Jazz slashes expected IPO price, follows “date rape” controversy
Jazz Pharmaceuticals, the generally unexciting specialty-pharmaceutical maker that hoped to raise $179.4 million in an IPO, has collided with reality.
The Palo Alto, Calif. company today slashed its expected IPO price by a fifth.
We’ve written before about Jazz and its wildly overrated strategy of salvaging poorly performing or cast-off drugs from other companies. David Hamilton, of VentureBeat LifeSciences, is on the trail, noting other worrying signs, such as the fact that the active ingredient in Jazz’s… Continue Reading
Jazz Pharma ratchets down IPO hopes amid drug controversy
(UPDATED: See below.) Jazz Pharmaceuticals, the generally unexciting specialty-pharmaceutical maker that had hoped to raise $179.4 million in an IPO, has collided with reality.
The company today lowered its expected IPO take to a maximum of $144.9 million, a drop of almost 20 percent, based on an expected offering of up to 6.9 million shares at a price of $20 to $21 apiece. Jazz had previously intended to price its shares between $24 and $26. Here is its… Continue Reading