Meda, an international specialty pharmaceutical company, has signed an agreement with the US-based specialty pharmaceutical company, Jazz Pharmaceuticals to acquire a portfolio of 6 pharmaceutical products focused on women’s health for for $95 million in cash.

The products included in the sale are Elestrin (estradiol gel), Gastrocrom (cromolyn sodium, USP), Natelle One (prenatal vitamin), AVC cream (sulfanilamide), Gesticare DHA (prenatal multi-vitamin) and Urelle (urinary antiseptic). Net sales for these products in 2011 totalled $30.4 million. As part of the transaction, Meda will offer positions to approximately 60 Jazz Pharmaceuticals employees who directly support these products.

"This transaction is consistent with our strategy of concentrating our efforts on our core products in highly focused markets. 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," stated Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals.  

The closing of the transaction is subject to the satisfaction of customary closing conditions and regulatory approvals, including antitrust approvals. The transaction is not subject to approval by Jazz Pharmaceuticals' shareholders. The transaction is expected to close in the fourth quarter of 2012.

Jazz Pharmaceuticals expects to recognize a non-recurring gain on the sale in the fourth quarter of 2012. The company plans to provide more detail about the financial impact of the transaction after closing.

Jazz Pharmaceuticals is a specialty pharmaceutical company focused on improving patients' lives by identifying, developing and commercializing innovative products to meet unmet medical needs.