Navigation Links
Jazz Pharmaceuticals Pays Accrued Interest Under Senior Secured Notes

PALO ALTO, Calif., July 7, 2009 /PRNewswire-FirstCall/ -- Jazz Pharmaceuticals, Inc. (Nasdaq: JAZZ) today announced that it has paid to the holders of its senior secured notes the interest payments that were due, but not paid, on December 31, 2008, March 31, 2009 and June 30, 2009, for a total payment of approximately $14.6 million. The $119.5 million principal amount of the notes is due in June 2011. Jazz Pharmaceuticals also announced today that it has delivered to the holders of the notes financial statements for the quarter ended June 30, 2009, which indicate that Jazz Pharmaceuticals had achieved as of June 30, 2009 net product sales at the level required to suspend its prior obligation to maintain a minimum cash balance in an account that is pledged to the collateral agent for the notes. The requirement to maintain the account was triggered in May 2009, and Jazz Pharmaceuticals did not, at that time, establish the required account.

Jazz Pharmaceuticals believes that it has cured all material defaults under the agreement governing the notes, and that it will be able to comply with the agreement on an ongoing basis, including payment of future interest payments when due and repayment of the principal amount of the notes when due in June 2011.

About Jazz Pharmaceuticals, Inc.

Jazz Pharmaceuticals is a specialty pharmaceutical company that identifies, develops and commercializes innovative treatments for important, underserved markets in neurology and psychiatry. For further information, please see

Jazz Pharmaceuticals "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995

This press release contains forward-looking statements, including statements related to Jazz Pharmaceuticals' belief that it has cured all material defaults under the agreement governing the notes and that it will be able to comply with the agreement on an ongoing basis. These forward-looking statements are based on Jazz Pharmaceuticals' current expectations and belief and inherently involve significant risks and uncertainties. Jazz Pharmaceuticals' actual results could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks that the holders of the notes may not agree that all material defaults under the agreement governing the notes have been cured, risks that the holders of the notes may attempt to accelerate the notes and declare all of the notes to be immediately due and payable, in which event Jazz Pharmaceuticals could be required to seek protection under the provisions of the U.S. Bankruptcy Code, and risks related to Jazz Pharmaceuticals' future financial performance and financial position. These and other risk factors are discussed under "Risk Factors" in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2009 filed by Jazz Pharmaceuticals with the Securities and Exchange Commission on May 7, 2009 and in Item 8.01 of a Current Report on Form 8-K to be filed by Jazz Pharmaceuticals with the Securities and Exchange Commission on July 7, 2009. Jazz Pharmaceuticals undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

    Contact at Jazz Pharmaceuticals:
    Willie Quinn, Executive Director, Corporate Development of Jazz
    Pharmaceuticals, Inc.

    BCC Partners on behalf of Jazz Pharmaceuticals, Inc.
    Karen L. Bergman, 650-575-1509
    Michelle Corral, 415-794-8662

SOURCE Jazz Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Jazz Pharmaceuticals Completes $7 Million Private Placement
2. Biostar Pharmaceuticals, Inc. Commences the Full Implementation of New Rural Cooperative Supply Network Plan
3. ADVENTRX Pharmaceuticals Announces Closing of Financing
4. Merrimack Pharmaceuticals Initiates Enrollment in a Phase 1/2 Study of MM-111, a Bispecific Antibody to ErbB2/3
5. Endo Pharmaceuticals to Announce Second Quarter 2009 Financial Results on July 30, 2009
6. Peregrine Pharmaceuticals Completes Planned Patient Enrollment in Bavituximab Phase I Cancer Trial
7. Amira Pharmaceuticals Announces Initial Positive Phase 1 Clinical Data for AM211, a Novel Product Candidate for the Treatment of Respiratory Diseases
8. Wyeth Pharmaceuticals and Catalyst Biosciences Announce Agreement to Develop and Commercialize Factor VIIa Products
9. Lotus Pharmaceuticals, Inc. Again Awarded GSP Certification
10. Access Pharmaceuticals Announces Commercial Launch of MuGard(TM) in Greece by SpePharm
11. Biostar Pharmaceuticals, Inc. Begins Construction of Raw Material Processing Facility of the Herbal Plantation Base
Post Your Comments:
(Date:6/26/2016)... ... June 26, 2016 , ... Pixel Film Studios Released ProSlice Levels, ... editors can give their videos a whole new perspective by using the title ... Pixel Film Studios. , ProSlice Levels contains over 30 Different presets to choose ...
(Date:6/25/2016)... D.C. (PRWEB) , ... June 25, 2016 , ... ... discuss health policy issues and applications at AcademyHealth’s Annual Research Meeting June 26-28, ... their work on several important health care topics including advance care planning, healthcare ...
(Date:6/25/2016)... TX (PRWEB) , ... June 25, 2016 , ... ... the United States, named Dr. Sesan Ogunleye, as the Medical Director of its new ... the facility Medical Director of our new Mesquite location,” said Dr. James M. Muzzarelli, ...
(Date:6/25/2016)... ... June 25, 2016 , ... Conventional wisdom preaches the benefits of moderation, whether ... latter, setting the bar too high can result in disappointment, perhaps even self-loathing. However, ... their goal. , Research from reveals that behind the tendency ...
(Date:6/24/2016)... ... ... Marcy was in a crisis. Her son James, eight, was out of control. Prone to ... , “When something upset him, he couldn’t control his emotions,” remembers Marcy. “If there ... my other children and say he was going to kill them. If we were ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... LEXINGTON, Mass. , June 24, 2016   ... specialty pharmaceutical company developing innovative inhaled drugs, announced today ... when Russell Investments reconstituted its comprehensive set ... 2016. "This is an important milestone for ... "It will increase shareholder awareness of our progress in ...
(Date:6/23/2016)... HOUSTON , June 23, 2016  MedSource ... platform as its e-clinical software solution of choice.  ... the best possible value to their clients by ... nowEDC.  The preferred relationship establishes nowEDC as the ... pricing for MedSource,s full-service clients.  "nowEDC has long ...
(Date:6/23/2016)... June 23, 2016 Research and ... Excipients Market by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), ... Topical, Coating, Parenteral) - Global Forecast to 2021" ... The global pharmaceutical excipients market is projected ... CAGR of 6.1% in the forecast period 2016 to ...
Breaking Medicine Technology: