Jazz Pharmaceuticals [NASDAQ:JAZZ] reported Q3 2014 adjusted earnings of $2.33 per share, up 30.9% from a year-ago and revenues increased 32% to $306.6 million. Jazz Pharmaceuticals raised its full-year adjusted earnings for 2014 to a new range of $8.20 to $8.35 per share from the previous guidance between $8.00 to $8.25. The company increased its revenue guidance to $1,150–$1,170 million from the previous guidance of $1,125–$1,165 million.

Product Quarterly Revenue: XYREM (sodium oxybate) oral solution for the treatment of excessive daytime sleepiness (EDS) associated with narcolepsy: $204.3 million (+33%).

ERWINAZE (Asparaginase Erwinia chrysanthemi for the treatment of acute lymphocytic lymphoma): $52.1 million (+18%).

DEFITELIO (defibrotide for the treatment of Hepatic veno-occlusive disease (VOD), a disease when the blood vessels that carry blood through the liver become swollen and blocked causing the liver to not remove toxins, drugs and other waste products from the bloodstream): $18.9 million.

PRIALT® (ziconotide - an atypical analgesic agent for the amelioration of severe and chronic pain) intrathecal infusion: $6.3 million and psychiatry products (FazaClo® LD and HD, Versacloz and LuvoxCR®): $10.8 million.

Jazz Pharmaceuticals clinical development pipeline includes XYREM: pediatric narcolepsy with cataplexy (Phase II), JZP-110: EDS narcolepsy (Phase II), JZP-110: EDS-OSA (Phase II), OSA, or obstructive sleep apnea, is a disease causing breathing to pause while asleep because the airway has become narrowed or partly blocked, JZP-386: EDS narcolepsy (Phase I).

ERWINAZE (Acute Lymphoblastic Leukemia - intravenous administration) – pending FDA approval on December 28, 2014, DEFITELIO for severe VOD (Phase III), DEFITELIO for Prevention of VOD (Phase III), Leukotec - steroid refractory (Phase III), ERWINAZE (Acute Lymphoblastic Leukemia in young adult population – Phase II) and JZP-416 – (Acute Lymphoblastic Leukemia Phase I)

JAZZ is out performing, relative to the Nasdaq Biotechnology Index [NASDAQ:IBB] and iShares Dow Jones US Healthcare [NYSE:IYH]. In the past 12 months, the stock has been moving in an ascending triangle pattern with the head resistance at ~$176. A breakout could send the stock to between ~$200 and ~$220 (top range of the channel). JAZZ has near-term trend line supports at ~$155 and ~$140.

Disclosure: Long position