Jazz Pharmaceuticals plc (JAZZ) entered into a definitive agreement to sell its women's health business, comprising six products, to Meda, an international specialty pharmaceutical company, for $95 million cash. The sale includes products like Elestrin, Gastrocrom, Natelle One, AVC Cream, Gesticare DHA and Urelle. Net sales for these products in 2011 totaled $30.4 million.
According to the transaction, Meda would offer positions to nearly 60 Jazz Pharmaceuticals employees who directly support these products. Jazz Pharmaceuticals expects to recognize a non-recurring gain on the sale in the fourth quarter of 2012. The company intends to provide more detail about the financial impact of the transaction after closing. The transaction may close in the fourth quarter of 2012.
by RTT Staff Writer
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