Jazz Pharmaceuticals PLC (NASDAQ: JAZZ) stock rose over 8.5% in the last one week (Source: finviz.com) though the company posted better than expected results for the first quarter of FY 19. As of March 31, 2019, cash, cash equivalents and investments were $832.5 million and the outstanding principal balance of the company’s long-term debt was $1.8 billion. During the first quarter of 2019, the company made an upfront payment of $56.0 million to Codiak BioSciences, Inc. under a collaboration agreement and used $111.2 million to repurchase shares.

In the first quarter of 2019, the company repurchased approximately 858,000 ordinary shares under the company’s share repurchase program at an average cost of $129.66 per ordinary share. As of March 31, 2019, the remaining amount authorized for share repurchases was $267.9 million.

JAZZ in the first quarter of FY 19 has reported the adjusted earnings per share of $3.67, beating the analysts’ estimates for the adjusted earnings per share by $0.51. The company had reported the adjusted revenue growth of 35.9 percent to $508.2 million in the first quarter of FY 19, beating the analysts’ estimates for revenue by $41.65 million.

Meanwhile, during the first quarter 2019, the company announced that the U.S. Food and Drug Administration (FDA) approved Sunosi (solriamfetol) to improve wakefulness in adult patients with EDS associated with narcolepsy or OSA. Sunosi got approved with strengths of 75 mg and 150 mg for patients with narcolepsy and 37.5 mg, 75 mg, and 150 mg for patients with OSA. Further, the company during the quarter has announced positive top-line results from the global, double-blind, placebo-controlled, randomized-withdrawal, multi-center Phase 3 study evaluating the efficacy and safety of JZP-258 for the treatment of cataplexy and EDS in adult patients with narcolepsy. JAZZ has also received positive results during the quarter from DEFIFrance, which were presented at the European Society for Blood and Marrow Transplant (EBMT) meeting.

Moreover, the company has launched Xyrem to treat cataplexy and EDS in pediatric narcolepsy patients after the receipt of FDA approval in October 2018 after completing implementation of the Risk Evaluation and Mitigation Strategy to include pediatric patients and their caregivers. In April 2019, the company had also announced the finalization of the settlement agreement with the U.S. Department of Justice (DOJ) related to the company’s support of charitable organizations that provide financial assistance to Medicare patients. In 2018, the company had announced an agreement in principle and recorded a total expense of $58.2 million related to this matter, that included related interest. Under the settlement agreement, in April 2019, the company has paid $57.0 million along with interest and entered into a five-year corporate integrity agreement with the Office of Inspector General of the Department of Health and Human Services.