Jazz Pharmaceuticals Breaks Ground On New Manufacturing And Development Facility In Ireland

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Feb 10, 2014, 08:05 ET

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 ft²(5,100 m²) facility. The investment is being supported by the Irish Government's Department of Jobs, Enterprise and Innovation through IDA Ireland.

"I'm delighted to be here for the ground-breaking of Jazz Pharmaceuticals' new manufacturing facility in Roscommon. This is a great boost for the local area and the 160 jobs being created in the construction phase will provide an opportunity for some of those people who lost jobs in this sector in recent years. The new facility will also create up to 50 new jobs when operating at full capacity," said the Taoiseach, Mr. Enda Kenny TD during the ground-breaking ceremony. "I welcome the decision by Jazz Pharmaceuticals to locate in Ireland which is a vote of confidence in our economy and Government policy, like the Action Plan for Jobs, which is targeted towards supporting sectors with the greatest potential to generate jobs."

"Jazz Pharmaceuticals' decision to build a manufacturing site in Ireland is testament to the excellent reputation Ireland has as a global location for biopharmaceutical development and manufacturing," said Mr. Barry O'Leary, CEO IDA Ireland. "This is a strategically important development for Jazz Pharmaceuticals and Ireland is well placed to support manufacturing for the company's growing commercial portfolio."

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