Jazz Pharmaceuticals to acquire Azur Pharma #bio #pharmaceutical #companies


Posted On Dec 31 2017 by

#azur pharma

#

Jazz Pharmaceuticals to acquire Azur Pharma

James Fleishman, a former sales manager at Primary Global Research LLC, right, leaves federal court with attorney Ethan Balogh in New York, U.S. on Jan. 4, 2011. Fleishman and two ex-consultants for expert-networking firm Primary Global Research LLC were released on bail after a hearing before a New York federal judge as part of their prosecution in a nationwide probe of hedge fund insider trading. Photographer: Jeremy Bales/Bloomberg *** Local Caption *** James Fleishman; Ethan Balogh James Fleishman, a former sales manager at Primary Global Research LLC, right, leaves federal court with attorney Ethan Balogh in New York, U.S. on Jan. 4, 2011. Fleishman and two ex-consultants for expert-networking firm Primary Global Research LLC were released on bail after a hearing before a New York federal judge as part of their prosecution in a nationwide probe of hedge fund insider trading. Photographer: Jeremy Bales/Bloomberg *** Local Caption *** James Fleishman; Ethan Balogh Ran on: 09-21-2011 James Fleishman (right), a former sales manager at Primary Global, leaves court with attorney Ethan Balogh in January. less

James Fleishman, a former sales manager at Primary Global Research LLC, right, leaves federal court with attorney Ethan Balogh in New York, U.S. on Jan. 4, 2011. Fleishman and two ex-consultants for. more

Photo: Jeremy Bales, Bloomberg

Jazz Pharmaceuticals to acquire Azur Pharma

Back to Gallery

ACQUISITIONS

Jazz Pharmaceuticals to take over Azur

Jazz Pharmaceuticals, maker of the narcolepsy drug Xyrem, said it would take over Azur Pharma Ltd. in a deal to add a pain drug and diversify its product portfolio.

The all-stock transaction will give Jazz shareholders just less than 80 percent of the newly combined company, to be called Jazz Pharmaceuticals PLC, the companies said. The merged company will be based in Ireland, with operations in Palo Alto, where Jazz was based, and Philadelphia, where closely held Azur had its U.S. operations.

The deal, expected to close in the first quarter of 2012, would give Jazz Azur’s 10 drugs sold in the United States including Prialt for severe chronic pain, schizophrenia and women’s health disorders.

Jazz had 2010 revenue of $173.8 million with 82 percent coming from sales of Xyrem. Net sales this year of Azur’s products are expected to be $95 million to $100 million, the companies said in the statement. The combined company is expected to have sales of more than $475 million in the first 12 months following the closing of the deal.

Azur shareholders would own about 12 million shares, or 20 percent of the combined company, worth about $525 million based on Jazz’s closing price Monday.

ENERGY

GE counts on increasing top division’s sales

General Electric Co. is targeting annual sales of $100 billion from its energy unit, whose equipment provides more than a quarter of the world’s power, within the next decade.

That would more than double the projected $45 billion in 2011 revenue, John Krenicki. the vice chairman who runs GE Energy Infrastructure, said at an investor presentation Tuesday in Crotonville, N.Y. Last year’s total was $37.5 billion.

Once focused largely on natural-gas turbines in the United States, GE’s energy business has expanded in the past decade into other products and regions. GE announced $3 billion in orders Tuesday across its energy divisions and in more than half a dozen countries in addition to $1 billion in gas turbines in North America last week.

“We still have the world’s leading gas-turbine franchise,” Krenicki said. While the volume of large gas-turbine sales is lower than a decade ago, GE Energy is more stable and offers a much wider array of products, he said.

“If you look at the volume of gas turbines only in 2010, at 114, it’s roughly the same magnitude as in 1995,” Krenicki said. “And we’re making more than 10 times the operating profit.”

GE is targeting profit growth of 10 percent next year in its energy division, the company’s largest. Earnings this year should be about $7 billion, compared with last year’s $7.3 billion.

INSIDER TRADING

Primary Global executive convicted

A former expert consultant to hedge funds has become the latest man to be convicted in a wide-ranging prosecution of insider trading on Wall Street.

James Fleishman was convicted Tuesday of conspiracy and wire fraud by a jury in federal court in Manhattan.

Prosecutors in New York said Fleishman helped arrange for Primary Global Research clients, including hedge funds, to speak with consultants. The government said Fleishman used his executive position at the Mountain View firm to link clients with four consultants employed by publicly traded companies.

Authorities said Fleishman and others essentially purchased and sold insider information.

Sentencing is set for Dec. 21. The case was an offshoot of a prosecution of insider trading at hedge funds that already has resulted in several dozen convictions.

loading


Last Updated on: December 31st, 2017 at 11:41 am, by


Written by admin


Leave a Reply

Your email address will not be published. Required fields are marked *