Healthcare Industry News: Jazz Pharmaceuticals
News Release - January 12, 2007
Jazz Pharmaceuticals Signs Licensing Agreement With Valeant Pharmaceuticals for Canadian Marketing Rights to Xyrem(R)PALO ALTO, Calif., Jan. 12 (HSMN NewsFeed) -- Jazz Pharmaceuticals, Inc. today announced the signing of an agreement licensing Canadian marketing rights for Xyrem® (sodium oxybate) to Valeant Pharmaceuticals International (NYSE: VRX ). The agreement calls for Valeant to make an upfront payment to Jazz Pharmaceuticals and to make payments based on future Xyrem sales in Canada.
Xyrem is the first and only product approved in Canada to treat cataplexy, which is a sudden loss of muscle tone associated with narcolepsy. Valeant expects to launch and distribute Xyrem in Canada in mid 2007 through its neurology sales force.
"We are excited to be partnering with Valeant, which has a proven track record in commercializing pharmaceutical products, to bring this important treatment to patients in Canada," said Robert M. Myers, Chief Business Officer of Jazz Pharmaceuticals.
About Jazz Pharmaceuticals, Inc.
Jazz Pharmaceuticals is focused on helping patients by meeting unmet medical needs in neurology and psychiatry with important and innovative therapeutic products. Jazz Pharmaceuticals is aggressively building its product portfolio through a combination of commercialization and development activities. Based in Palo Alto, California, the company is committed to working closely with patients, patient advocacy groups and healthcare professionals. For further information, please visit www.JazzPharmaceuticals.com.
About Valeant Pharmaceuticals International
Valeant Pharmaceuticals International (NYSE: VRX ) is a global specialty pharmaceutical company that develops, manufactures and markets products primarily in the areas of neurology, infectious disease and dermatology. More information about Valeant can be found at www.valeant.com.
Source: Jazz Pharmaceuticals
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