Why Jazz Pharmaceuticals Sang Off-Key in Q1

Jazz Pharmaceuticals (NASDAQ:JAZZ) ended 2019 on a positive note, with shares up 20%. This year has been disastrous, though. Jazz stock is down more than 30%, wiping out all of the 2019 gains and then some.

The drugmaker announced its first-quarter results after the market closed on Tuesday. Shares sank 6% in after-hours trading, providing a clue as to what investors thought about the company's update. Here's why Jazz sang off-key in Q1.