Jazz Pharmaceuticals Plc, maker of the narcolepsy medicine Xyrem, declined in New York trading after the company reported a public offering of 7.88 million shares by some stockholders.
Jazz dropped 3.5 per cent to $49.55 in early trading. The shares of the Dublin-based company had gained 89 per cent in the 12 months before today. The drugmaker also has offices in Palo Alto, California, and Philadelphia.
Barclays Plc and Citigroup Inc. are leading the offering, Jazz said yesterday in a...
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