Jazz Pharmaceuticals to sell women's health business to Meda
Jazz Pharmaceuticals, a specialty pharmaceutical company based in Dublin, has inked an agreement to sell its women's health business to Meda, an international specialty pharmaceutical company based in Sweden, for $95 million in cash.
The business includes six products: Elestrin (estradiol gel), Gastrocrom(cromolyn sodium, USP), Natelle One (prenatal vitamin), AVC Cream (sulfanilamide), Gesticare DHA (prenatal multi-vitamin) and Urelle (urinary antiseptic). Net sales for these products in 2011 totaled $30.4 million.
"This transaction is consistent with our strategy of concentrating our efforts on our core products in highly focused markets,” said Bruce Cozadd, chairman and CEO of Jazz Pharmaceuticals. “We believe that Meda will provide an excellent environment for the women's health team to continue to execute and grow this business within an organization that has an expanding commercial presence serving the women's health area.”
As part of the transaction, Meda will offer positions to approximately 60 Jazz Pharmaceuticals employees who directly support these products.
The transaction is expected to close in the fourth quarter of 2012.