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Jazz Pharma Restructures

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Jazz Pharmaceuticals has fired 71 employees (24% of its work force) to lower operating expenses. The company expects to record a charge of approximately $1.9 million in 4Q08 related to the move. Separately, the company’s chief financial officer, Matt Fust, has decided to leave the company at year end to pursue other professional interests. His responsibilities will be assumed by other members of the executive management team. The reduction does not affect the company’s sales force...

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