Jazz Pharmaceuticals Grants Canadian Rights for Narcolepsy Treatment to Valeant Canada

On December 5, 2006 Jazz Pharmaceuticals, Inc. granted the commercialization rights to Xyrem® (sodium oxybate) in oral solution in Canada to Valeant Canada Ltd., the Canadian affiliate of Valeant International Inc., for the treatment of narcolepsy. In exchange for those rights, Valeant Canada has made an up-front payment and has agreed to a transfer price on product purchases and to make additional payments to Jazz Pharmaceuticals upon achievement of certain sales milestones. Specific financial terms were not disclosed.

Valeant Canada will launch Xyrem® for the treatment of narcolepsy in the coming months. Under the agreement, Valeant was also granted an option for additional indications. Jazz Pharmaceuticals will be responsible for providing product to Valeant Canada at a transfer price that includes product supply costs and compensation to Jazz Pharmaceuticals.

Jazz Pharmaceuticals, Inc. was represented by in-house counsel Philip J. Honerkamp.
Valeant Canada was represented by Valeant International's in-house counsel, Robert Chai-Onn, and by Ogilvy Renault LLP with a team comprised of Gino Martel and Annie Gauthier (commercial).


Annie Gauthier Gino Martel