Navigation Links
Jazz Pharmaceuticals Pays Accrued Interest Under Senior Secured Notes
Date:7/7/2009

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 www.jazzpharmaceuticals.com.

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.
    +1-650-496-2800
    investorinfo@jazzpharmaceuticals.com

    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:
*Name:
*Comment:
*Email:
(Date:6/23/2017)... ... June 23, 2017 , ... ... Flood Insurance offerings. With the Federal Emergency Management Agency’s (FEMA) recent update of ... United States. In 2012, the Biggert-Waters Act was enacted to reflect the actual ...
(Date:6/23/2017)... ... ... Ulster University, Magee Campus in Northern Ireland is hosting The Schools for ... to graduate students exciting new and innovative hope research based on iFred’s “Schools for ... Improvement Service of the Western Health & Social Care Trust (WHSCT) in partnership with ...
(Date:6/23/2017)... ... June 23, 2017 , ... Jusino Insurance Services, ... communities in the greater Chicago metropolitan area, is embarking on a charity drive ... in Chicago. , Founded in 1897, Hephzibah Children’s Association is one of the ...
(Date:6/23/2017)... ... June 23, 2017 , ... Radabaugh & Associates, a ... and business owners in North Central West Virginia, is embarking on a cooperative ... abled residents in the region. , The Stepping Stones organization offers a series ...
(Date:6/22/2017)... FL (PRWEB) , ... June 22, 2017 , ... Branches, ... received more than $245,000 in grant funding to support its programs focused on providing ... Branches, Inc. was awarded a grant by the Foundation of $15,000 to support its ...
Breaking Medicine News(10 mins):
(Date:6/7/2017)... DUBLIN , June 7, 2017 Endo ... on June 7, 2017, the Hon. Joseph R. ... District of West Virginia , entered ... Systems, Inc. Pelvic Repair System Products Liability Litigation (the ... filed MDL cases to provide expert disclosures on specific ...
(Date:6/5/2017)... , June 5, 2017 The Cincinnati ... of Diplomat Pharmacy, Inc. (NYSE: DPLO), has been awarded a ... Enquirer . Results are based on an employee ... organizational health and workplace improvement. The survey measures several aspects ... ...
(Date:6/2/2017)... 2, 2017  NxStage Medical, Inc. (Nasdaq:  NXTM), a leading medical ... new findings demonstrating positive biochemical outcomes related to more ... The data will be presented at the ERA-EDTA Congress ... Spain . The research was ... Network in Europe (KIHDNEy) ...
Breaking Medicine Technology: