-Jazz Pharmaceuticals Enters Into Agreement with TerSera Therapeutics LLC for Prialt
DUBLIN - Jazz Pharmaceuticals plc (Nasdaq: JAZZ) today announced a definitive agreement to sell its rights related to Prialt (ziconotide) intrathecal infusion to TerSera Therapeutics LLC (TerSera) for $ 80 million in cash at closing.
The transaction is expected to close in the third quarter of 2018 and is subject to the satisfaction of customary closing conditions. As part of the transaction, TerSera will offer employment positions to a majority of the Jazz employees dedicated to Prialt.
Prialt is the only FDA approved, non-opioid agent indicated for the management of severe chronic pain in adult patients for whom intrathecal therapy is warranted. Jazz recorded $ 27 million in net product sales for Prialt in ...