Jazz Pharmaceuticals has entered into a definitive agreement to sell its women's health business to Meda, a specialty pharmaceutical company, for $95m in cash.
The women's health business includes six products Elestrin (estradiol gel), Gastrocrom (cromolyn sodium, USP), Natelle One (prenatal vitamin), AVC Cream (sulfanilamide), Gesticare DHA (prenatal multi-vitamin) and Urelle (urinary antiseptic).
Jazz chairman and chief executive officer Bruce Cozadd said, "We believe that Meda will provide an excellent environment for the women's health team to continue to execute and grow this business within an organization that has an expanding commercial presence serving the women's health area."
Under the transaction, which is expected to close in the fourth quarter of 2012, Meda will offer positions to approximately 60 Jazz Pharmaceuticals employees who directly support the products.
The closing of the transaction is subject to the satisfaction of customary closing conditions and regulatory approvals, including antitrust approvals, and is not subject to approval by Jazz Pharmaceuticals' shareholders.