Jazz Pharmaceuticals Targets $5B Zanidatamab Opportunity as Oncology Revenue Tops $1B

Jazz’s oncology revenue surpassed $1 billion in 2025 , rising 32% year over year after three recent launches, including zanidatamab, Modeyso and Zepzelca’s FORTE regimen.

Jazz raised zanidatamab’s estimated peak-sales opportunity to $3 billion-$5 billion , driven by plans to increase HER2-directed treatment in gastroesophageal cancer and expand into additional cancers.

The company views zanidatamab plus chemotherapy and tislelizumab as the preferred first-line regimen for eligible patients, while maintaining commercial investment and financial flexibility for acquisitions across oncology, epilepsy and sleep disorders.

Jazz Pharmaceuticals NASDAQ: JAZZ executives outlined the company’s oncology growth strategy, early commercial progress for recently launched therapies and business-development priorities during the Morgan Stanley Global Healthcare Conference.

Chumi Khurana, senior vice president of U.S. Oncology Franchise, said Jazz’s oncology business grew revenue 32% year over year and crossed the $1 billion mark in 2025.

She said the company has completed three launches over the past year, including Zepzelca’s FORTE regimen, Modeyso and the recent first-line launch of zanidatamab in gastroesophageal adenocarcinoma, or GEA.

Khurana said HER2 testing is already relatively established in GEA, with testing rates of about 80%, reflecting the longstanding availability of trastuzumab.

Jazz sees its larger commercial opportunity in increasing the share of eligible HER2-positive patients who receive HER2-directed treatment.

Jazz has estimated that the U.S. incidence of HER2-positive GEA is approximately 8,000 patients.

After considering factors including unresectable disease, first-line eligibility and testing rates, Khurana said the company’s labeled population is about 3,000 to 4,000 patients.

The company recently increased its peak-sales estimate for zanidatamab to a range of $3 billion to $5 billion.

Jack Spinks, executive director of investor relations, said the outlook reflects confidence from data in GEA as well as development opportunities in biliary tract cancer, colorectal cancer, non-small cell lung cancer, and early-stage and metastatic breast cancer.

Spinks said reaching the upper end of the range would depend on broad development success and the therapy’s ability to replace trastuzumab across HER2-directed treatment settings.

He cautioned that the range incorporates the risks inherent in drug development.

Jazz said its commercial infrastructure for the GEA launch is largely in place.

Khurana said the sales force promoting the new first-line GEA use also promotes Zepzelca, giving Jazz coverage in academic and community settings.

The company expanded its medical science liaison team and is investing in community education around changes in treatment practice.

According to Khurana, Jazz has an established J-code, available supply, an operating JazzCares patient-support program and no significant payer barriers.

She said the company was surprised zanidatamab had not yet been added to National Comprehensive Cancer Network guidelines but expects inclusion soon, while not viewing guidelines as a barrier to near-term adoption.