Jazz Pharmaceuticals Announces Share Repurchase Program Authorization Increase of $400 Million
Prior to this increased authorization, the Board of Directors had authorized
"Our Board of Directors has approved an increase in our share repurchase program to provide continued flexibility to pursue share repurchases that enhance shareholder value while maintaining ample capital for investments in our business consistent with our strategy," said
Under the program, which has no expiration date, the company may repurchase ordinary shares from time to time on the open market or through privately negotiated transactions, self tender offers or structured repurchase transactions. The timing and amount of repurchases will depend on a variety of factors, including the price of the company's ordinary shares, alternative investment opportunities, restrictions under the company's credit agreement, corporate and regulatory requirements and market conditions. The share repurchase program may be modified, suspended or otherwise discontinued at any time without prior notice.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements, including, but not limited to, statements related to the company's expectations regarding future investments in its business, including commercial launches, R&D programs, corporate development transactions and share repurchases; and other statements that are not historical facts. These forward-looking statements are based on the company's current plans, objectives, estimates, expectations and intentions and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks and uncertainties associated with: the company's ability to repurchase its shares at favorable prices, or at all, due to market conditions, applicable legal and regulatory requirements, or other restrictions; potential restrictions on the company's ability and flexibility to pursue share repurchases and future strategic opportunities as a result of its substantial outstanding debt obligations and restrictions under its credit agreement; and other risks and uncertainties affecting the company, including those described from time to time under the caption "Risk Factors" and elsewhere in
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Jazz Pharmaceuticals Contacts: Investors: Kathee Littrell, Vice President, Investor Relations, Ireland, +353 1 634 7887, U.S., +1 650 496 2717, or Media: Jacqueline Kirby, Vice President, Corporate Affairs & Government Relations, Ireland, +353 1 697 2141, U.S., +1 215 867 4910