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