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Jazz Pharmaceuticals Inc. (JAZZ) Set A New High Following Merger Announcement

Jazz Pharmaceuticals Inc. (JAZZ) and Azur Pharma Ltd. announced after the close Monday that they have agreed to combine in an all-stock transaction. The combined company will be named Jazz Pharmaceuticals plc.

Jazz Pharmaceuticals rose sharply in early trade Tuesday, but settled into a range for the majority of the day. Shares finished up by 3.06 at $46.80, with volume at nearly a 5-month high. The stock rose above a 3-week range and set a new high for the year.

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