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Jazz tunes into cancer with EUSA buy

April 27, 2012 1:02 AM UTC

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) will acquire cancer-focused specialty pharma EUSA Pharma Inc. (Langhorne, Pa.) for $650 million in cash, plus a potential $50 million payment tied to 2013 U.S. sales of EUSA's Erwinaze. Jazz, which had 2011 revenue of $272.3 million, expects the deal to provide $210-$230 million in additional revenue in 2013.

Erwinaze, an Erwinia chrysanthemi derived asparaginase, is approved in the U.S., Canada, U.K. and several EU member states to treat acute lymphoblastic leukemia (ALL) in patients with hypersensitivity to Escherichia coli-derived asparaginase and -pegaspargase chemotherapy drugs. EUSA's other marketed products include ALL drug Kidrolase L-asparaginase and mucositis therapy Caphosol supersaturated calcium phosphate. EUSA had 1Q12 net sales of about $46 million. ...