Hey there. Good afternoon, everyone. I'm Jess Fye. I'm a senior biotech analyst at JP Morgan, and we're continuing the 42nd annual Healthcare Conference today with Jazz. I'm joined by the company's Chairman and CEO, Bruce Cozadd, who's going to give a presentation. And then we're going to move into Q&A with a couple of other members of the management team on stage. If you are in the room and you want to ask a question, you can raise your hand and someone will bring you a mic, or you can always use the portal to send me questions on the iPad up here. So with that, let me turn it over to Bruce.
Thank you, Jess, and thank you all for being here. The 42nd annual JP Morgan Healthcare Conference, I've only been at the last 33, so I missed a couple. The last 20 representing Jazz Pharmaceuticals, and I have to say, I'm delighted to be here to give you an update on the accomplishments of the company in 2023, but more important, why I'm excited about 2024 and beyond. I will say, thanks to the passion, the innovation, the collaboration, the pursuit of excellence of our talented and dedicated employees around the world, we had a great year in 2023, helped more patients, achieved record revenues, advanced our pipeline, and I believe positioned the company for success in 2024 and beyond. This is the slide you've all been waiting for. I promise I'll make some forward-looking statements, but realize those are based on assumptions.
For more information about those assumptions, how results could be different, risks and uncertainties, please see the disclosure on this slide or also our SEC filings, including the 8-K we filed this morning. I'll also refer to some non-GAAP financial measures. We always provide a full reconciliation to GAAP in the appendix to our slide deck posted on our website. And if I refer to guidance today, which I will, that guidance is as of the time we delivered it on November eighth, unless I explicitly update it, which I will do a couple times today. So with that, let's dive in. Jazz Pharmaceuticals' purpose is to innovate, to transform the lives of patients and their families.
Pictured here on this slide, as well as several other slides in the presentation, are some of our actual patients who really do inspire the work we do each and every day. On this slide, I've got a couple catalysts that make me really excited about 2024 and also very confident about our progress toward achieving Vision 2025, and we've highlighted it in three key categories: commercial, pipeline, and corporate development. On the commercial side, we do expect our key growth drivers, Xywav, Epidiolex, and Rylaze, on a combined basis, to grow double digits in 2024, as they did during 2023. Those products are, of course, on top of other products, legacy products, that also have sustainable revenues that are driving financial growth and cash flow. On the pipeline side, multiple near-term catalysts targeting significant market opportunities.
To just highlight one, we're very pleased that we can report we did initiate our rolling BLA submission for zanidatamab in biliary tract cancer, second-line biliary tract cancer in December. On the corporate development side, we have the financial strength to transact on assets that will continue our growth and our diversification, and we believe if you look at recent transactions, we're establishing a reputation as a partner of choice. Let's spend a minute on growth and execution. Jazz has a good track record of commercial execution and delivering top-line growth. In fact, 2023 represents the 19th consecutive year of revenue growth for the company, growth that on a compound annual basis, averaged 15% over the past five years. I can confirm today we will meet our previous guidance on total revenues of $3.75 billion-$3.875 billion.
We will also meet our specific neuroscience revenue guidance and our oncology revenue guidance. I'm also happy to say 2024 will be year number 20, as we do expect good revenue growth again this year. What's interesting, if you look at the growth, what's striking and perhaps underappreciated by the street, is the degree to which we've achieved that growth while rapidly diversifying our revenues. If you look back to just 2018, our $1.9 billion in revenue came almost 75% from one product in Xyrem. But through some smart R&D investing, corporate development transactions, we've transformed the business so that in 2023, you can see that virtually half of our revenue comes from our oncology portfolio and Epidiolex, with the rest coming from sleep. So over this period, we've built on what's already a successful sleep franchise and driven more growth through our diversification.
If we zoom in on Vision 2025, of course, we have already set out a target of achieving $5 billion in revenue in 2025. Note that about 40% of that, about $2 billion, is projected to come from our existing sleep franchise, led by Xywav. But the rest is projected to come from other products, including oncology, Epidiolex, and ongoing corporate development. So this diversification has allowed us to build growth on top of our durable revenues from sleep. I mentioned corporate development, and let me point out, I think we've got a good track record of corporate development, having completed six revenue-diversifying deals over the past decade. Specifically, the Azur, EUSA, Gentium, Celator, Zepzelca, and GW transactions, each of which built our capabilities and together, I think, have positioned us well as a partner of choice.
You'll notice that some of these deals lead naturally to some of our future growth opportunities. That EUSA transaction way back in 2012 ultimately led us to Rylaze, a very successful product. The Zepzelca transaction in 2019, I believe, helped pave the way for bringing zanidatamab into the company in 2022. We remain focused on corporate development, targeting corporate development opportunities to drive top-line growth and diversification in our commercial portfolio, but also layering in additional R&D assets that will help to build our R&D portfolio. Two years ago at this conference, we rolled out Vision 2025, which remains our roadmap for creating sustainable growth and enhanced value. It was built on three strengths of the company: commercial, pipeline, and operational excellence. On the commercial side, we've been hard at work executing successful launches.
We've got leading franchises in narcolepsy and epilepsy and a growing oncology portfolio. On the pipeline side, we've been able to meaningfully invest in R&D, expand our capabilities and the breadth and depth of our pipeline while entering into strategic R&D collaborations. And on the corporate development side, I'm sorry, on the operational excellence side, disciplined capital allocation has put us in a strong position. And even in the year after we rolled this out, we improved our margins to the extent that it gave us more flexibility to invest in the things that we believe drive growth for the company. And while we remain very focused on Vision 2025, we're also focused on the company of the future and how we continue to innovate to benefit patients and reward our shareholders for entrusting us with the capital we need to innovate for patients.
I want to review now areas of the company's operations, starting with our pipeline and R&D. So if you look at our R&D capabilities, they've expanded dramatically over the past few years, and at the same time, we've been adding new programs, programs indicated with a dot on this slide, including a number of mid and late-stage programs. Given the increased breadth and depth of our pipeline, I think we're very well positioned to achieve our Vision 2025 target of bringing five new novel approvals before the end of the decade. And to that end, over the next 18 months, we have a number of key pipeline catalysts, all of which are in significant areas of significant commercial opportunity, starting with zanidatamab. I mentioned we did initiate our BLA submission for BTC.
We intend to complete that in the first half, and we believe zanidatamab has the potential to raise the standard of care for the treatment of HER2-expressing tumors. If you look at Zepzelca, Epidiolex, and suvecaltamide, these are all clinical trials based on data or proof of concept that gives us a strong rationale for pursuit of these agents in these indications. Let's start with zanidatamab. Since we brought zanidatamab into the company, we've rapidly progressed development across indications. And based on the totality of the data we have with zanidatamab, we are highly confident in this molecule. That data includes demonstrated monotherapy activity, demonstrated activity of the agent in combination, positive early survival data, and activity in patients previously treated with other HER2 agents. We've also seen a rapid progression of data readouts since this deal.
across, again, indications BTC, GEA, and breast cancer, with notable presentations at ASCO GI, ASCO, ESMO, and San Antonio Breast. Zanidatamab is a de-risked near-term opportunity with more than $2 billion in revenue potential, and our strategy for zanidatamab does start with BTC, an area of particular unmet patient need. We believe coming to market in BTC will enable a fast-to-market strategy in other indications where we can leverage sBLA filings. GEA is next on the list, a substantially larger patient population than we see in BTC. The near-term driver here is getting to PFS data at the end of this year on our phase III GEA trial. We have elected to increase the enrollment target for that trial from 714 to 918 to improve statistical power for overall survival.
But notably, this maintains the earliest possible time to approval based on that PFS analysis, which is still on the original 714 population. To do that analysis, we obviously need to wait for a certain number of events in the trial, and we will complete full enrollment before we do that analysis. But again, near-term, near-term readout in GEA. In breast cancer, we're excited about the opportunities in early stages of disease and late stages of disease. We're also very excited about the potential for a chemo-free regimen, which we know would be of great value to patients. And we think our inclusion in the I-SPY program and our recent MD Anderson collaboration demonstrate the excitement of breast cancer specialists for this agent. Of course, there are many opportunities beyond these in other HER2-expressing tumors. Zepzelca is a great example of our corporate development process.
Since bringing this product in, it's been rapidly accretive, has become the second-line small cell lung cancer treatment of choice, and has generated over $820 million in revenue. We expect our phase III top-line progression-free survival readout in extensive stage first-line small cell lung cancer in combination with Roche's Tecentriq late this year or early next year. We're confident about this trial, both because of the mechanism of action of Zepzelca, but also the trial design. We're adding to first-line standard of care plus or minus Zepzelca against no active comparator. The commercial opportunity here is significant. We'd be moving from a second-line patient population into a larger first-line population and with longer duration of therapy. Suvecaltamide represents a near-term data readout in essential tremor. We expect top-line data from our phase IIb essential tremor trial late in the first half.
And we're confident about this too. Based on our learnings from the T-CALM study, we got proof of concept and also informed our trial design and patient selection. And there's very high unmet need here, with no new approved essential tremor pharmacotherapy in over 50 years. We have a differentiated mechanism of action here as a highly selective and state-dependent modulator of T-type calcium channels. Beyond some of the later-stage programs I've highlighted, other earlier programs continue to advance, including several differentiated molecules with novel mechanisms.