Tallahassee, FL 1/6/12 (StreetBeat) -- Jazz Pharmaceuticals Inc. (Nasdaq: JAZZ) said Thursday it expects a larger profit in 2012 after it completes its acquisition of Azur Pharma Ltd., and said sales of its narcolepsy drug Xyrem should grow at least 40 percent for the year.Jazz Pharmaceuticals said it expects to report an annual profit of $2.62 to $2.88 per share, or $4 to $4.15 per share excluding one-time costs and gains. The company forecast $465 million to $490 million in revenue, including $330 million to $340 million in sales of Xyrem. It expects $460 million to $485 million in total product sales.
Analysts expect the combined company to earn $3.37 per share on revenue of $455.8 million, according to FactSet.
The company said sales of Xyrem grew 9 percent in the fourth quarter and 11 percent for 2011.
Jazz Pharmaceuticals said in September it was acquiring Azur Pharma in an all-stock deal. Jazz Pharmaceuticals said Thursday that it expects the deal to close the week of Jan. 16.
Once the deal is complete, the company will relocate to Dublin, Ireland, and change its name to Jazz Pharmaceuticals PLC. Jazz Pharmaceuticals shareholders will own almost 80 percent of the new company. In addition to Xyrem, Jazz Pharmaceuticals sells Luvox CR to treat obsessive compulsive disorder. Azur sells for central nervous system disorders and women's health.
The company said Thursday that U.S. antitrust regulators have finished reviewing the Azur acquisition.
Jazz Pharmaceuticals has forecast an adjusted profit of $3.45 to $3.50 per share in 2011, and said its product sales would be between $261 million to $268 million.
Shares of Jazz Pharmaceuticals rose $1.74, or 4.2 percent, to $43.20 in aftermarket trading following the release of the 2012 outlook. They picked up 67 cents to $41.46 during the regular trading session.
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