Jazz Pharmaceuticals (NASDAQ:JAZZ) has announced that they have wrapped up their acquisition of privately-held EUSA Pharma for $680 million in cash and notes it is accretive to their earnings and expect incremental modified EPS of $0.25 to $0.30 in 2012. Jazz Pharma will retain the EUSA name in international business.
“This transaction furthers our mission to improve patients’ lives by growing our portfolio of specialty therapies that address significant medical needs,” said Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals. “The addition of EUSA Pharma as our new international business also expands our global footprint and brings additional marketed products and development opportunities to the company. We are also pleased to bring new talent to the company from EUSA Pharma to help us pursue our goals as a specialty biopharmaceutical company dedicated to reaching patients who have very specific needs.”
Jazz Pharmaceuticals is slated to provide new guidance for the combined company with the upcoming announcement of its Q2 2012 financial results. The EUSA Pharma transaction is expected to be accretive to earnings in 2012, adding expected incremental revenue of $90 million to $100 million and an estimated additional $0.25 to $0.30 in adjusted earnings per share.
JAZZ is trading at $41.76 per share with a daily high of $42.13 to a low of $40.38 just past noon, Eastern.
