Carryforwards [Line Items]
Patent box incentive benefit	40,900
Change in estimates	(103,300)
Valuation Allowance, Operating Loss Carryforwards
Operating Loss Carryforwards [Line Items]
Increase in valuation allowance	202,000	$ 76,200	$ 95,100
U.S. Federal
Operating Loss Carryforwards [Line Items]
NOL carryforwards	11,000
Tax credit carryforwards	20,500
U.S. State
Operating Loss Carryforwards [Line Items]
NOL carryforwards	4,900
Tax credit carryforwards	5,800
Foreign Tax Authorities
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards	100,900
Foreign Tax Authorities \| Luxembourg Inland Revenue
Operating Loss Carryforwards [Line Items]
Proposed additional tax including interest and penalties	23,300
Foreign Tax Authorities \| United Kingdom
Operating Loss Carryforwards [Line Items]
NOL carryforwards	790,300
Foreign Tax Authorities \| Malta
Operating Loss Carryforwards [Line Items]
NOL carryforwards	1,125,600
Ireland \| Ireland
Operating Loss Carryforwards [Line Items]
NOL carryforwards	$ 374,800

Leases -Schedule of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lease Cost
Operating lease cost	$ 22,209	$ 19,394	$ 19,670
Short-term lease cost	7,441	6,290	5,088
Variable lease cost	789	81	5
Sublease income	(472)	(22)	0
Finance Lease Cost
Interest on lease liabilities	442	377	429
Amortization of leased asset	413	481	472
Net lease cost	$ 30,822	$ 26,601	$ 25,664

Schedule II Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2024

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II Valuation and Qualifying Accounts

Schedule II

Valuation and Qualifying Accounts

(In thousands)


		Balance at beginning of period		Additions charged to costs and expenses		Other Additions		Deductions		Balance at end of period
For the year ended December 31, 2024
Allowance for doubtful accounts	(1)	$	242	$	5,981	$	—	$	—	$	6,223
Allowance for sales discounts	(1)	5,962		24,334		—		(16,253)		14,043
Allowance for chargebacks	(1)	14,932		212,389		—		(214,896)		12,425
Deferred tax asset valuation allowance	(2)(3)	312,340		205,894		—		(9,044)		509,190

For the year ended December 31, 2023
Allowance for doubtful accounts	(1)	$	242	$	—	$	—	$	—	$	242
Allowance for sales discounts	(1)	2,980		22,334		—		(19,352)		5,962
Allowance for chargebacks	(1)	14,621		185,886		—		(185,575)		14,932
Deferred tax asset valuation allowance	(2)(3)	234,732		76,670		1,368		(430)		312,340

For the year ended December 31, 2022
Allowance for doubtful accounts	(1)	$	298	$	—	$	—	$	(56)	$	242
Allowance for sales discounts	(1)	2,126		20,133		—		(19,279)		2,980
Allowance for chargebacks	(1)	11,389		135,854		—		(132,622)		14,621
Deferred tax asset valuation allowance	(2)(3)	154,255		95,947		—		(15,470)		234,732

__________________________

(1)Shown as a reduction of accounts receivable. Charges related to sales discounts and chargebacks are reflected as a reduction of revenue.

(2)Additions to the deferred tax asset valuation allowance charged to costs and expenses relate to movements on certain Irish, U.S. (federal and state) and other foreign deferred tax assets where we continue to maintain a valuation allowance until sufficient positive evidence exists to support reversal.

(3)Deductions from the deferred tax asset valuation allowance include movements relating to utilization of NOLs and tax credit carryforwards, release in valuation allowance and other movements including adjustments following finalization of tax returns and currency translation adjustments.

Inventories

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following (in thousands):


	December 31,
	2024		2023
Raw materials	$	20,161	$	25,595
Work in process	311,752		431,732
Finished goods	148,532		139,712
Total inventories	$	480,445	$	597,039

As of December 31, 2024 and 2023, inventories included $191.2 million and $328.0 million, respectively, related to the purchase accounting inventory fair value step-up on inventory acquired as part of our GW Acquisition.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant and equipment consisted of the following (in thousands):


	December 31,
	2024		2023
Manufacturing equipment and machinery	$	87,451	$	82,897
Land and buildings	71,902		70,912
Leasehold improvements	70,201		67,722

Computer software	42,635		38,134
Construction-in-progress	34,493		18,661
Computer equipment	20,137		15,398
Furniture and fixtures	8,551		9,273


Subtotal	335,370		302,997
Less accumulated depreciation and amortization	(161,957)		(133,351)
Property, plant and equipment, net	$	173,413	$	169,646

Depreciation and amortization expense on property, plant and equipment amounted to $32.8 million, $30.4 million and $30.3 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Property, Plant, and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 32.8	$ 30.4	$ 30.3

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 20,161	$ 25,595
Work in process	311,752	431,732
Finished goods	148,532	139,712
Total inventories	$ 480,445	$ 597,039

Property, Plant and Equipment- Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 335,370	$ 302,997
Less accumulated depreciation and amortization	(161,957)	(133,351)
Property, plant and equipment, net	173,413	169,646
Manufacturing equipment and machinery
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	87,451	82,897
Land and buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	71,902	70,912
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	70,201	67,722
Computer software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	42,635	38,134
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	34,493	18,661
Computer equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	20,137	15,398
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 8,551	$ 9,273

Share-Based Compensation -Stock Option And Nominal Strike Price Options Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of share options exercised		$ 0.2	$ 6.3	$ 34.8
2007 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average period (in years)		1 year 1 month 6 days
Unrecognized compensation cost related to grants under the PRSUs		$ 7.6
Share Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)		0	0	0
Unrecognized compensation cost related to unvested stock options		$ 0.1
Weighted-average period (in years)		1 month 6 days
Nominal Strike Price Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of share options exercised		$ 0.9	$ 3.9	$ 8.4
Grant date fair value	$ 170.82

Debt

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Debt

The following table summarizes the carrying amount of our indebtedness (in thousands):


	December 31,
	2024		2023




2024 Notes	$	—	$	575,000
Unamortized - debt issuance costs	—		(1,046)

2024 Notes, net	—		573,954

2026 Notes	1,000,000		1,000,000
Unamortized - debt issuance costs	(3,747)		(6,400)

2026 Notes, net	996,253		993,600

2030 Notes	1,000,000		—
Unamortized - debt issuance costs	(19,135)		—
2030 Notes, net	980,865		—

Secured Notes	1,483,841		1,480,214

Term Loan	2,647,681		2,665,174


Total debt	6,108,640		5,712,942
Less current portion (1)	31,000		604,954
Total long-term debt	$	6,077,640	$	5,107,988

(1) Balance as of December 31, 2023 includes the 2024 Notes as they matured in August 2024.

Credit Agreement

On May 5, 2021, Jazz Pharmaceuticals plc, Jazz Lux, and certain of our other subsidiaries, as borrowers, or, collectively with Jazz Pharmaceuticals plc and Jazz Lux, the “Borrowers”, entered into the Credit Agreement. The Credit Agreement initially provided for (i) the Dollar Term Loan, which was drawn by Jazz Lux on the closing date thereof in U.S. dollars (ii) the Euro Term Loan, which was drawn by Jazz Lux on the closing date thereof in Euros and (iii) the Initial Revolving Credit Facility.

We used the proceeds from the Dollar Term Loan (i) to repay in full $575.9 million under the 2015 Credit Agreement, (ii) to fund, in part, the cash consideration payable in connection with the GW Acquisition and (iii) to pay related fees and expenses. Upon the repayment in full of loans under the 2015 Credit Agreement, it was terminated and all guarantees and liens thereunder were released.

In 2021, we made voluntary prepayments on the Euro Term Loan totaling €416.7 million, or $502.0 million, and in March 2022 we repaid the remaining outstanding principal of €208.3 million, or $251.0 million. The Euro Term Loan bore interest at the EURIBOR plus an applicable margin. During the term of the Euro Term Loan, the interest rate and effective interest rate were 4.43% and 4.93%, respectively.

In January 2024, Jazz Lux entered into the Repricing Amendment No.1 to the Credit Agreement. Upon entry into the Repricing Amendment No.1, certain existing lenders converted a portion of the outstanding Dollar Term Loan into the Tranche B-1 Dollar Term Loans, and Jazz Lux borrowed $201.9 million aggregate principal amount of additional Tranche B-1 Dollar Term Loans, the proceeds of which were used to repay the portion of the outstanding Dollar Term Loan that was not converted.

In July 2024, Jazz Lux entered into the Repricing Amendment No. 2 to the Credit Agreement, as amended by the Repricing Amendment No. 1. Upon entry into Repricing Amendment No. 2, certain existing lenders converted a portion of the outstanding Tranche B-1 Dollar Term Loans into the Tranche B-2 Dollar Term Loans, and Jazz Lux borrowed $289.6 million aggregate principal amount of additional Tranche B-2 Dollar Term Loans, the proceeds of which were used to repay the portion of the outstanding Tranche B-1 Dollar Term Loans that were not converted.

The Tranche B-2 Dollar Term Loans are a separate class of term loans under the Credit Agreement, as amended by Repricing Amendment No. 1 and Repricing Amendment No. 2, with the same material terms (including with respect to maturity, prepayment, security, covenants and events of default) as the previously outstanding Tranche B-1 Dollar Term Loans and the initial Dollar Term Loan incurred on May 5, 2021, with the interest rate amended as described below and the credit spread adjustment removed. The principal amount of Tranche B-1 Dollar Term Loans outstanding immediately prior to the Repricing Amendment No. 2 and the outstanding principal amount of Tranche B-2 Dollar Term Loans immediately following the Repricing Amendment No.2, each totaled $2.7 billion.

The Tranche B-2 Dollar Term Loans bear interest at a rate equal to either (a) Term SOFR or (b) the prime lending rate, in each case, plus an applicable margin. The applicable margin for the Tranche B-2 Dollar Term Loans is 2.25% (in the case of Term SOFR borrowings) and 1.25% (in the case of borrowings at the prime lending rate), a decrease, in each case, of 75 basis points from the applicable margin on the Tranche B-1 Dollar Term Loans. The Tranche B-2 Dollar Term Loans are subject to a Term SOFR floor of 0.50%. As of December 31, 2024, the interest rate and effective interest rate on the Tranche B-2 Dollar Term Loans were 6.61% and 8.27%, respectively.

In November 2024, we entered into Amendment No. 3 to the Credit Agreement, as amended by the Repricing Amendment No. 1 and Repricing Amendment No. 2, to increase the Initial Revolving Credit Facility from $500.0 million to $885.0 million and extend the maturity date, or Amended Revolving Credit Facility, from May 5, 2026 to November 26, 2029 (such date, the “Amended Revolving Facility Maturity Date”), provided that:

•if, as of any date from March 16, 2026 to the maturity date of the 2026 Notes (any such date, the “2026 Notes Springing Maturity Date”), (x) any 2026 Notes (or any permitted refinancing indebtedness in respect thereof with a maturity date that is not later than the date that is 91 days after the Amended Revolving Facility Maturity Date) (any such indebtedness, the “2026 Maturity Indebtedness”) remain outstanding and (y) the aggregate amount of unrestricted cash of Jazz Pharmaceuticals plc and its subsidiaries is less than an amount equal to 125% of the aggregate principal amount of 2026 Maturity Indebtedness outstanding, then the maturity date for the Amended Revolving Credit Facility will be shortened to the 2026 Notes Springing Maturity Date;

•if, as of February 4, 2028, (x) more than $500,000,000 of the Tranche B-2 Dollar Term Loans under the Amended Credit Agreement (and any extended term loans, refinancing term loans, refinancing notes and permitted refinancing indebtedness, in each case, in respect thereof) (any such indebtedness, the “Term Loan Indebtedness”) remains outstanding and (y) the maturity date of such Term Loan Indebtedness is not later than the date that is 91 days after

the Amended Revolving Facility Maturity Date, then the maturity date for the Amended Revolving Credit Facility will be shortened to February 4, 2028; and

•if, as of October 16, 2028 (such date, the “Senior Notes Springing Maturity Date”), (x) more than $500,000,000 of the Secured Notes (and permitted refinancing indebtedness in respect thereof) (any such indebtedness, the “Senior Note Indebtedness”) remains outstanding and (y) the maturity date with respect to such Senior Note Indebtedness is not later than the date that is 91 days after the Amended Revolving Facility Maturity Date, then the maturity date for the Amended Revolving Credit Facility will be shortened to October 16, 2028.

Initially, the applicable margin for the loans under the Amended Revolving Credit Facility will be 2.00% (in the case of Term SOFR borrowings) and 1.00% (in the case of borrowings at the prime lending rate). Thereafter, the applicable margin for the Amended Revolving Credit Facility ranges from 1.75% to 2.75% (in the case of Term SOFR borrowings) and 0.75% to 1.75% (in the case of borrowings at the prime lending rate), depending on our first lien secured net leverage ratio level, and any loans under the Amended Revolving Credit Facility are subject to a Term SOFR floor of 0.00%. The Amended Revolving Credit Facility has a commitment fee payable on the undrawn amount ranging from 0.25% to 0.45% per annum based upon our first lien secured net leverage ratio. As of December 31, 2024, we had an undrawn Amended Revolving Credit Facility totaling $885.0 million.

We may make voluntary prepayments at any time without payment of a premium or penalty, subject to certain exceptions, and are required to make certain mandatory prepayments of outstanding indebtedness under the Amended Credit Agreement in certain circumstances. Principal repayments of the Dollar Term Loan, which were due quarterly, began in September 2021 and were equal to 1.0% per annum of the original principal amount of $3.1 billion with any remaining balance payable on the maturity date. In September 2022, we made a voluntary repayment on the Dollar Term Loan totaling $300.0 million. In January 2025, we made a voluntary repayment on the Tranche B-2 Dollar Term Loans totaling $750.0 million. The Tranche B-2 Dollar Term Loans will amortize in quarterly installments equal to 0.286294791% of the initial aggregate principal amount thereof, with the remaining balance payable on May 5, 2028.

Our obligations under the Amended Credit Agreement and any hedging or cash management obligations entered into with any lender thereunder are guaranteed by Jazz Pharmaceuticals plc, the other borrowers, and each of the Jazz Pharmaceuticals plc’s other existing or subsequently acquired or organized direct and indirect subsidiaries (subject to certain exceptions), or the Guarantors. We refer to the Borrowers and the Guarantors collectively as the “Loan Parties.”

The Loan Parties’ obligations under the Amended Credit Agreement are secured, subject to customary permitted liens and other exceptions, by a security interest in (a) all tangible and intangible assets of the Loan Parties, except for certain excluded assets, and (b) all of the equity interests of the subsidiaries of the Loan Parties held by the Loan Parties.

The Amended Credit Agreement contains customary representations and warranties and customary affirmative and negative covenants applicable to Jazz Pharmaceuticals plc and its restricted subsidiaries, including, among other things, restrictions on indebtedness, liens, investments, mergers, dispositions, prepayment of junior indebtedness and dividends and other distributions. The Amended Credit Agreement contains financial covenants that require Jazz Pharmaceuticals plc and its restricted subsidiaries to (a) not exceed a maximum first lien secured net leverage ratio and (b) not fall below a minimum interest coverage ratio, provided that such covenants apply only to the Amended Revolving Credit Facility and are applicable only if amounts are drawn (or non-cash collateralized letters of credit in excess of $50.0 million are outstanding) under the Amended Revolving Credit Facility. The Amended Credit Agreement also contains customary events of default relating to, among other things, failure to make payments, breach of covenants and breach of representations.

2029 Senior Secured Notes

On April 29, 2021, Jazz Securities, a wholly owned subsidiary of Jazz Pharmaceuticals plc, closed the offering of the Secured Notes in a private placement. We used the proceeds from the Secured Notes to fund, in part, the cash consideration payable in connection with the GW Acquisition.

Interest on the Secured Notes is payable semi-annually in arrears on January 15 and July 15 of each year, beginning on January 15, 2022, at a rate of 4.375% per year. The Secured Notes mature on January 15, 2029.

The Secured Notes are jointly and severally guaranteed by Jazz Pharmaceuticals plc and each of its restricted subsidiaries, other than Jazz Securities, that is a borrower, or a guarantor, under the Amended Credit Agreement. The Secured Notes and related guarantees are secured by a first priority lien (subject to permitted liens and certain other exceptions), equally and ratably with the Amended Credit Agreement, on the collateral securing the Amended Credit Agreement.

Some or all of the Secured Notes, may be redeemed at any time and from time to time at a specified redemption prices, plus accrued and unpaid interest, if any, to, but excluding, to the redemption date. In addition, Jazz Securities may redeem all

but not part of the Secured Notes at its option at any time in connection with certain tax-related events at a price equal to 100% of the principal amount of the Secured Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.

If Jazz undergoes a change of control, Jazz Securities will be required to make an offer to purchase all of the Secured Notes at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the date of repurchase, subject to certain exceptions.

The indenture governing the Secured Notes contains customary affirmative covenants and negative covenants applicable to Jazz Pharmaceuticals plc and its restricted subsidiaries, including, among other things, restrictions on indebtedness, liens, investments, mergers, dispositions, prepayment of junior indebtedness and dividends and other distributions. If Jazz Securities or Jazz Pharmaceuticals plc’s restricted subsidiaries engage in certain asset sales, Jazz Securities will be required under certain circumstances to make an offer to purchase the Secured Notes at 100% of the principal amount, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date.

As of December 31, 2024, the interest rate and effective interest rate on the Secured Notes were 4.375% and 4.64%, respectively.

2030 Notes

In September 2024, Jazz Investments, a wholly owned subsidiary of Jazz Pharmaceuticals plc, completed a private placement of $1.0 billion principal amount of the 2030 Notes.

Interest on the 2030 Notes is payable semi-annually in cash in arrears on March 15 and September 15 of each year, beginning on March 15, 2025, at a rate of 3.125% per year. In certain circumstances, we may be required to pay additional amounts as a result of any applicable tax withholding or deductions required in respect of payments on the 2030 Notes. The 2030 Notes mature on September 15, 2030, unless earlier exchanged, redeemed or repurchased.

The holders of the 2030 Notes have the ability to require us to repurchase all or a portion of their 2030 Notes for cash at a fundamental change repurchase price equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date in the event we undergo a fundamental change (as defined in the indenture related to the 2030 Notes), such as specified change of control transactions, our liquidation or dissolution or the delisting of our ordinary shares from any of The New York Stock Exchange, The Nasdaq Global Market, The Nasdaq Global Select Market or The Nasdaq Capital Market (or any of their respective successors).

Additionally, the terms and covenants in the indenture related to the 2030 Notes include certain events of default after which the 2030 Notes may be due and payable immediately.

Prior to September 15, 2030, we may redeem the 2030 Notes, in whole but not in part, in connection with certain tax-related events. We also may redeem the 2030 Notes on or after September 20, 2027 and prior to June 15, 2030, in whole or in part (subject to the partial redemption limitation described in the indenture related to the 2030 Notes), if the last reported sale price per ordinary share has been at least 130% of the exchange price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which we provide notice of redemption at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.

The 2030 Notes are exchangeable at an initial exchange rate of 6.5339 ordinary shares per $1,000 principal amount of 2030 Notes, which is equivalent to an initial exchange price of approximately $153.05 per ordinary share. Upon exchange of the 2030 Notes, we will pay cash up to the aggregate principal amount of the 2030 Notes to be exchanged and pay or deliver, as the case may be, cash, ordinary shares or a combination of cash and ordinary shares, at our election, in respect of the remainder, if any, of our exchange obligation in excess of the aggregate principal amount of the 2030 Notes being exchanged. The exchange rate is subject to adjustment in some events but will not be adjusted for any accrued and unpaid interest. In addition, following certain make-whole fundamental changes (as defined in the indenture related to the 2030 Notes) that occur prior to the maturity date or upon our issuance of a notice of redemption, we will, in certain circumstances, increase the exchange rate for a holder who elects to exchange its 2030 Notes in connection with that make-whole fundamental change or exchange its 2030 Notes called (or deemed called) for redemption during the related redemption period. Prior to June 15, 2030, the 2030 Notes will be exchangeable only upon satisfaction of certain conditions and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date.

As of December 31, 2024, the “if converted value” did not exceed the principal amount of the 2030 Notes.

The total liability is reflected net of issuance costs of $19.2 million which will be amortized over the term of the 2030 Notes. We have determined the expected life of the 2030 Notes to be equal to the original six-year term. The effective interest rate of the 2030 Notes is 3.47%.

2026 Notes

In 2020 we completed a private placement of $1.0 billion principal amount of the 2026 Notes. We used a portion of the net proceeds from this offering to repurchase for cash $332.9 million aggregate principal amount of the 1.875% exchangeable senior notes due 2021, through privately-negotiated transactions concurrently with the offering of the 2026 Notes. Interest on the 2026 Notes is payable semi-annually in cash in arrears on June 15 and December 15 of each year, beginning on December 15, 2020, at a rate of 2.00% per year. In certain circumstances, we may be required to pay additional amounts as a result of any applicable tax withholding or deductions required in respect of payments on the 2026 Notes. The 2026 Notes mature on June 15, 2026, unless earlier exchanged, repurchased or redeemed.

The holders of the 2026 Notes have the ability to require us to repurchase all or a portion of their 2026 Notes for cash in the event we undergo certain fundamental changes, such as specified change of control transactions, our liquidation or dissolution or the delisting of our ordinary shares from any of The New York Stock Exchange, The Nasdaq Global Market, The Nasdaq Global Select Market or The Nasdaq Capital Market (or any of their respective successors). Additionally, the terms and covenants in the indenture related to the 2026 Notes include certain events of default after which the 2026 Notes may be due and payable immediately. Prior to June 15, 2026, we may redeem the 2026 Notes, in whole but not in part, subject to compliance with certain conditions, if we have, or on the next interest payment date would, become obligated to pay to the holder of any 2026 Notes additional amounts as a result of certain tax-related events. We also may redeem the 2026 Notes prior to March 15, 2026, in whole or in part, if the last reported sale price per ordinary share has been at least 130% of the exchange price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which we provide the notice of redemption.

The 2026 Notes are exchangeable at an initial exchange rate of 6.4182 ordinary shares per $1,000 principal amount of 2026 Notes, which is equivalent to an initial exchange price of approximately $155.81 per ordinary share. On July 22, 2024, we irrevocably elected to fix the settlement method for exchanges of the 2026 Notes to a combination of cash and ordinary shares of Jazz Pharmaceuticals plc with a specified cash amount per $1,000 principal amount of 2026 Notes exchanged equal to or in excess of $1,000. As a result, for any 2026 Notes exchanged subsequent to such notice, an exchanging holder will receive (i) up to $1,000 in cash per $1,000 principal amount of 2026 Notes exchanged and (ii) cash, ordinary shares, or any combination thereof, at our election, in respect of the remainder, if any, of its exchange obligation in excess of $1,000 per $1,000 principal amount of 2026 Notes exchanged. The exchange rate will be subject to adjustment in some events but will not be adjusted for any accrued and unpaid interest. In addition, following certain make-whole fundamental changes occurring prior to the maturity date of the 2026 Notes or upon our issuance of a notice of redemption, we will in certain circumstances increase the exchange rate for holders of the 2026 Notes who elect to exchange their 2026 Notes in connection with that make-whole fundamental change or during the related redemption period. Prior to March 15, 2026, the 2026 Notes will be exchangeable only upon satisfaction of certain conditions and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date.

As of December 31, 2024 and 2023, the “if converted value” did not exceed the principal amount of the 2026 Notes.

The total liability is reflected net of issuance costs of $15.3 million which will be amortized over the term of the 2026 Notes. We have determined the expected life of the 2026 Notes to be equal to the original six-year term. The effective interest rate of the 2026 Notes is 2.26%.

2024 Notes

In 2017, we completed a private placement of $575.0 million principal amount of 2024 Notes. We used the net proceeds from this offering to repay $500.0 million in outstanding loans under the Initial Revolving Credit Facility and to pay related fees and expenses. We used the remainder of the net proceeds for general corporate purposes. Interest on the 2024 Notes was payable semi-annually in cash in arrears on February 15 and August 15 of each year, beginning on February 15, 2018, at a rate of 1.50% per year. The 2024 Notes were exchangeable at an initial exchange rate of 4.5659 ordinary shares per $1,000 principal amount of 2024 Notes, which was equivalent to an initial exchange price of approximately $219.02 per ordinary share.

On August 15, 2024, the maturity date for the 2024 Notes, we repaid the $575.0 million aggregate principal amount, plus accrued and unpaid interest thereon.

The Exchangeable Senior Notes were issued by Jazz Investments I Limited, or the Issuer, a 100%-owned finance subsidiary of Jazz Pharmaceuticals plc. The Exchangeable Senior Notes are senior unsecured obligations of the Issuer and are fully and unconditionally guaranteed on a senior unsecured basis by Jazz Pharmaceuticals plc. No subsidiary of Jazz Pharmaceuticals plc guaranteed the Exchangeable Senior Notes. Subject to certain local law restrictions on payment of dividends, among other things, and potential negative tax consequences, we are not aware of any significant restrictions on the ability of Jazz Pharmaceuticals plc to obtain funds from the Issuer or Jazz Pharmaceuticals plc’s other subsidiaries by dividend or loan, or any legal or economic restrictions on the ability of the Issuer or Jazz Pharmaceuticals plc’s other subsidiaries to transfer funds to Jazz Pharmaceuticals plc in the form of cash dividends, loans or advances. There is no assurance that in the future such restrictions will not be adopted.

For the year ended December 31, 2024, we recognized $40.0 million, in interest expense, net, of which $35.3 million related to the contractual coupon rate and $4.7 million related the amortization of the debt issuance costs on the 2024 Notes and the Exchangeable Senior Notes. For the years ended December 31, 2023 and 2022, we recognized $32.8 million in interest expense, net, of which $28.6 million related to the contractual coupon rate and $4.2 million related to the amortization of the debt issuance costs.

Scheduled maturities with respect to our long-term debt are as follows (in thousands):


Year Ending December 31,	Scheduled Long-Term Debt Maturities
2025	$	31,000
2026	1,031,000
2027	31,000
2028	2,598,500
2029	1,500,000
Thereafter	1,000,000
Total	$	6,191,500

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Cash and Available-for-Sale Securities

12 Months Ended

Dec. 31, 2024

Cash and Cash Equivalents [Abstract]

Cash and Available-for-Sale Securities

Cash, cash equivalents and investments consisted of the following (in thousands):


	December 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Cash and Cash Equivalents		Investments
Cash	$	948,894	$	—	$	—	$	948,894	$	948,894	$	—
Time deposits	790,000		—		—		790,000		210,000		580,000
Money market funds	1,253,970		—		—		1,253,970		1,253,970		—
Totals	$	2,992,864	$	—	$	—	$	2,992,864	$	2,412,864	$	580,000


	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Cash and Cash Equivalents		Investments
Cash	$	437,724	$	—	$	—	$	437,724	$	437,724	$	—
Time deposits	420,000		—		—		420,000		300,000		120,000
Money market funds	768,586		—		—		768,586		768,586		—
Totals	$	1,626,310	$	—	$	—	$	1,626,310	$	1,506,310	$	120,000

Cash equivalents and investments are considered available-for-sale securities. We use the specific-identification method for calculating realized gains and losses on securities sold and include them in interest expense, net in the consolidated statements of income (loss). Our investment balances represent time deposits with original maturities of greater than three months and less than one year. Interest income from available-for-sale securities was $106.3 million, $65.1 million and $11.5 million in 2024, 2023 and 2022, respectively.

Debt - 2024 Senior Secured Notes Narrative (Details)		12 Months Ended
Debt - 2024 Senior Secured Notes Narrative (Details)	Aug. 15, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2017 USD ($) $ / shares
Debt Instrument [Line Items]
Repayments of convertible debt		$ 575,000,000	$ 0	$ 0
Jazz Investments I Limited
Debt Instrument [Line Items]
Ownership percentage (as a percentage)		100.00%
Borrowings under revolving credit facility
Debt Instrument [Line Items]
Repayments under revolving credit facility					$ 500,000,000
2024 Notes \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, face amount					$ 575,000,000
Interest rate (as a percentage)					1.50%
Conversion rate of shares (in shares per dollar)					0.0045659
Debt conversion price (in dollars per share) \| $ / shares					$ 219.02
Repayments of convertible debt	$ 575,000,000
Interest expense, net		$ 40,000,000	32,800,000	32,800,000
Contractual coupon rate interest expense		35,300,000	28,600,000	28,600,000
Amortization of debt issuance costs		$ 4,700,000	$ 4,200,000	$ 4,200,000

Net Income (Loss) per Ordinary Share (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Income (Loss) per Ordinary Share Computation

Basic and diluted net income (loss) per ordinary share were computed as follows (in thousands, except per share amounts):


	Year Ended December 31,
	2024		2023		2022
Numerator:




Net income (loss)	$	560,120	$	414,832	$	(224,060)
Effect of interest on assumed conversions of the 2026 Notes and the 2024 Notes, net of tax	10,762		24,876		—
Net income (loss) for dilutive net income (loss) per ordinary share	$	570,882	$	439,708	$	(224,060)

Denominator:
Weighted-average ordinary shares used in per share calculations - basic	61,838		63,291		62,539
Dilutive effect of the 2026 Notes and the 2024 Notes	3,540		8,016		—
Dilutive effect of employee equity incentive and purchase plans	629		759		—
Weighted-average ordinary shares used in per share calculations - diluted	66,007		72,066		62,539

Net income (loss) per ordinary share:



Basic	$	9.06	$	6.55	$	(3.58)



Diluted	$	8.65	$	6.10	$	(3.58)

Schedule of Weighted-Average Ordinary Shares Excluded from Computation of Diluted Net Income (Loss) per Share

The following table represents the weighted-average ordinary shares that were excluded from the computation of diluted net income (loss) per ordinary share for the years presented because including them would have an anti-dilutive effect (in thousands):


	Year Ended December 31,
	2024	2023	2022
Employee equity incentive and purchase plans	4,074	2,973	2,751
2026 Notes and 2024 Notes	—	—	9,044

Debt - Credit Agreement Narrative (Details) € in Millions, $ in Millions		1 Months Ended							12 Months Ended
	May 05, 2021 USD ($)	Jan. 31, 2025 USD ($)	Nov. 30, 2024 USD ($)	Jul. 31, 2024 USD ($) Rate	Sep. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2022 EUR (€)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 EUR (€)	Dec. 31, 2024 USD ($) Rate	Oct. 31, 2024 USD ($)	Jan. 31, 2024 USD ($)
Line of Credit \| Secured Overnight Financing Rate (SOFR) \| Borrowings under revolving credit facility \| Debt Interest Rate Period Two, Term SOFR Floor
Debt Instrument [Line Items]
Basis spread on variable rate			0.00%
Term Loan
Debt Instrument [Line Items]
Interest rate (as a percentage) \| Rate											3.9086%
Credit Agreement June 2015 \| Term Loan
Debt Instrument [Line Items]
Repayment of debt	$ 575.9
2021 Credit Agreement, Euro Term Loan \| Line of Credit
Debt Instrument [Line Items]
Repayment of debt						$ 251.0	€ 208.3		$ 502.0	€ 416.7
Interest rate (as a percentage)						4.43%	4.43%
Effective interest rate (as a percentage)						4.93%	4.93%
Tranche B-1 Dollar Term Loan \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, face amount													$ 201.9
Tranche B 2 Dollar Term Loan \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, decrease in basis spread on variable rate \| Rate				0.75%
Tranche B 2 Dollar Term Loan \| Line of Credit
Debt Instrument [Line Items]
Interest rate (as a percentage) \| Rate											6.61%
Effective interest rate (as a percentage) \| Rate											8.27%
Debt instrument, face amount				$ 289.6
Remaining borrowing capacity				$ 2,700.0
Tranche B 2 Dollar Term Loan \| Line of Credit \| Borrowings under revolving credit facility
Debt Instrument [Line Items]
Debt covenant, term loan amount outstanding threshold			$ 500.0
Tranche B 2 Dollar Term Loan \| Line of Credit \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate \| Rate				2.25%
Tranche B 2 Dollar Term Loan \| Line of Credit \| Secured Overnight Financing Rate (SOFR) \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate				0.50%
Tranche B 2 Dollar Term Loan \| Line of Credit \| Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate \| Rate				1.25%
2021 Credit Agreement, Revolving Credit Facility \| Line of Credit \| Borrowings under revolving credit facility
Debt Instrument [Line Items]
Remaining borrowing capacity											$ 885.0
Line of credit, maximum borrowing capacity			$ 885.0									$ 500.0
Debt covenant, maturity date extension option, number of days after Amended Revolving Facility Maturity Date			91 days
Debt covenant, unrestricted cash requirement, percentage of principal outstanding			125.00%
Debt covenant, revolving credit facility, outstanding amount threshold											$ 50.0
2021 Credit Agreement, Revolving Credit Facility \| Line of Credit \| Minimum \| Borrowings under revolving credit facility
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage (as a percentage)			0.25%
2021 Credit Agreement, Revolving Credit Facility \| Line of Credit \| Maximum \| Borrowings under revolving credit facility
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage (as a percentage)			0.45%
2021 Credit Agreement, Revolving Credit Facility \| Line of Credit \| Secured Overnight Financing Rate (SOFR) \| Borrowings under revolving credit facility \| Debt Interest Rate Period One
Debt Instrument [Line Items]
Basis spread on variable rate			2.00%
2021 Credit Agreement, Revolving Credit Facility \| Line of Credit \| Secured Overnight Financing Rate (SOFR) \| Minimum \| Borrowings under revolving credit facility \| Debt Interest Rate Period Two
Debt Instrument [Line Items]
Basis spread on variable rate			1.75%
2021 Credit Agreement, Revolving Credit Facility \| Line of Credit \| Secured Overnight Financing Rate (SOFR) \| Maximum \| Borrowings under revolving credit facility \| Debt Interest Rate Period Two
Debt Instrument [Line Items]
Basis spread on variable rate			2.75%
2021 Credit Agreement, Revolving Credit Facility \| Line of Credit \| Prime Rate \| Borrowings under revolving credit facility \| Debt Interest Rate Period One
Debt Instrument [Line Items]
Basis spread on variable rate			1.00%
2021 Credit Agreement, Revolving Credit Facility \| Line of Credit \| Prime Rate \| Minimum \| Borrowings under revolving credit facility \| Debt Interest Rate Period Two
Debt Instrument [Line Items]
Basis spread on variable rate			0.75%
2021 Credit Agreement, Revolving Credit Facility \| Line of Credit \| Prime Rate \| Maximum \| Borrowings under revolving credit facility \| Debt Interest Rate Period Two
Debt Instrument [Line Items]
Basis spread on variable rate			1.75%
2021 Credit Agreement, Dollar Term Loan \| Line of Credit
Debt Instrument [Line Items]
Repayment of debt					$ 300.0
Debt instrument, redemption price, percentage of principal amount redeemed (as a percent)								1.00%
Debt repurchased amount								$ 3,100.0
Quarterly amortization rate, percentage (as a percentage)											0.28629%
2021 Credit Agreement, Dollar Term Loan \| Line of Credit \| Subsequent Event
Debt Instrument [Line Items]
Repayment of debt		$ 750.0

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Expense Related to Share Options, RSUs, PSRUs and Grants Under ESPP

Share-based compensation expense related to RSUs, PRSUs, grants under our ESPP and share options was as follows (in thousands):


	Year Ended December 31,
	2024		2023		2022
Selling, general and administrative	$	158,570	$	146,942	$	151,986
Research and development	74,673		64,847		57,522
Cost of product sales	14,802		15,052		12,488
Total share-based compensation expense, pre-tax	248,045		226,841		221,996
Income tax benefit from share-based compensation expense	(40,552)		(40,015)		(41,058)
Total share-based compensation expense, net of tax	$	207,493	$	186,826	$	180,938

Schedule of RSU and PRSU Activity

The following table summarizes information as of December 31, 2024 and activity during 2024 related to our RSUs:


	Number of RSUs (In thousands)	Weighted- Average Grant-Date Fair Value		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In thousands)
Outstanding at January 1, 2024	3,563	$	148.79
RSUs granted	2,260	118.41
RSUs released	(1,341)	147.14
RSUs forfeited	(449)	137.25

Outstanding at December 31, 2024	4,033	$	133.60	1.3	$	496,716

The following table summarizes information as of December 31, 2024 and activity during 2024 related to our PRSUs:


	Number of PRSUs (In thousands)	Weighted- Average Grant-Date Fair Value		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In thousands)
Outstanding at January 1, 2024	664	$	173.30
PRSUs granted	377	131.04
PRSUs released	(124)	190.81
PRSUs forfeited	(136)	169.40

Outstanding at December 31, 2024	781	$	150.82	1.1	$	96,218

Schedule of Information and Activity Related to Share Option Plans Activity

The following table summarizes information as of December 31, 2024 and activity during 2024 related to our share option plans:


	Shares Subject to Outstanding Options (In thousands)	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In thousands)
Outstanding at January 1, 2024	2,716	$	141.55

Options exercised	(14)	115.81
Options forfeited	(8)	163.35
Options expired	(536)	148.99
Outstanding at December 31, 2024	2,158	$	139.79	3.2	$	3,562
Vested and expected to vest at December 31, 2024	2,158	$	139.79	3.2	$	3,562
Exercisable at December 31, 2024	2,158	$	139.79	3.2	$	3,562

The following table summarizes information as of December 31, 2024 and activity during 2024 related to our nominal strike price options:


	Shares Subject to Outstanding Options (In thousands)	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In thousands)
Outstanding at January 1, 2024	27	$	0.02

Options exercised	(8)	0.02


Outstanding at December 31, 2024	19	$	0.02	6.0	$	2,374
Vested and expected to vest at December 31, 2024	19	$	0.02	6.0	$	2,374
Exercisable at December 31, 2024	19	$	0.02	6.0	$	2,374

Collaborations and Disposition	12 Months Ended
Collaborations and Disposition	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaborations and Disposition	Collaborations and Disposition License Agreements In February 2024, we entered into a definitive asset purchase agreement with Redx to acquire global rights to a KRAS inhibitor program. Under the terms of the agreement, we made an upfront payment of $10.0 million to Redx which was recorded as acquired IPR&D expense in our consolidated statements of income (loss) for the year ended December 31, 2024. Redx is eligible to receive development and commercial milestone payments of up to $870.0 million and, if a product is approved, a tiered, mid-single-digit percentage royalty on net sales of that product. In November 2023, we entered into an exclusive licensing and collaboration agreement with Autifony to discover and develop drug candidates targeting two different ion channel targets associated with neurological disorders. Under the terms of the agreement, we made an upfront payment of $18.0 million to Autifony, which was recorded as acquired IPR&D expense in our consolidated statements of income (loss) for the year ended December 31, 2023. Autifony is eligible to receive development and commercial milestone payments of up to $752.5 million and, if a product is approved, a tiered, mid-single-digit percentage royalty on net sales of that product. In October 2022, we entered into an exclusive licensing and collaboration agreement with Zymeworks providing us the right to acquire development and commercialization rights to Zymeworks' zanidatamab across all indications in the United States, Europe, Japan and all other territories except for those Asia/Pacific territories previously licensed by Zymeworks. In December 2022, we exercised the option to continue with the exclusive development and commercialization rights to zanidatamab. Zanidatamab is a bispecific antibody that can simultaneously bind two non-overlapping epitopes of HER2, known as biparatopic binding. Under the terms of the agreement, Zymeworks received an upfront payment of $50.0 million and, following our decision to continue the collaboration after the readout of the top-line clinical data from HERIZON-BTC-01, a second, one-time payment of $325.0 million. We recorded the $375.0 million as acquired IPR&D expense in our consolidated statements of income (loss) for the year ended December 31, 2022. In November 2024, we announced FDA accelerated approval of Ziihera for the treatment of adults with previously treated, unresectable or metastatic HER2-positive biliary tract cancer, triggering a regulatory milestone payment of $25.0 million, which was capitalized as an intangible asset on our consolidated balance sheet. Zymeworks is also eligible to receive regulatory and commercial milestone payments of up to $1.4 billion, for total potential payments of $1.8 billion, as well as incremental tiered royalties on future net sales of Ziihera ranging from 10% to 20%. In May 2022, we entered into a licensing agreement with Sumitomo to acquire exclusive development and commercialization rights in the U.S., Europe and other territories for DSP-0187, now referred to as JZP441. JZP441 is a potent, highly selective oral orexin-2 receptor agonist with potential application for the treatment of narcolepsy, IH and other sleep disorders. Under the terms of the agreement, we made an upfront payment of $50.0 million to Sumitomo, which was recorded as acquired IPR&D expense in our consolidated statements of income (loss) for the year ended December 31, 2022. Sumitomo is eligible to receive development, regulatory and commercial milestone payments of up to $1.09 billion and, if JZP441 is approved, a tiered, low double-digit royalty on Jazz's net sales of JZP441. In April 2022, we entered into a licensing and collaboration agreement with Werewolf to acquire exclusive global development and commercialization rights to Werewolf's investigational WTX-613, now referred to as JZP898. JZP898 is a differentiated, conditionally-activated interferon alpha (IFNα) INDUKINE™ molecule. We made an upfront payment of $15.0 million to Werewolf in 2022, which was recorded as acquired IPR&D expense in our consolidated statements of income (loss) for the year ended December 31, 2022, and a milestone payment of $5.0 million in September 2023 which was recorded within research and development expense in our consolidated statements of income (loss) for the year ended December 31, 2023. Werewolf is eligible to receive further development, regulatory and commercial milestone payments of up to $1.26 billion and, if JZP898 is approved, a tiered, mid-single-digit percentage royalty on net sales of JZP898. Sunosi Disposition In March 2022, we entered into a definitive agreement to divest Sunosi to Axsome. In May 2022, we completed the U.S. divestiture and in November 2022, the ex-U.S. divestiture was completed. Under the terms of the sale agreement, Axsome received the rights to Sunosi in all of the existing territories available to us. We received an upfront payment of $53.0 million, and have the right to receive a high single-digit royalty on Axsome’s U.S. net sales of Sunosi in current indications and a mid-single-digit royalty on Axsome’s U.S. net sales of Sunosi in future indications. Upon closing, we recognized a loss on disposal of $40.8 million within selling, general and administrative expenses in our consolidated statements of income (loss) in the year ended December 31, 2022. We are accounting for the contingent consideration in the form of the future royalty as it is earned. We determined that the disposal of Sunosi did not qualify for reporting as a discontinued operation since it did not represent a strategic shift that has or will have a major effect on our operations and financial results.

Derivative Instruments and Hedging Activities - Schedule of Gains and Losses on Derivative Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Gain recognized in accumulated other comprehensive loss, net of tax	$ 5,298	$ 3,658	$ 0
Gain reclassified from accumulated other comprehensive loss to interest expense, net of tax	(4,793)	(3,423)	$ 0
Interest rate contracts \| Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gain recognized in accumulated other comprehensive loss, net of tax	5,298	3,658
Gain reclassified from accumulated other comprehensive loss to interest expense, net of tax	$ (4,793)	$ (3,423)

Share-Based Compensation - Schedule of RSUs and PRSUs Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restricted Stock Units (RSUs)
Number of RSUs and PRSUs [Roll Forward]
Number of RSUs and PRSUs, outstanding, beginning balance (in shares)	3,563
Number of RSUs and PRSUs granted (in shares)	2,260
Number of RSUs and PRSUs released (in shares)	(1,341)	(1,094)	(910)
Number of RSUs and PRSUs forfeited (in shares)	(449)
Number of RSUs and PRSUs, outstanding, ending balance (in shares)	4,033	3,563
Weighted- Average Grant-Date Fair Value
Weighted-average grant-date fair value, outstanding, beginning balance (in dollars per share)	$ 148.79
Weighted-average grant-date fair value, RSUs and PRSUs granted (in dollars per share)	118.41	$ 144.65	$ 152.08
Weighted-average grant-date fair value, RSUs and PRSUs released (in dollars per share)	147.14
Weighted-average grant-date fair value, RSUs and PRSUs forfeited (in dollars per share)	137.25
Weighted-average grant-date fair value, outstanding, ending balance (in dollars per share)	$ 133.60	$ 148.79
Weighted-average remaining contractual term, outstanding	1 year 3 months 18 days
Aggregate intrinsic value, outstanding	$ 496,716
Performance-Based Restricted Stock Units (PRSUs)
Number of RSUs and PRSUs [Roll Forward]
Number of RSUs and PRSUs, outstanding, beginning balance (in shares)	664
Number of RSUs and PRSUs granted (in shares)	377
Number of RSUs and PRSUs released (in shares)	(124)
Number of RSUs and PRSUs forfeited (in shares)	(136)
Number of RSUs and PRSUs, outstanding, ending balance (in shares)	781	664
Weighted- Average Grant-Date Fair Value
Weighted-average grant-date fair value, outstanding, beginning balance (in dollars per share)	$ 173.30
Weighted-average grant-date fair value, RSUs and PRSUs granted (in dollars per share)	131.04	$ 156.91	$ 178.78
Weighted-average grant-date fair value, RSUs and PRSUs released (in dollars per share)	190.81
Weighted-average grant-date fair value, RSUs and PRSUs forfeited (in dollars per share)	169.40
Weighted-average grant-date fair value, outstanding, ending balance (in dollars per share)	$ 150.82	$ 173.30
Weighted-average remaining contractual term, outstanding	1 year 1 month 6 days
Aggregate intrinsic value, outstanding	$ 96,218

Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Comprehensive Income (Loss)

Comprehensive income (loss) includes net income (loss) and all changes in shareholders’ equity during a period, except for those changes resulting from investments by shareholders or distributions to shareholders.

Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss as of December 31, 2024 and 2023 were as follows (in thousands):


	Net Unrealized Gain From Hedging Activities		Foreign Currency Translation Adjustments		Total Accumulated Other Comprehensive Loss
Balance at December 31, 2023	$	235	$	(842,382)	$	(842,147)


Other comprehensive income (loss) before reclassifications	5,298		(106,025)		(100,727)
Amounts reclassified from accumulated other comprehensive loss	(4,793)		—		(4,793)
Other comprehensive income (loss), net	505		(106,025)		(105,520)
Balance at December 31, 2024	$	740	$	(948,407)	$	(947,667)

In 2024, other comprehensive income (loss) primarily reflects foreign currency translation adjustments due to the weakening of sterling and the euro against the U.S. dollar.

Income Taxes - Schedule of Current and Non-current Deferred Assets (Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Deferred tax assets	$ 560,245	$ 477,834
Deferred tax liabilities	(676,736)	(847,706)
Net deferred tax liabilities	$ (116,491)	$ (369,872)

Debt - 2029 Senior Secured Notes Narrative (Details) - Secured Notes - Senior Secured Debt - Jazz Securities Designated Activity Company	Apr. 29, 2021	Dec. 31, 2024
Debt Instrument [Line Items]
Interest rate (as a percentage)	4.375%	4.375%
Effective interest rate (as a percentage)		4.64%
Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price, percentage (as a percentage)	100.00%
Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price, percentage (as a percentage)	101.00%
Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption price, percentage (as a percentage)	100.00%

Comprehensive Income (Loss) - Schedule of Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 3,736,997	$ 3,085,734	$ 3,965,191
Other comprehensive income (loss) before reclassifications	(100,727)
Amounts reclassified from accumulated other comprehensive loss	(4,793)
Other comprehensive income (loss), net	(105,520)	283,362	(725,149)
Ending balance	4,093,756	3,736,997	3,085,734
Total Accumulated Other Comprehensive Loss
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(842,147)	(1,125,509)	(400,360)
Other comprehensive income (loss), net	(105,520)	283,362	(725,149)
Ending balance	(947,667)	(842,147)	$ (1,125,509)
Net Unrealized Gain From Hedging Activities
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	235
Other comprehensive income (loss) before reclassifications	5,298
Amounts reclassified from accumulated other comprehensive loss	(4,793)
Other comprehensive income (loss), net	505
Ending balance	740	235
Foreign Currency Translation Adjustments
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(842,382)
Other comprehensive income (loss) before reclassifications	(106,025)
Amounts reclassified from accumulated other comprehensive loss	0
Other comprehensive income (loss), net	(106,025)
Ending balance	$ (948,407)	$ (842,382)

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

Derivative Instruments and Hedging Activities - Schedule of Fair Value of Outstanding Derivatives (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 3,241	$ 21,819
Liability Derivatives	10,198	4,091
Derivatives designated as hedging instruments \| Interest rate contracts \| Other current assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	959	3,784
Derivatives designated as hedging instruments \| Interest rate contracts \| Accrued liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	0	0
Derivatives designated as hedging instruments \| Interest rate contracts \| Other non-current assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	32	0
Derivatives designated as hedging instruments \| Interest rate contracts \| Other non-current liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	0	3,410
Derivatives not designated as hedging instruments \| Foreign exchange forward contracts \| Other current assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	2,250	18,035
Derivatives not designated as hedging instruments \| Foreign exchange forward contracts \| Accrued liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 10,198	$ 681

Net Income (Loss) per Ordinary Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Net Income (Loss) per Ordinary Share

Basic net income (loss) per ordinary share is based on the weighted-average number of ordinary shares outstanding. Diluted net income (loss) per ordinary share is based on the weighted-average number of ordinary shares outstanding and potentially dilutive ordinary shares outstanding.

Basic and diluted net income (loss) per ordinary share were computed as follows (in thousands, except per share amounts):


	Year Ended December 31,
	2024		2023		2022
Numerator:




Net income (loss)	$	560,120	$	414,832	$	(224,060)
Effect of interest on assumed conversions of the 2026 Notes and the 2024 Notes, net of tax	10,762		24,876		—
Net income (loss) for dilutive net income (loss) per ordinary share	$	570,882	$	439,708	$	(224,060)

Denominator:
Weighted-average ordinary shares used in per share calculations - basic	61,838		63,291		62,539
Dilutive effect of the 2026 Notes and the 2024 Notes	3,540		8,016		—
Dilutive effect of employee equity incentive and purchase plans	629		759		—
Weighted-average ordinary shares used in per share calculations - diluted	66,007		72,066		62,539

Net income (loss) per ordinary share:



Basic	$	9.06	$	6.55	$	(3.58)



Diluted	$	8.65	$	6.10	$	(3.58)

Potentially dilutive ordinary shares from our employee equity incentive and purchase plans are determined by applying the treasury stock method to the assumed vesting of outstanding RSUs and PRSUs, the assumed exercise of share options and the assumed issuance of ordinary shares under our ESPP.

On January 1, 2022, we adopted ASU No. 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging— Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” on a modified retrospective basis, which requires the use of the if-converted method to calculate potentially dilutive ordinary shares for convertible instruments.

In August 2023, we made an irrevocable election to fix the settlement method for exchanges of the 2024 Notes to a combination of cash and ordinary shares of the Company with a specified cash amount per $1,000 principal amount of the 2024 Notes of $1,000. As a result of the election, an exchanging holder will receive (i) up to $1,000 in cash per $1,000 principal amount of 2024 Notes exchanged and (ii) cash, ordinary shares, or any combination thereof, at our election, in respect of the remainder, if any, of its exchange obligation in excess of $1,000 per $1,000 principal amount of 2024 Notes exchanged. As a result, the assumed issuance of ordinary shares upon exchange of the 2024 Notes has only been included in the calculation of diluted net income per ordinary share in 2023 up to the date the irrevocable election was made.

In July 2024, we irrevocably elected to fix the settlement method for exchanges of the 2026 Notes to a combination of cash and ordinary shares of Jazz Pharmaceuticals plc with a specified cash amount per $1,000 principal amount of 2026 Notes exchanged equal to or in excess of $1,000. As a result of the election, an exchanging holder will receive (i) up to $1,000 in cash per $1,000 principal amount of 2026 Notes exchanged and (ii) cash, ordinary shares, or any combination thereof, at our election, in respect of the remainder, if any, of its exchange obligation in excess of $1,000 per $1,000 principal amount of 2026 Notes exchanged. As a result, the assumed issuance of ordinary shares upon exchange of the 2026 Notes has only been included in the calculation of diluted net income per ordinary share in 2024, up to the date the irrevocable election was made.

The potential issue of ordinary shares upon exchange of the 2026 Notes and the 2024 Notes was anti-dilutive and had no impact on diluted net loss per ordinary share for 2022.

For the 2030 Notes, we are required to settle the principal amount in cash and have the option to settle the conversion feature for the amount above the conversion price, or the conversion spread, in cash, ordinary shares or a combination of cash and ordinary shares. The conversion spread will have a dilutive impact on diluted net income per ordinary share when the average market price of our ordinary shares for a given period exceeds the conversion price of the 2030 Notes. For the year ended December 31, 2024, the 2030 Notes have been excluded from the computation of diluted net income per ordinary share, as the effect would be anti-dilutive since the conversion price of the 2030 Notes exceeded the average market price of our ordinary shares for the year ended December 31, 2024.


	Year Ended December 31,
	2024	2023	2022
Employee equity incentive and purchase plans	4,074	2,973	2,751
2026 Notes and 2024 Notes	—	—	9,044

Inventories (Tables)

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Schedule of Components of Inventories

Inventories consisted of the following (in thousands):


	December 31,
	2024		2023
Raw materials	$	20,161	$	25,595
Work in process	311,752		431,732
Finished goods	148,532		139,712
Total inventories	$	480,445	$	597,039

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Foreign Exchange Gain (Loss) of Outstanding Derivatives


	Year Ended December 31,
Foreign Exchange Forward Contracts:	2024		2023		2022
Gain (loss) recognized in foreign exchange gain (loss)	$	(14,444)	$	13,543	$	(58,755)

Schedule of Gains (Losses) on Derivative Instruments

The impact on accumulated other comprehensive loss and earnings from derivative instruments that qualified as cash flow hedges was as follows (in thousands):


	Year Ended December 31,
Interest Rate Contracts:	2024		2023
Gain recognized in accumulated other comprehensive loss, net of tax	$	5,298	$	3,658
Gain reclassified from accumulated other comprehensive loss to interest expense, net of tax	(4,793)		(3,423)

Schedule of Income (Losses) on Derivative Instruments

The impact on accumulated other comprehensive loss and earnings from the cross-currency interest rate swap contract was as follows (in thousands):


	Year Ended December 31,
Cross-Currency Interest Rate Contract:	2022

Loss reclassified from accumulated other comprehensive loss to foreign exchange loss, net of tax	$	128
Loss recognized in foreign exchange loss	2,646

Schedule of the Fair Value of Outstanding Derivatives

The following tables summarize the fair value of outstanding derivatives (in thousands):


	December 31, 2024
	Asset Derivatives			Liability Derivatives
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments:
Interest rate contracts	Other current assets	$	959	Accrued liabilities	$	—
	Other non-current assets	32		Other non-current liabilities	—
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	Other current assets	2,250		Accrued liabilities	10,198

Total fair value of derivative instruments		$	3,241		$	10,198


	December 31, 2023
	Asset Derivatives			Liability Derivatives
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments:
Interest rate contracts	Other current assets	$	3,784	Accrued liabilities	$	—
	Other non-current assets	—		Other non-current liabilities	3,410
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	Other current assets	18,035		Accrued liabilities	681
Total fair value of derivative instruments		$	21,819		$	4,091

Schedule of Offsetting Assets

The following table summarizes the potential effect on our consolidated balance sheets of offsetting our interest rate and foreign exchange forward contracts subject to such provisions (in thousands):


	December 31, 2024
	Gross Amounts of Recognized Assets/ Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts Not Offset in the Consolidated Balance Sheet
Description							Derivative Financial Instruments		Cash Collateral Received (Pledged)		Net Amount
Derivative assets	$	3,241	$	—	$	3,241	$	(2,910)	$	—	$	331
Derivative liabilities	(10,198)		—		(10,198)		2,910		—		(7,288)


	December 31, 2023
	Gross Amounts of Recognized Assets/ Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts Not Offset in the Consolidated Balance Sheet
Description							Derivative Financial Instruments		Cash Collateral Received (Pledged)		Net Amount
Derivative assets	$	21,819	$	—	$	21,819	$	(4,091)	$	—	$	17,728
Derivative liabilities	(4,091)		—		(4,091)		4,091		—		—

Schedule of Offsetting Liabilities


	December 31, 2024
	Gross Amounts of Recognized Assets/ Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts Not Offset in the Consolidated Balance Sheet
Description							Derivative Financial Instruments		Cash Collateral Received (Pledged)		Net Amount
Derivative assets	$	3,241	$	—	$	3,241	$	(2,910)	$	—	$	331
Derivative liabilities	(10,198)		—		(10,198)		2,910		—		(7,288)


	December 31, 2023
	Gross Amounts of Recognized Assets/ Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts Not Offset in the Consolidated Balance Sheet
Description							Derivative Financial Instruments		Cash Collateral Received (Pledged)		Net Amount
Derivative assets	$	21,819	$	—	$	21,819	$	(4,091)	$	—	$	17,728
Derivative liabilities	(4,091)		—		(4,091)		4,091		—		—

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2024
Auditor Information [Abstract]
Auditor Name	KPMG
Auditor Location	Dublin, Ireland
Auditor Firm ID	1116

Summary of Significant Accounting Policies - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Summary Of Significant Accounting Policies [Line Items]
Intangible asset amortization	$ 627,313,000	$ 608,284,000	$ 599,169,000
Advertising expenses	107,400,000	92,200,000	108,800,000
Insurance premium payable	0	0	0
Assets and liabilities of consolidated entity	0	0
Acquired Developed Technologies
Summary Of Significant Accounting Policies [Line Items]
Intangible asset amortization	$ 627,300,000	$ 608,300,000	$ 599,200,000
Minimum
Summary Of Significant Accounting Policies [Line Items]
Finite-lived intangible asset, useful life	7 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Finite-lived intangible asset, useful life	16 years
Customer concentration risk \| Accounts Receivable \| Five Customers
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	80.00%	79.00%
Customer concentration risk \| Accounts Receivable \| ESSDS
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	39.00%	41.00%
Customer concentration risk \| Accounts Receivable \| ASD
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	15.00%	13.00%
Customer concentration risk \| Accounts Receivable \| McKesson
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	13.00%	11.00%
Foreign exchange forward contracts \| Derivatives not designated as hedging instruments
Summary Of Significant Accounting Policies [Line Items]
Notional amount	$ 461,200,000	$ 511,700,000
Net asset (liability) fair value	(7,900,000)	17,400,000
Interest Rate Swap \| Derivatives designated as hedging instruments
Summary Of Significant Accounting Policies [Line Items]
Notional amount	500,000,000.0	500,000,000.0
Net asset (liability) fair value	$ 1,000,000.0	$ 400,000

Shareholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Jul. 31, 2024
Stockholders' Equity Note [Line Items]
Cash dividends declared or paid	$ 0	$ 0
Maximum allowable dividend and restricted payments	$ 350,000,000
Maximum allowable dividend and restricted percentage	3.50%
Maximum secured leverage ratio, for restricted payments to be allowed	5
Minimum secured leverage ratio, for restricted payments to be allowed	4
Ordinary Shares \| July 2024 Share Repurchase Program
Stockholders' Equity Note [Line Items]
Total amount authorized for repurchase of shares under share repurchase program			$ 500,000,000
Stock repurchased	$ 150,000,000
Stock repurchased (in shares)	1.4
Average price of shares repurchased (in dollars per share)	$ 109.32
Remaining amount authorized for repurchase of shares	$ 350,000,000
Ordinary Shares \| November 2016 Share Repurchase Program
Stockholders' Equity Note [Line Items]
Total amount authorized for repurchase of shares under share repurchase program			$ 1,500,000,000
Stock repurchased	$ 161,400,000	$ 269,800,000
Stock repurchased (in shares)	1.5	2.1
Average price of shares repurchased (in dollars per share)	$ 110.75	$ 126.65

Share-Based Compensation - Schedule of Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation expense, pre-tax	$ 248,045	$ 226,841	$ 221,996
Income tax benefit from share-based compensation expense	(40,552)	(40,015)	(41,058)
Total share-based compensation expense, net of tax	207,493	186,826	180,938
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation expense, pre-tax	158,570	146,942	151,986
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation expense, pre-tax	74,673	64,847	57,522
Cost of product sales
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation expense, pre-tax	$ 14,802	$ 15,052	$ 12,488

Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
United States
Defined Contribution Plan Disclosure [Line Items]
Expenses related to defined contribution plans	$ 16.4	$ 13.4	$ 10.6
Outside United States
Defined Contribution Plan Disclosure [Line Items]
Expenses related to defined contribution plans	$ 15.2	$ 14.0	$ 14.6

Goodwill and Intangible Assets - Schedule of Gross Carrying Amount of Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 1,753,130
Foreign exchange	(36,807)
Goodwill, end of period	$ 1,716,323

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Section 55
-Paragraph 100
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+ Details

Segment and Other Information

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment and Other Information

Our operating segment is reported in a manner consistent with the internal reporting provided to the CODM. Our CODM has been identified as our chief executive officer. We have determined that we operate in one business segment, which is the identification, development and commercialization of meaningful pharmaceutical products that address unmet medical needs. The CODM assesses performance and decides how to allocate resources for the segment based on net income (loss) and measure of segment assets which is reported on the Consolidated Statements of Income (Loss) and Consolidated Balance Sheet.

The following table presents total long-lived assets by location (in thousands):


	December 31,
	2024		2023
Ireland	$	85,703	$	68,201
United Kingdom	77,741		80,293
United States	33,724		59,440
Italy	21,931		20,942
Other	7,896		6,110
Total long-lived assets (1)	$	226,995	$	234,986

_________________________

(1)Long-lived assets consist of property, plant and equipment and operating lease assets.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Fair Value Measurement

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurement

The following table summarizes, by major security type, our available-for-sale securities and derivative contracts that were measured at fair value on a recurring basis and were categorized using the fair value hierarchy (in thousands):


	December 31, 2024				December 31, 2023
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total Estimated Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total Estimated Fair Value
Assets:
Available-for-sale securities:
Money market funds	$	1,253,970	$	—	$	1,253,970	$	768,586	$	—	$	768,586
Time deposits	—		790,000		790,000		—		420,000		420,000
Foreign exchange forward contracts	—		2,250		2,250		—		18,035		18,035
Interest rate contracts	—		991		991		—		3,784		3,784
Totals	$	1,253,970	$	793,241	$	2,047,211	$	768,586	$	441,819	$	1,210,405
Liabilities:

Foreign exchange forward contracts	$	—	$	10,198	$	10,198	$	—	$	681	$	681
Interest rate contracts	—		—		—		—		3,410		3,410
Totals	$	—	$	10,198	$	10,198	$	—	$	4,091	$	4,091

As of December 31, 2024 and 2023, our available-for-sale securities included money market funds and time deposits and their carrying values were approximately equal to their fair values. Money market funds were measured using quoted prices in active markets, which represent Level 1 inputs and time deposits were measured at fair value using Level 2 inputs. Level 2 inputs are obtained from various third party data providers and represent quoted prices for similar assets in active markets, or these inputs were derived from observable market data, or if not directly observable, were derived from or corroborated by other observable market data.

Our derivative assets and liabilities include interest rate and foreign exchange derivatives that are measured at fair value using observable market inputs such as forward rates, interest rates, our own credit risk as well as an evaluation of our counterparties’ credit risks. Based on these inputs, the derivative assets and liabilities are classified within Level 2 of the fair value hierarchy.

There were no transfers between the different levels of the fair value hierarchy in 2024 or in 2023.

As of December 31, 2024 and 2023, the carrying amount of investments measured using the measurement alternative for equity investments without a readily determinable fair value was $4.3 million and $4.7 million, respectively. The carrying amount, which is recorded within other non-current assets, is based on the latest observable transaction price.

As of December 31, 2024, the estimated fair values of the 2026 Notes, the 2030 Notes, the Secured Notes and the Tranche B-2 Dollar Term Loans were $1.0 billion, $1.1 billion, $1.4 billion and $2.7 billion, respectively. The fair values of each of these debt facilities was estimated using quoted market prices obtained from brokers (Level 2).

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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+ Details

Leases - Schedule of Maturities of Lease Liabilities (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Operating Leases
2025	$ 16,574
2026	12,596
2027	10,314
2028	9,020
2029	6,036
Thereafter	8,344
Total lease payments	62,884
Less imputed interest	(9,615)
Present value of lease liabilities	53,269
Finance Leases
2025	837
2026	811
2027	758
2028	601
2029	601
Thereafter	3,717
Total lease payments	7,325
Less imputed interest	(2,316)
Present value of lease liabilities	$ 5,009

Debt - Schedule of Debt Maturities (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2025	$ 31,000
2026	1,031,000
2027	31,000
2028	2,598,500
2029	1,500,000
Thereafter	1,000,000
Total	$ 6,191,500

Organization and Description of Business	12 Months Ended
Organization and Description of Business	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Jazz Pharmaceuticals plc is a global biopharmaceutical company whose purpose is to innovate to transform the lives of patients and their families. We are dedicated to developing life-changing medicines for people with serious diseases - often with limited or no therapeutic options. We have a diverse portfolio of marketed medicines, including leading therapies for sleep disorders and epilepsy, and a growing portfolio of cancer treatments. Our patient-focused and science-driven approach powers pioneering research and development advancements across our robust pipeline of innovative therapeutics in oncology and neuroscience. Our lead marketed products, listed below, are approved in countries around the world to improve patient care. Neuroscience •Xywav® (calcium, magnesium, potassium, and sodium oxybates) oral solution, a product approved by FDA in July 2020, and launched in the U.S. in November 2020 for the treatment of cataplexy or EDS in patients seven years of age and older with narcolepsy, and also approved by FDA in August 2021 for the treatment of IH in adults and launched in the U.S. in November 2021. Xywav contains 92% less sodium than Xyrem®. Xywav is also approved in Canada for the treatment of cataplexy in patients with narcolepsy. •Epidiolex® (cannabidiol) oral solution, a product approved by FDA and launched in the U.S. in 2018 by GW and currently indicated for the treatment of seizures associated with LGS, DS, or TSC in patients one year of age or older; in the EU and Great Britain (where it is marketed as Epidyolex®) and other markets, it is approved for adjunctive treatment of seizures associated with LGS or DS, in conjunction with clobazam (EU and Great Britain only), in patients 2 years of age and older and for adjunctive treatment of seizures associated with TSC in patients 2 years of age and older. Oncology •Rylaze® (asparaginase erwinia chrysanthemi (recombinant)-rywn), a product approved by FDA in June 2021 and launched in the U.S. in July 2021 for use as a component of a multi-agent chemotherapeutic regimen for the treatment of ALL or LBL in adults and pediatric patients aged one month or older who have developed hypersensitivity to E. coli-derived asparaginase. In September 2023, the European Commission granted marketing authorization under the trade name Enrylaze. This therapy is also approved in markets including Great Britain, Canada and Switzerland. •Zepzelca® (lurbinectedin), a product approved by FDA in June 2020 under FDA's accelerated approval pathway and launched in the U.S. in July 2020 for the treatment of adult patients with metastatic SCLC with disease progression on or after platinum-based chemotherapy; in Canada, Zepzelca received conditional approval in September 2021 for the treatment of adults with Stage III or metastatic SCLC, who have progressed on or after platinum-containing therapy. •Ziihera® (zanidatamab-hrii), a product approved by FDA in November 2024 under FDA’s accelerated approval pathway and launched in the U.S. in December 2024 for the treatment of adults with previously treated, unresectable or metastatic HER2-positive (IHC 3+) BTC, as detected by an FDA-approved test. Throughout this report, unless otherwise indicated or the context otherwise requires, all references to “Jazz Pharmaceuticals,” “the registrant,” "the Company", “we,” “us,” and “our” refer to Jazz Pharmaceuticals plc and its consolidated subsidiaries. Throughout this report, all references to “ordinary shares” refer to Jazz Pharmaceuticals plc’s ordinary shares.

Income Taxes - Schedule of Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits
Balance at the beginning of the year	$ 122,694	$ 143,976	$ 137,867
Increases related to current year tax positions	32,559	15,004	25,128
Increases related to prior year tax positions	0	224	2,794
Decreases related to prior year tax positions	(150)	(12,702)	(164)
Decreases related to settlements with taxing authorities	(2,605)	0	(223)
Lapse of the applicable statute of limitations	(26,520)	(23,808)	(21,426)
Balance at the end of the year	$ 125,978	$ 122,694	$ 143,976

Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leases

We have noncancelable leases for our buildings and growing facilities and we are obligated to make payments under noncancelable operating leases for automobiles used by our sales force.

The components of the lease expense for the years ended December 31, 2024, 2023 and 2022 were as follows (in thousands):



	Year Ended December 31,
Lease Cost	2024		2023		2022
Operating lease cost	$	22,209	$	19,394	$	19,670
Short-term lease cost	7,441		6,290		5,088
Variable lease cost	789		81		5
Sublease income	(472)		(22)		—
Finance Lease Cost
Interest on lease liabilities	442		377		429
Amortization of leased asset	413		481		472
Net lease cost	$	30,822	$	26,601	$	25,664

Supplemental balance sheet information related to operating and finance leases was as follows (in thousands):



		December 31,
Leases	Classification	2024		2023
Assets
Operating lease assets	Operating lease assets	$	53,582	$	65,340
Finance lease assets	Property, plant and equipment	3,917		4,450
Total lease assets		$	57,499	$	69,790

Liabilities
Current
Operating lease liabilities	Accrued liabilities	$	14,331	$	19,019
Finance lease liabilities	Accrued liabilities	448		428
Non-current
Operating lease liabilities	Operating lease liabilities, less current portion	38,938		59,225
Finance lease liabilities	Other non-current liabilities	4,561		5,039
Total lease liabilities		$	58,278	$	83,711



	December 31,
Lease Term and Discount Rate	2024		2023
Weighted-average remaining lease term (years)
Operating leases	4.3		5.1
Finance leases	10.4		11.2
Weighted-average discount rate
Operating leases	6.6	%	5.4	%
Finance leases	7.6	%	7.5	%

Supplemental cash flow information related to operating and finance leases was as follows (in thousands):



	Year Ended December 31,
	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	33,632	$	20,646	$	20,544
Operating cash outflows from finance leases	830		835		806
Financing cash outflows from finance leases	442		377		429
Non-cash operating activities:
Operating lease assets obtained in exchange for new operating lease liabilities	$	25,819	$	9,953	$	4,312

De-recognition of operating lease asset on lease assignment / termination	19,877		4,169		—
De-recognition of operating lease liability on lease assignment / termination	21,297		4,457		—

Maturities of operating and finance lease liabilities were as follows (in thousands):


Year Ending December 31,	Operating Leases		Finance Leases
2025	$	16,574	$	837
2026	12,596		811
2027	10,314		758
2028	9,020		601
2029	6,036		601
Thereafter	8,344		3,717
Total lease payments	62,884		7,325
Less imputed interest	(9,615)		(2,316)
Present value of lease liabilities	$	53,269	$	5,009

On October 11, 2024, we entered into a new lease agreement for premises located at 3000 El Camino Real, Palo Alto, California, with occupancy expected by July 1, 2025. The lease will be recognized on the lease commencement date with the lease ending in 2035.

Leases

We have noncancelable leases for our buildings and growing facilities and we are obligated to make payments under noncancelable operating leases for automobiles used by our sales force.

The components of the lease expense for the years ended December 31, 2024, 2023 and 2022 were as follows (in thousands):



	Year Ended December 31,
Lease Cost	2024		2023		2022
Operating lease cost	$	22,209	$	19,394	$	19,670
Short-term lease cost	7,441		6,290		5,088
Variable lease cost	789		81		5
Sublease income	(472)		(22)		—
Finance Lease Cost
Interest on lease liabilities	442		377		429
Amortization of leased asset	413		481		472
Net lease cost	$	30,822	$	26,601	$	25,664

Supplemental balance sheet information related to operating and finance leases was as follows (in thousands):



		December 31,
Leases	Classification	2024		2023
Assets
Operating lease assets	Operating lease assets	$	53,582	$	65,340
Finance lease assets	Property, plant and equipment	3,917		4,450
Total lease assets		$	57,499	$	69,790

Liabilities
Current
Operating lease liabilities	Accrued liabilities	$	14,331	$	19,019
Finance lease liabilities	Accrued liabilities	448		428
Non-current
Operating lease liabilities	Operating lease liabilities, less current portion	38,938		59,225
Finance lease liabilities	Other non-current liabilities	4,561		5,039
Total lease liabilities		$	58,278	$	83,711



	December 31,
Lease Term and Discount Rate	2024		2023
Weighted-average remaining lease term (years)
Operating leases	4.3		5.1
Finance leases	10.4		11.2
Weighted-average discount rate
Operating leases	6.6	%	5.4	%
Finance leases	7.6	%	7.5	%

Supplemental cash flow information related to operating and finance leases was as follows (in thousands):



	Year Ended December 31,
	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	33,632	$	20,646	$	20,544
Operating cash outflows from finance leases	830		835		806
Financing cash outflows from finance leases	442		377		429
Non-cash operating activities:
Operating lease assets obtained in exchange for new operating lease liabilities	$	25,819	$	9,953	$	4,312

De-recognition of operating lease asset on lease assignment / termination	19,877		4,169		—
De-recognition of operating lease liability on lease assignment / termination	21,297		4,457		—

Maturities of operating and finance lease liabilities were as follows (in thousands):


Year Ending December 31,	Operating Leases		Finance Leases
2025	$	16,574	$	837
2026	12,596		811
2027	10,314		758
2028	9,020		601
2029	6,036		601
Thereafter	8,344		3,717
Total lease payments	62,884		7,325
Less imputed interest	(9,615)		(2,316)
Present value of lease liabilities	$	53,269	$	5,009

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net (loss) income	$ 560,120	$ 414,832	$ (224,060)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Revenues - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total revenues	$ 4,068,950	$ 3,834,204	$ 3,659,374
United States
Disaggregation of Revenue [Line Items]
Total revenues	3,660,109	3,489,977	3,370,379
Europe
Disaggregation of Revenue [Line Items]
Total revenues	312,706	269,243	239,638
All other
Disaggregation of Revenue [Line Items]
Total revenues	96,135	74,984	49,357
Product sales, net
Disaggregation of Revenue [Line Items]
Total revenues	3,821,164	3,736,943	3,641,429
Total Neuroscience
Disaggregation of Revenue [Line Items]
Total revenues	2,698,318	2,707,843	2,760,945
Xywav
Disaggregation of Revenue [Line Items]
Total revenues	1,473,202	1,272,977	958,425
Xyrem
Disaggregation of Revenue [Line Items]
Total revenues	233,816	569,730	1,020,453
Epidiolex/Epidyolex
Disaggregation of Revenue [Line Items]
Total revenues	972,423	845,468	736,398
Sativex
Disaggregation of Revenue [Line Items]
Total revenues	18,877	19,668	16,825
Sunosi
Disaggregation of Revenue [Line Items]
Total revenues	0	0	28,844
Total Oncology
Disaggregation of Revenue [Line Items]
Total revenues	1,111,375	1,015,254	873,841
Rylaze/Enrylaze
Disaggregation of Revenue [Line Items]
Total revenues	410,846	394,226	281,659
Zepzelca
Disaggregation of Revenue [Line Items]
Total revenues	320,318	289,533	269,912
Defitelio/defibrotide
Disaggregation of Revenue [Line Items]
Total revenues	216,565	184,000	194,290
Vyxeos
Disaggregation of Revenue [Line Items]
Total revenues	162,595	147,495	127,980
Ziihera
Disaggregation of Revenue [Line Items]
Total revenues	1,051	0	0
Other
Disaggregation of Revenue [Line Items]
Total revenues	11,471	13,846	6,643
High-sodium oxybate AG royalty revenue
Disaggregation of Revenue [Line Items]
Total revenues	217,575	75,918	0
Other royalty and contract revenues
Disaggregation of Revenue [Line Items]
Total revenues	$ 30,211	$ 21,343	$ 17,945

Fair Value Measurement - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Available-for-sale securities:
Available-for-sale securities	$ 2,992,864	$ 1,626,310
Money market funds
Available-for-sale securities:
Available-for-sale securities	1,253,970	768,586
Time deposits
Available-for-sale securities:
Available-for-sale securities	790,000	420,000
Recurring
Available-for-sale securities:
Totals	2,047,211	1,210,405
Liabilities:
Totals	10,198	4,091
Recurring \| Money market funds
Available-for-sale securities:
Available-for-sale securities	1,253,970	768,586
Recurring \| Time deposits
Available-for-sale securities:
Available-for-sale securities	790,000	420,000
Recurring \| Foreign exchange forward contracts
Available-for-sale securities:
Derivative assets	2,250	18,035
Liabilities:
Derivative Liability	10,198	681
Recurring \| Interest rate contracts
Available-for-sale securities:
Derivative assets	991	3,784
Liabilities:
Derivative Liability	0	3,410
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Recurring
Available-for-sale securities:
Totals	1,253,970	768,586
Liabilities:
Totals	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Recurring \| Money market funds
Available-for-sale securities:
Available-for-sale securities	1,253,970	768,586
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Recurring \| Time deposits
Available-for-sale securities:
Available-for-sale securities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Recurring \| Foreign exchange forward contracts
Available-for-sale securities:
Derivative assets	0	0
Liabilities:
Derivative Liability	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Recurring \| Interest rate contracts
Available-for-sale securities:
Derivative assets	0	0
Liabilities:
Derivative Liability	0	0
Significant Other Observable Inputs (Level 2) \| Recurring
Available-for-sale securities:
Totals	793,241	441,819
Liabilities:
Totals	10,198	4,091
Significant Other Observable Inputs (Level 2) \| Recurring \| Money market funds
Available-for-sale securities:
Available-for-sale securities	0	0
Significant Other Observable Inputs (Level 2) \| Recurring \| Time deposits
Available-for-sale securities:
Available-for-sale securities	790,000	420,000
Significant Other Observable Inputs (Level 2) \| Recurring \| Foreign exchange forward contracts
Available-for-sale securities:
Derivative assets	2,250	18,035
Liabilities:
Derivative Liability	10,198	681
Significant Other Observable Inputs (Level 2) \| Recurring \| Interest rate contracts
Available-for-sale securities:
Derivative assets	991	3,784
Liabilities:
Derivative Liability	$ 0	$ 3,410

Segment and Other Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Total Long-lived Assets by Location

The following table presents total long-lived assets by location (in thousands):


	December 31,
	2024		2023
Ireland	$	85,703	$	68,201
United Kingdom	77,741		80,293
United States	33,724		59,440
Italy	21,931		20,942
Other	7,896		6,110
Total long-lived assets (1)	$	226,995	$	234,986

_________________________

(1)Long-lived assets consist of property, plant and equipment and operating lease assets.

Income Taxes - Schedule of Components of Income Before Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Taxes - Components of Income Before Income Tax Provision (Benefit) [Line Items]
Ireland	$ 497,860	$ 449,214	$ (50,311)
Other	354,253	497,867	416,672
Income (loss) before income tax benefit and equity in loss of investees	470,351	297,929	(372,784)
United Kingdom
Income Taxes - Components of Income Before Income Tax Provision (Benefit) [Line Items]
United kingdom and united states	(411,356)	(643,096)	(963,598)
United States
Income Taxes - Components of Income Before Income Tax Provision (Benefit) [Line Items]
United kingdom and united states	$ 29,594	$ (6,056)	$ 224,453

- Definition

Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments.

+ References + Details

Share-Based Compensation - Performance-based RSU's Narrative (Details) - Performance-Based Restricted Stock Units (PRSUs) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to grants under the PRSUs	$ 37.3
Unrecognized compensation cost, weighted-average period of recognition (in years)	1 year 1 month 6 days
Weighted-average grant-date fair value, RSUs and PRSUs granted (in dollars per share)	$ 131.04	$ 156.91	$ 178.78
Number of RSUs and PRSUs released (in shares)	124
Shares issued (in shares)	80
Shares withheld for tax purposes (in shares)	44
Total fair value of shares vested	$ 14.8
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Achievement target, percentage of awards granted	0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Achievement target, percentage of awards granted	200.00%

Income Taxes - Schedule of Net Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Deduction on subsidiary equity carryforwards	$ 393,960	$ 212,015
Operating loss carryforwards	307,413	296,490
Capitalized research and development	295,779	201,186
Intangible assets	243,391	238,062
Tax credit carryforwards	127,483	142,854
Accrued liabilities	115,290	128,948
Share-based compensation	47,486	48,403
Indirect effects of unrecognized tax benefits	35,000	40,811
Other	15,714	19,340
Total deferred tax assets	1,581,516	1,328,109
Valuation allowance	(509,190)	(312,340)
Deferred tax assets, net of valuation allowance	1,072,326	1,015,769
Deferred tax liabilities:
Intangible assets	(1,130,485)	(1,290,425)
Inventories	(47,802)	(81,995)
Other	(10,530)	(13,221)
Total deferred tax liabilities	(1,188,817)	(1,385,641)
Net deferred tax liabilities	$ (116,491)	$ (369,872)

Income Taxes

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

The components of income (loss) before income tax benefit and equity in loss of investees were as follows (in thousands):


	Year Ended December 31,
	2024		2023		2022
Ireland	$	497,860	$	449,214	$	(50,311)
United Kingdom	(411,356)		(643,096)		(963,598)
United States	29,594		(6,056)		224,453
Other	354,253		497,867		416,672
Total	$	470,351	$	297,929	$	(372,784)

The following table sets forth the details of income tax benefit (in thousands):


	Year Ended December 31,
	2024		2023		2022
Current
Ireland	$	97,680	$	77,343	$	61,550
United Kingdom	207		7,726		1,454
United States	22,065		20,803		37,823
Other	(3,054)		34,433		32,779
Total current tax expense	116,898		140,305		133,606
Deferred, exclusive of other components below
Ireland	(20,022)		(10,919)		(62,011)
United Kingdom	(114,600)		(150,506)		(193,219)
United States	(63,162)		(89,246)		(9,086)
Other	(11,481)		(8,990)		(11,144)
Total deferred, exclusive of other components	(209,265)		(259,661)		(275,460)
Deferred, change in tax rates
United Kingdom	—		268		(16,990)
United States	955		(824)		201
Other	(17)		—		(2)
Total deferred, change in tax rates	938		(556)		(16,791)
Total deferred tax benefit	(208,327)		(260,217)		(292,251)
Total income tax benefit	$	(91,429)	$	(119,912)	$	(158,645)

Our income tax benefit was $91.4 million, $119.9 million and $158.6 million in 2024, 2023 and 2022, respectively, relating to tax arising on income or losses in Ireland, the U.K., the U.S. and certain other foreign jurisdictions, offset by deductions on subsidiary equity, patent box benefits, foreign derived intangible income benefits and originating tax credits. Our income tax benefit in 2024 decreased compared to 2023 primarily due to the change in income mix across jurisdictions, partially offset by patent box benefits. Our income tax benefit in 2023 decreased compared to 2022 primarily due to pretax losses from payments for acquired IPR&D made in 2022 and the 2022 impairment of our acquired IPR&D asset as a result of the decision to discontinue our nabiximols program, partially offset by the change in income mix across jurisdictions.


	Year Ended December 31,
	2024		2023		2022
Income tax expense (benefit) at the statutory income tax rate	$	58,794	$	37,241	$	(46,598)
Change in valuation allowance	201,996		75,081		95,051
Deduction on subsidiary equity	(180,460)		(153,655)		(158,488)
Change in estimates	(106,007)		(5,472)		(14,065)
Patent box incentive benefit	(65,413)		(13,862)		(6,203)
Research and other tax credits	(65,255)		(49,900)		(27,976)
Foreign derived intangible income benefit	(39,470)		(42,400)		(29,541)
Foreign income tax rate differential	38,346		(7,763)		5,863
Non-deductible financing costs	22,437		15,705		4,504
Tax deficiencies/(excess tax benefits) from share-based compensation	18,074		3,959		(1,690)
Non-deductible compensation	10,889		14,092		13,505
Change in unrecognized tax benefits	9,767		(12,612)		5,029
Change in tax rate	938		(605)		(16,790)
Non-deductible facility expense	22		16,618		8,093
Non-deductible royalty expense	—		—		6,274

Other	3,913		3,661		4,387
Reported income tax benefit	$	(91,429)	$	(119,912)	$	(158,645)

The 2024 patent box incentive benefit above includes a non-recurring benefit of $40.9 million related to a claim for benefits in Italy in respect of tax years 2020 to 2023. The 2024 change in estimates above includes a benefit of $103.3 million that is fully offset by a related change in valuation allowance, resulting in a net nil impact to our income tax benefit.

Significant components of our net deferred tax assets (liabilities) were as follows (in thousands):


	December 31,
	2024		2023
Deferred tax assets:
Deduction on subsidiary equity carryforwards	$	393,960	$	212,015
Operating loss carryforwards	307,413		296,490
Capitalized research and development	295,779		201,186
Intangible assets	243,391		238,062
Tax credit carryforwards	127,483		142,854
Accrued liabilities	115,290		128,948
Share-based compensation	47,486		48,403
Indirect effects of unrecognized tax benefits	35,000		40,811
Other	15,714		19,340
Total deferred tax assets	1,581,516		1,328,109
Valuation allowance	(509,190)		(312,340)
Deferred tax assets, net of valuation allowance	1,072,326		1,015,769
Deferred tax liabilities:
Intangible assets	(1,130,485)		(1,290,425)
Inventories	(47,802)		(81,995)
Other	(10,530)		(13,221)
Total deferred tax liabilities	(1,188,817)		(1,385,641)
Net deferred tax liabilities	$	(116,491)	$	(369,872)

The net change in valuation allowance was an increase of $196.9 million, $77.6 million, and $80.5 million in 2024, 2023 and 2022, respectively.

The following table summarizes the presentation of deferred tax assets and liabilities (in thousands):


	December 31,
	2024		2023
Deferred tax assets	$	560,245	$	477,834
Deferred tax liabilities	(676,736)		(847,706)
Net deferred tax liabilities	$	(116,491)	$	(369,872)

As of December 31, 2024, we had NOL and tax credit carryforwards for U.S. federal income tax purposes of $11.0 million and $20.5 million, respectively, available to reduce future income subject to income taxes. The U.S. federal NOL carryforwards will expire, if not utilized, in the tax years 2025 to 2033 and the U.S. federal tax credits will expire, if not utilized, in the tax years 2027 to 2044. In addition, we had $4.9 million of NOL carryforwards and $5.8 million of tax credit carryforwards as of December 31, 2024 available to reduce future taxable income for U.S. state income tax purposes. The U.S. state NOL carryforwards will expire, if not utilized, in the tax years 2025 to 2034. As of December 31, 2024, there were NOL and other carryforwards for income tax purposes of $1,125.6 million, $790.3 million and $374.8 million available to reduce future income subject to income taxes in Malta, the United Kingdom and Ireland respectively. The NOLs and other carryforwards generated in Malta, the United Kingdom and Ireland have no expiration date. We also had foreign tax credit carryforwards in Ireland, as of December 31, 2024, of $100.9 million, which may only be utilized against certain sources of income. The foreign tax credit carryforwards have no expiration date.

Utilization of certain of our NOL and tax credit carryforwards in the U.S. is subject to an annual limitation due to the ownership change limitations provided by Sections 382 and 383 of the Internal Revenue Code and similar state provisions. Such an annual limitation may result in the expiration of certain NOLs and tax credits before future utilization. In addition, as a result of the Azur Merger, until 2022 we were subject to certain limitations under the Internal Revenue Code in relation to the utilization of U.S. NOLs to offset U.S. taxable income resulting from certain transactions.

Valuation allowances require an assessment of both positive and negative evidence when determining whether it is more likely than not that deferred tax assets are recoverable. Such assessment is required by tax-paying component. Our valuation allowance was $509.2 million and $312.3 million as of December 31, 2024 and 2023, respectively, for certain Irish, U.S. (federal and state) and foreign deferred tax assets which we maintain until sufficient positive evidence exists to support reversal. As part of the overall change in valuation allowance, we recognized a net income tax expense of $202.0 million, $76.2 million and $95.1 million in 2024, 2023 and 2022, respectively, relating primarily to the creation of a valuation allowance against certain deferred tax assets primarily associated with carryforwards in foreign subsidiaries and foreign tax credit carryforwards in Ireland. We periodically evaluate the likelihood of the realization of deferred tax assets and will adjust such amounts in light of changing facts and circumstances including, but not limited to, future projections of taxable income, tax legislation, rulings by relevant taxing authorities, the progress of tax examinations and the regulatory approval of products currently under development. Realization of the deferred tax assets is dependent on future taxable income. The Company believes that it is more likely than not to generate sufficient taxable income to realize the deferred tax assets carried as of December 31, 2024 for which no valuation allowance has been recognized.

No provision has been made for income tax on undistributed earnings of the Company’s foreign subsidiaries where such earnings are considered indefinitely reinvested in the foreign operations. Temporary differences related to such earnings totaled $1.6 billion as of December 31, 2024. In the event of the distribution of those earnings in the form of dividends, a sale of the subsidiaries, or certain other transactions, we may be liable for income taxes, subject to an adjustment, if any, for foreign tax credits. The Company estimates that it would incur additional income taxes of up to $81.0 million on repatriation of these unremitted earnings to Ireland.

We only recognize the financial statement effects of a tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. As a result, we have recorded an unrecognized tax benefit for certain tax positions which we judge may not be sustained upon examination.

A reconciliation of our unrecognized tax benefits follows (in thousands):


	December 31,
	2024		2023		2022
Balance at the beginning of the year	$	122,694	$	143,976	$	137,867
Increases related to current year tax positions	32,559		15,004		25,128
Increases related to prior year tax positions	—		224		2,794
Decreases related to prior year tax positions	(150)		(12,702)		(164)

Decreases related to settlements with taxing authorities	(2,605)		—		(223)
Lapse of the applicable statute of limitations	(26,520)		(23,808)		(21,426)
Balance at the end of the year	$	125,978	$	122,694	$	143,976

The unrecognized tax benefits were included in income taxes payable, other non-current liabilities and deferred tax assets, net, in our consolidated balance sheets. Interest related to income taxes is recorded in income tax benefit in our consolidated statements of income (loss). As of December 31, 2024 and 2023, our accrued interest related to income taxes was $8.6 million and $8.4 million, respectively. Interest related to income taxes recognized in the consolidated statements of income (loss) were not significant. Included in the balance of unrecognized tax benefits were potential benefits of $86.8 million and $77.1 million at December 31, 2024 and 2023, respectively, that, if recognized, would affect the effective tax rate on income. The Company believes that it is reasonably possible that $26.7 million of its currently remaining unrecognized tax benefits may be recognized by the end of 2025 as a result of a lapse of the statute of limitations.

We file income tax returns in multiple tax jurisdictions, the most significant of which are Ireland, the U.K. and the U.S. (both at the federal level and in various state jurisdictions). For Ireland we are no longer subject to income tax examinations by taxing authorities for the years prior to 2020. For the U.K. we are no longer subject to income tax examinations by taxing authorities for the years prior to 2016. The U.S. jurisdictions generally have statute of limitations three to four years from the later of the return due date or the date when the return was filed. However, in the U.S. (at the federal level and in most states), carryforwards that were generated in 2020 and earlier may still be adjusted upon examination by the taxing authorities. Certain of our Luxembourg subsidiaries are currently under examination by the Luxembourg taxing authorities for the years ended December 31, 2017, 2018 and 2019. In October 2022 and January 2023, we received tax assessment notices from the Luxembourg taxing authorities for all open tax years relating to certain transfer pricing and other adjustments. The notices propose additional Luxembourg income tax of approximately $23.3 million, translated at the foreign exchange rate as at December 31, 2024. We disagree with the proposed assessments and are contesting them vigorously.

The Government of Ireland, the jurisdiction in which Jazz Pharmaceuticals Plc is incorporated, transposed the Global Minimum Tax Pillar Two rules into domestic legislation as part of the Finance (No. 2) Act 2023 (the "Finance Act"). The Finance Act closely follows the EU Minimum Tax Directive and certain OECD Guidance released to date. The Company is within the scope of these rules, which took effect from January 1, 2024. Under the new legislation, we are liable to pay a top-up tax for the difference between the Pillar Two effective tax rate per jurisdiction and the 15% minimum rate. The rules on how to calculate the Pillar Two effective tax rate are detailed and highly complex and specific adjustments envisaged in the Pillar Two legislation can give rise to different effective tax rates compared to those calculated for accounting purposes. We account for Pillar Two top-up taxes as a current tax when they are incurred. We do not believe we were subject to the top-up tax in 2024. The proportion of our profit before tax which is subject to the top-up tax and our exposure to Pillar Two top-up taxes in future years will depend on factors such as future revenues, costs and foreign currency exchange rates. We will continue to monitor changes in law and guidance in relation to Pillar Two.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
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+ Details

Debt - Schedule of Carrying Amount of Indebtedness (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long term debt outstanding	$ 6,191,500
Total debt	6,108,640	$ 5,712,942
Less current portion	31,000	604,954
Total long-term debt	6,077,640	5,107,988
Convertible Debt \| 2024 Notes
Debt Instrument [Line Items]
Long term debt outstanding	0	575,000
Unamortized - debt issuance costs	0	(1,046)
Total debt	0	573,954
Convertible Debt \| 2026 Notes
Debt Instrument [Line Items]
Long term debt outstanding	1,000,000	1,000,000
Unamortized - debt issuance costs	(3,747)	(6,400)
Total debt	996,253	993,600
Convertible Debt \| 2030 Notes
Debt Instrument [Line Items]
Long term debt outstanding	1,000,000	0
Unamortized - debt issuance costs	(19,135)	0
Total debt	980,865	0
Convertible Debt \| Secured Notes
Debt Instrument [Line Items]
Total debt	1,483,841	1,480,214
Term Loan
Debt Instrument [Line Items]
Total debt	$ 2,647,681	$ 2,665,174

Segment and Other Information - Narrative (Details)	12 Months Ended
Segment and Other Information - Narrative (Details)	Dec. 31, 2024 segment
Segment Reporting [Abstract]
Number of operating business segments	1

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Parenthetical)	12 Months Ended
	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Accounting standards update [Extensible Enumeration]	Accounting Standards Update 2020-06 [Member]

- Definition

Indicates amendment to accounting standards.

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Reference 72: http://www.xbrl.org/2003/role/disclosureRef
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Reference 73: http://www.xbrl.org/2003/role/disclosureRef
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Reference 74: http://www.xbrl.org/2003/role/disclosureRef
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Reference 75: http://www.xbrl.org/2003/role/disclosureRef
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Reference 76: http://www.xbrl.org/2003/role/disclosureRef
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Reference 77: http://www.xbrl.org/2003/role/disclosureRef
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Reference 79: http://www.xbrl.org/2003/role/disclosureRef
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Reference 80: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
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-Subparagraph (c)(2)
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-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

+ Details

Leases -Schedule of Weighted Average Terms and Discount Rates (Details)	Dec. 31, 2024	Dec. 31, 2023
Weighted-average remaining lease term (years)
Operating leases	4 years 3 months 18 days	5 years 1 month 6 days
Finance leases	10 years 4 months 24 days	11 years 2 months 12 days
Weighted-average discount rate
Operating leases	6.60%	5.40%
Finance leases	7.60%	7.50%

CONSOLIDATED BALANCE SHEETS (Parenthetical) shares in Thousands, $ in Thousands	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2024 € / shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2023 € / shares
Current assets:
Accounts receivable, allowances \| $	$ 32,691		$ 21,136
Shareholders’ equity:
Ordinary shares, nominal value (in dollars per share) \| $ / shares	$ 0.0001		$ 0.0001
Ordinary shares, authorized (in shares)	300,000		300,000
Ordinary shares, issued (in shares)	60,631		62,255
Ordinary shares, outstanding (in shares)	60,631		62,255
Non-voting euro deferred shares, par value (in euros per share) \| € / shares		€ 0.01		€ 0.01
Non-voting euro deferred shares, authorized (in shares)	4,000		4,000
Non-voting euro deferred shares, issued (in shares)	4,000		4,000
Non-voting euro deferred shares, outstanding (in shares)	4,000		4,000

Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis


	December 31, 2024				December 31, 2023
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total Estimated Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total Estimated Fair Value
Assets:
Available-for-sale securities:
Money market funds	$	1,253,970	$	—	$	1,253,970	$	768,586	$	—	$	768,586
Time deposits	—		790,000		790,000		—		420,000		420,000
Foreign exchange forward contracts	—		2,250		2,250		—		18,035		18,035
Interest rate contracts	—		991		991		—		3,784		3,784
Totals	$	1,253,970	$	793,241	$	2,047,211	$	768,586	$	441,819	$	1,210,405
Liabilities:

Foreign exchange forward contracts	$	—	$	10,198	$	10,198	$	—	$	681	$	681
Interest rate contracts	—		—		—		—		3,410		3,410
Totals	$	—	$	10,198	$	10,198	$	—	$	4,091	$	4,091

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of Property, Plant and Equipment Estimated Useful Life

Estimated useful lives are as follows:


Buildings			40 years
Manufacturing equipment and machinery			4-20 years
Computer software and equipment			3-7 years
Furniture and fixtures			5 years

Property, plant and equipment consisted of the following (in thousands):


	December 31,
	2024		2023
Manufacturing equipment and machinery	$	87,451	$	82,897
Land and buildings	71,902		70,912
Leasehold improvements	70,201		67,722

Computer software	42,635		38,134
Construction-in-progress	34,493		18,661
Computer equipment	20,137		15,398
Furniture and fixtures	8,551		9,273


Subtotal	335,370		302,997
Less accumulated depreciation and amortization	(161,957)		(133,351)
Property, plant and equipment, net	$	173,413	$	169,646

Revenues - Narrative (Details)	12 Months Ended
Revenues - Narrative (Details)	Dec. 31, 2024
Minimum
Summary Of Deferred Revenue [Line Items]
Payment terms, range	30 days
Maximum
Summary Of Deferred Revenue [Line Items]
Payment terms, range	65 days

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Schedule of Authorized but Unissued Ordinary Shares

We had reserved the following shares of authorized but unissued ordinary shares (in thousands):


	December 31,
	2024	2023
2011 Equity Incentive Plan	22,056	22,855
2007 Employee Stock Purchase Plan	3,701	3,913
GW Incentive Plans	1,408	1,570
Amended and Restated 2007 Non-Employee Directors Stock Award Plan	677	714


Total	27,842	29,052

Commitment and Contingencies (Details) $ in Millions										1 Months Ended
Commitment and Contingencies (Details) $ in Millions	Aug. 27, 2024	Jul. 03, 2024 litigationCase	Dec. 15, 2023 litigationCase	Feb. 24, 2023	Feb. 15, 2023 litigationCase	Jan. 03, 2023	Jul. 21, 2022	Jun. 22, 2022 litigationCase	Jun. 23, 2020 litigationCase	Mar. 31, 2023	Feb. 28, 2023 patent	Jul. 31, 2021 patent	Jun. 30, 2021 patent	Dec. 31, 2024 USD ($)	Jun. 07, 2022 patent	May 13, 2021 patent
Long-Term Purchase Commitment [Line Items]
Noncancelable purchase commitments due within one year \| $														$ 46.3
Teamsters And GEHA Lawsuits
Long-Term Purchase Commitment [Line Items]
Number of lawsuits filed \| litigationCase									2
Avadel Pharmaceuticals plc Lawsuit
Long-Term Purchase Commitment [Line Items]
Infringed patents suit																5
Infringed patents suit, other party counterclaim, number of patents requested to be delisted																1
Number of days provided to delist patent				14 days
Notice from Lupin included a paragraph IV certification															1
appropriate ongoing rate (as a percentage)	3.50%
Number of days requested for FDA to take action							14 days
Lupin Lawsuit
Long-Term Purchase Commitment [Line Items]
Number of lawsuits filed \| litigationCase					2			2
Infringed patents suit												10
Notice from Lupin included a paragraph IV certification													10
FDA stay of approval period												30 months
Lupin Lawsuit \| Xywav
Long-Term Purchase Commitment [Line Items]
FDA recognition of orphan drug exclusivity, period													7 years
Teva Lawsuit
Long-Term Purchase Commitment [Line Items]
Infringed patents suit										13
FDA stay of approval period										30 months
Infringed patents suit, number of patents											13
Epidiolex Patent Litigation
Long-Term Purchase Commitment [Line Items]
Number of lawsuits filed \| litigationCase		6	7
FDA stay of approval period						30 months

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 618,043
2026	618,043
2027	618,043
2028	616,711
2029	614,977
Thereafter	1,669,878
Total	$ 4,755,695	$ 5,418,039

Shareholders' Equity - Schedule of Authorized but Unissued Ordinary Shares (Details) - shares shares in Thousands	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized but unissued ordinary shares reserved (in shares)	27,842	29,052
2011 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized but unissued ordinary shares reserved (in shares)	22,056	22,855
2007 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized but unissued ordinary shares reserved (in shares)	3,701	3,913
GW Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized but unissued ordinary shares reserved (in shares)	1,408	1,570
Amended and Restated 2007 Non-Employee Directors Stock Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized but unissued ordinary shares reserved (in shares)	677	714

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 35
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-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Basis of Presentation

Use of Estimates

Adoption of New Accounting Standards and Recent Accounting Pronouncements

Adoption of New Accounting Standards

Recent Accounting Pronouncements

Significant Risks and Uncertainties

Concentrations of Risk

We manage our foreign currency transaction risk and interest rate risk within specified guidelines through the use of derivatives. All of our derivative instruments are utilized for risk management purposes, and we do not use derivatives for speculative trading purposes. The counterparties to these contracts are large multinational commercial banks, and we believe the risk of nonperformance is not significant.We are also subject to credit risk from our accounts receivable related to our product sales. We monitor our exposure within accounts receivable and record a reserve against uncollectible accounts receivable as necessary. We extend credit to pharmaceutical wholesale distributors and specialty pharmaceutical distribution companies, primarily in the U.S., and to other international distributors and hospitals. Customer creditworthiness is monitored and collateral is not required. We monitor economic conditions in certain European countries which may result in variability of the timing of cash receipts and an increase in the average length of time that it takes to collect accounts receivable outstanding.

Business Acquisitions

Cash Equivalents and Investments

We consider all highly liquid investments, readily convertible to cash, that mature within three months or less from date of purchase to be cash equivalents.

Derivative Instruments and Hedging Activities

Derivatives that are not designated and do not qualify as hedges are adjusted to fair value through current earnings.

Inventories

Property, Plant and Equipment


Buildings			40 years
Manufacturing equipment and machinery			4-20 years
Computer software and equipment			3-7 years
Furniture and fixtures			5 years

Leasehold improvements are amortized over the shorter of the noncancelable term of our leases or their economic useful lives. Maintenance and repairs are expensed as incurred.

Leases

Goodwill, Acquired In-Process Research and Development, and Intangible Assets

Goodwill

Acquired In-Process Research and Development

Intangible Assets

Revenue Recognition and Cost of Product Sales

Revenue Recognition

Product Sales, Net

Reserves for Variable Consideration

Royalties and Contract Revenues

Cost of Product Sales

Research and Development

Advertising Expenses

We expense the costs of advertising, including promotional expenses, as incurred.

Income Taxes

Foreign Currency

Deferred Financing Costs

Contingencies

Share-Based Compensation and Performance-Based Restricted Stock Unit Awards

Share-Based Compensation

Performance-Based Restricted Stock Unit Awards

Variable Interest Entity

Revenues (Tables)

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table presents a summary of total revenues (in thousands):


	Year Ended December 31,
	2024		2023		2022
Xywav	$	1,473,202	$	1,272,977	$	958,425
Xyrem	233,816		569,730		1,020,453

Epidiolex/Epidyolex	972,423		845,468		736,398
Sativex	18,877		19,668		16,825
Sunosi1	—		—		28,844
Total Neuroscience	2,698,318		2,707,843		2,760,945
Rylaze/Enrylaze	410,846		394,226		281,659
Zepzelca	320,318		289,533		269,912
Defitelio/defibrotide	216,565		184,000		194,290
Vyxeos	162,595		147,495		127,980
Ziihera	1,051		—		—
Total Oncology	1,111,375		1,015,254		873,841
Other	11,471		13,846		6,643
Product sales, net	3,821,164		3,736,943		3,641,429
High-sodium oxybate AG royalty revenue	217,575		75,918		—
Other royalty and contract revenues	30,211		21,343		17,945
Total revenues	$	4,068,950	$	3,834,204	$	3,659,374

____________________________

(1) Divestiture of Sunosi U.S. was completed in May 2022.

The following table presents a summary of total revenues attributed to geographic sources (in thousands):


	Year Ended December 31,
	2024		2023		2022
United States	$	3,660,109	$	3,489,977	$	3,370,379
Europe	312,706		269,243		239,638
All other	96,135		74,984		49,357
Total revenues	$	4,068,950	$	3,834,204	$	3,659,374

Schedule of Revenues from Customers Representing More Than 10% of Total Revenues

The following table presents a summary of the percentage of total revenues from customers that represented more than 10% of our total revenues:


	Year Ended December 31,
	2024		2023		2022
ESSDS	42	%	48	%	56	%
McKesson	12	%	11	%	11	%