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Jazz Pharmaceuticals, Inc. Announces Fourth Quarter and Full Year 2008 Financial Results
Date:3/26/2009

cash, cash equivalents and marketable securities as of December 31, 2008 were $25.9 million, excluding restricted cash of $1.9 million. As previously disclosed, Jazz Pharmaceuticals did not make the $4.5 million interest payment due on December 31, 2008 on its outstanding $119.5 million principal amount of senior secured notes, and has received a notice of default from the noteholders. As a result of the default, the noteholders have the right, at any time, to accelerate the notes and require payment in full of the principal and interest, plus a pre-payment penalty. While Jazz Pharmaceuticals believes that its current cash resources, together with anticipated revenues from product sales, will be sufficient to fund its operations, they are not sufficient to fund both its operations and any payment of interest or repayment of principal on the notes. Jazz Pharmaceuticals is currently seeking a number of financing and strategic alternatives and is in discussions with the holders of the senior secured notes with respect to the December 31, 2008 interest payment default and the status of the notes. The report of the Jazz Pharmaceutical's independent registered public accounting firm on the company's consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2008 includes an explanatory paragraph expressing substantial doubt about the company's ability to continue as a going concern.

About Jazz Pharmaceuticals, Inc.

Jazz Pharmaceuticals is a specialty pharmaceutical company focused on identifying, developing and commercializing innovative products to meet unmet medical needs in neurology and psychiatry. For further information see www.JazzPharmaceuticals.com.

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