In order to diversify its product portfolio, Jazz Pharmaceuticals has entered into an all-stock deal to combine with privately held Azur Pharma. Shareholders of Jazz Pharmaceuticals will own just under 80% of the combined entity, which will be called Jazz Pharmaceuticals plc and incorporated in Ireland. Azur Pharma markets 10 speciality pharmaceutical products in the US for pain and women’s health disorders and the combined company is expected to have more than US$475 M in sales in the first 12 months following closing of the transaction.