Full Press Release Details
DUBLIN , Feb. 10, 2014 /PRNewswire/ --Jazz Pharmaceuticals (Nasdaq: JAZZ ) today announced that it has commenced construction of a manufacturing and development facility to be located on a 17-acre site in Monksland, County Roscommon , approximately 75 miles east of the company's Dublin headquarters. This is the first manufacturing facility to be built by Jazz Pharmaceuticals.
"Today marks a milestone for Jazz Pharmaceuticals as we break ground in Ireland and begin, for the first time, construction on a manufacturing and development facility," said Bruce Cozadd , chairman and chief executive officer of Jazz Pharmaceuticals plc. "This investment not only strengthens our international manufacturing capabilities, but importantly represents our commitment to expanding our presence in Ireland. We are grateful for the partnership of Ireland's Industrial Development Authority and Roscommon County Council who helped make this project possible."
Members of the Board of Directors and employees of Jazz Pharmaceuticals were joined by the Taoiseach (Prime Minister) of Ireland , Mr. Enda Kenny TD and Mr. Barry O'Leary , CEO, Ireland's Industrial Development Authority (IDA Ireland ), during a ground-breaking ceremony today. At the ceremony, Mr. Cozadd outlined the company's plans to commence construction immediately, with an anticipated completion date in 2016. Jazz Pharmaceuticals expects to invest approximately $60 – $68 million (€45 – €50 million) in construction, development and personnel costs to build and open the 55,000 ft 2 (5,100 m 2 ) facility. The investment is being supported by the Irish Government's Department of Jobs, Enterprise and Innovation through IDA Ireland .
About Jazz Pharmaceuticals
Jazz Pharmaceuticals plc is a specialty biopharmaceutical company focused on improving patients' lives by identifying, developing and commercializing innovative products that address unmet medical needs. The company has a diverse portfolio of products in the areas of narcolepsy, hematology/oncology, pain and psychiatry. The company's U.S. marketed products in these areas include: Xyrem® (sodium oxybate) oral solution, Erwinaze® (asparaginase Erwinia chrysanthemi), Prialt® (ziconotide) intrathecal infusion, FazaClo® (clozapine, USP) HD and FazaClo LD. Jazz Pharmaceuticals also has a number of products marketed outside the U.S. and expects to launch Defitelio™ (defibrotide) in the European Union over the course of 2014. The company has product candidates in development in its sleep and hematology/oncology franchises. For further information, see www.jazzpharmaceuticals.com .
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements regarding Jazz Pharmaceuticals and the manufacturing and development facility described in this press release, including, but not limited to, the anticipated cost and timing of construction and the number of people that could be employed during construction and after opening of the facility, the expected launch of Defitelio in the European Union and the timing thereof, as well as other statements that are not historical facts. These forward-looking statements are based on the company's current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, including risks related to delays or cost increases in the construction of the facility, changes in the company's business or business priorities, the company's ability to successfully launch and commercialize Defitelio in a timely manner; the company's ability to successfully manage the risks associated with integrating Defitelio and any other products or product candidates the company may acquire in the future into the company's product portfolio and other risks detailed under the caption "Risk Factors" and elsewhere in Jazz Pharmaceuticals' U.S. Securities and Exchange Commission ("SEC") filings and reports, including in Jazz Pharmaceuticals' Quarterly Report on Form 10-Q for the quarter ended September 30, 2013 , which is filed with the SEC, and future filings and reports. Jazz Pharmaceuticals does not undertake any duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events or changes in its expectations.
SOURCE Jazz Pharmaceuticals plc