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Jazz Pharmaceuticals and Azur Pharma Agree to Combine to Form Jazz Pharmaceuticals plc
Date:9/19/2011

PALO ALTO, Calif. and DUBLIN, Sept. 19, 2011 /PRNewswire/ -- Jazz Pharmaceuticals, Inc. (Nasdaq: JAZZ) and Azur Pharma Limited today announced that the companies have agreed to combine in an all-stock transaction that creates a specialty pharmaceutical company incorporated in Ireland with a diversified portfolio of products currently marketed in the United States (US).  The combined company would be named Jazz Pharmaceuticals plc.

Azur Pharma is a privately-held, profitable specialty pharmaceutical company headquartered in Dublin, Ireland with US operations in Philadelphia.  The company markets ten specialty pharmaceutical products in the US in the central nervous system (CNS) and women's health areas, with expected 2011 net sales of approximately $95 to $100 million.  

"This significant transaction represents a compelling strategic fit, given our companies' closely aligned missions of identifying and developing products that address unmet patient needs and can be efficiently marketed through a specialty commercial infrastructure," said Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals.  "Our combined organizations would have a diverse portfolio of products and an international platform, paving the way for long term growth that builds on our current strengths.  We look forward to working with our colleagues at Azur Pharma to join our two companies into one that is even stronger, creating value for our stockholders while serving more patients."

Seamus Mulligan, chairman and chief executive officer of Azur Pharma added, "This combination brings together two successful businesses and cultures in a larger company better situated to compete in the specialty pharmaceutical sector. The combined company would have greater operational and financial resources to enable its strategy to acquire and develop important special
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SOURCE Jazz Pharmaceuticals, Inc.
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