Jazz to buy EUSA Pharma for $650M cash

Jazz Pharmaceuticals plc said Thursday it is planning to acquire a private specialty pharmaceutical company, EUSA Pharma Inc., which has headquarters in the United States and the United Kingdom. Jazz, which has an office in Palo Alto (NASDAQ:JAZZ), is paying $650 million in cash, plus a potential milestone payment of $50 million in cash based on EUSA's lead product meeting an undisclosed, specified U.S. net sales target in 2013. The product is a life-saving treatment for a form of leukemia that primarily affects children.