Bruce Cozadd

Chairman and CEO

October 18, 2011

Introduction to Jazz Pharmaceuticals

2

Forward-Looking Statements

This presentation contains forward-looking statements, including, but not limited to, statements related to the anticipated

consummation of the business combination transaction between Jazz Pharmaceuticals and Azur Pharma and the timing and

benefits thereof, the combined company’s, and each respective company’s, strategy, plans, objectives, expectations

(financial

or

otherwise)

and

intentions,

future

financial

results

and

growth

potential

(including

Jazz

Pharmaceuticals’

2011

Financial Guidance), anticipated product portfolio, development programs, intellectual property and tax position,

management structure, and other statements that are not historical facts.  These forward-looking statements are based on

Jazz Pharmaceuticals' current expectations 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

related

to

Jazz

Pharmaceuticals’

ability

to

complete

the

transaction

on the proposed terms and schedule; risks associated with business combination transactions, such as the risk that the

businesses will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than

expected; risks related to future opportunities and plans for the combined company, including uncertainty of the expected

financial performance and results of the combined company following completion of the proposed transaction; disruption

from the proposed transaction, making it more difficult to conduct business as usual or maintain relationships with

customers, employees or suppliers; the calculations of, and factors that may impact the calculations of, the acquisition price

in connection with the proposed merger and the allocation of such acquisition price to the net assets acquired in accordance

with applicable accounting rules and methodologies; and the possibility that if the combined company does not achieve the

perceived benefits of the proposed transaction as rapidly or to the extent anticipated by financial analysts or investors, the

market price of the combined company’s shares could decline, as well as other risks related to Jazz Pharmaceuticals’

business,

including

Jazz

Pharmaceuticals’

dependence

on

sales

of

Xyrem

®

and its ability to increase sales of its Xyrem and

Luvox

CR

®

products;

competition,

including

potential

generic

competition;

Jazz

Pharmaceuticals’

dependence

on

single

source suppliers and manufacturers; the ability of Jazz Pharmaceuticals to protect its intellectual property and defend its

patents; regulatory obligations and oversight; Jazz Pharmaceuticals cash flow; and those risks detailed from time-to-time

under

the

caption

“Risk

Factors”

and

elsewhere

in

Jazz

Pharmaceuticals’

SEC filings and reports, including in its Quarterly

Report on Form 10-Q for the quarter ended June 30, 2011.  Jazz Pharmaceuticals undertakes no duty or obligation to

update

any

forward-looking

statements

contained

in

this

presentation

as

a

result

of

new

information,

future

events

or

changes in its expectations.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995

3

Additional Information

In

connection

with

the

proposed

business

combination

transaction

described

in

this

presentation,

Jazz

Pharmaceuticals

and

Azur

Pharma

will

be

filing

documents

with

the

SEC,

including

the

filing

by

Jazz

Pharmaceuticals

of

a

preliminary

and

definitive proxy statement/prospectus relating to the proposed transaction and the filing by Azur Pharma of a registration

statement on Form S-4 that will include the proxy statement/prospectus relating to the proposed transaction.  After the

registration

statement

has

been

declared

effective

by

the

SEC,

a

definitive

proxy

statement/prospectus

will

be

mailed

to

Jazz Pharmaceuticals stockholders in connection with the proposed transaction.  INVESTORS AND SECURITY HOLDERS

ARE

URGED

TO

READ

THE

REGISTRATION

STATEMENT

ON

FORM

S-4

AND THE RELATED PRELIMINARY AND

DEFINITIVE PROXY/PROSPECTUS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT

INFORMATION ABOUT JAZZ PHARMACEUTICALS, AZUR PHARMA AND THE PROPOSED TRANSACTION.  Investors

and security holders may obtain free copies of these documents (when they are available) and other related documents filed

with

the

SEC

at

the

SEC’s

web

site

at

www.sec.gov,

by

directing

a

request

to

Jazz

Pharmaceuticals’

Investor

Relations

department at Jazz Pharmaceuticals, Inc., Attention: Investor Relations, 3180 Porter Drive, Palo Alto, California 94304, or to

Jazz

Pharmaceuticals’

Investor

Relations

department

at

650-496-2800

or

by

email

to

investorinfo@jazzpharma.com.

Investors and security holders may obtain free copies of the documents filed with the SEC on Jazz Pharmaceuticals’

website

at

www.jazzpharmaceuticals.com

under

the

heading

“Investors”

and

then

under

the

heading

“SEC

Filings.”

Jazz

Pharmaceuticals and its directors and executive officers and Azur Pharma and its directors and executive officers may be

deemed

participants

in

the

solicitation

of

proxies

from

the

stockholders

of

Jazz

Pharmaceuticals in connection with the

proposed transaction.  Information regarding the special interests of these directors and executive officers in the proposed

transaction will be included in the proxy statement/prospectus described above.  Additional information regarding the

directors

and

executive

officers

of

Jazz

Pharmaceuticals

is

also

included

in

Jazz

Pharmaceuticals’

proxy

statement

for

its

2011 Annual Meeting of Stockholders, which was filed with the SEC on April 12, 2011.  These documents are available free

of charge

at

the

SEC’s

web

site

at

www.sec.gov

and

from

Investor

Relations

at

Jazz

Pharmaceuticals

as

described

above. 

This communication does not constitute an offer to sell, or the solicitation of an offer to sell, or the solicitation of an offer to

subscribe for or buy, any securities nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which

such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such

jurisdiction. 

For full prescribing information refer to product websites.

Additional Information and Where to Find It

Building Shareholder Value by Focusing on Patient Needs

Jazz Pharmaceuticals’

mission is to improve

patients’

lives by identifying, developing and

commercializing valuable pharmaceutical

products in focused therapeutic areas

4

5

Pursue lower risk

development of

specialty products

Invest percentage

of sales longer-term

Strategy to Build Shareholder Value

Grow Xyrem sales in

current indications

Increased focus on

achieving full potential

Acquire additional

marketed or close to

approval products

Leverage our expertise

and infrastructure

2

Maintain entrepreneurial, ownership culture at the company

Make disciplined resource allocation decisions

1

3

4

Current Business and Financial

Overview

$39

$54

$97

$215-225

2010

2009

2008

2007

2011G

$143

Xyrem -

Strong Sales Growth

2011 Guidance $215M-$225M

8%

7

$0

$25

$50

$75

$100

$175

$200

$125

$150

$225

$250

1.

Based on guidance provided on July 28, 2011.  The company is not updating the prior guidance and actual results may differ.

1

Xyrem is a Standard of Care in Narcolepsy

•

Only FDA-approved product for both cataplexy and

excessive daytime sleepiness in patients with

narcolepsy

–

Marketed in U.S. since 2002

–

Marketed in major European countries by

UCB and in Canada by Valeant

•

Currently marketed in U.S. by 110-person specialty sales force

•

Approximately 8,700 patients on therapy, usually in conjunction with stimulant therapy

•

Distributed

under

proprietary

Xyrem

Success

Program

®

8

The Burden of Narcolepsy

•

Affects 1 in 2000 in US

1

–

multiple sclerosis and Parkinson's disease

2

–

> cystic fibrosis

3

•

Although narcolepsy is thought to affect between

125,000 and 200,000 Americans, only about

50,000 are diagnosed

4

•

Key symptoms can be debilitating

–

Cataplexy occurs in 60%-100% of patients

–

100% experience excessive daytime sleepiness

9

1.

National Institute of Neurological Disorders and Stroke.  http://www.ninds.nih.gov/disorders/narcolepsy/detail_narcolepsy.htm. Accessed March 17, 2011.

2.

Narcolepsy Sleep Foundation. www.sleepfoundation.org/article/sleep-related-problems/narcolepsy-and-sleep. Accessed March 17, 2011.

3.

Zemanick et  al. J Cyst Fibros. 2010;9:1-16.

4.

American Sleep Association. http;//www.sleepassociation.org/index.php?p=aboutnarcolepsy. Accessed March 17, 2011.

-40

-30

-20

-10

0

Xyrem has Demonstrated Effect

on Two Key Symptoms of Narcolepsy

XYREM

6 g/night

(n=58)

XYREM

9 g/night

(n=47)

Placebo

(n=59)

–16%

*

–37%

*

–3%

Improvement in Epworth

Sleepiness Scale

1

Week 2

Week 4

Baseline

Reduction in Weekly

Cataplexy Attacks

2

*p<0.001 vs placebo

*p<0.05 vs placebo

+p<0.005 vs placebo

-28%

-49%*

-69%+

10

-80

-60

-40

-20

0

Placebo (n=33)

XYREM 6 g/night (n=31)

XYREM 9 g/night (n=33)

Trial 3: From a 8-week, multicenter, randomized, double-blind, placebo controlled, parallel-arm trial of narcolepsy patients (N=228) with moderate to severe EDS and cataplexy symptoms.  Antidepressants were withdrawn prior to

Trial 1: From a 4-week, double-blind, placebo-controlled trial of narcolepsy patients (N=136) with moderate to severe cataplexy (median of 21 attacks per week) comparing the effects of three doses of orally administered

sodium oxybate with placebo for the treatment of narcolepsy. Patients continued to receive stable stimulant therapy throughout the study.  The US XYREM Multicenter Study Group. Sleep. 2002;25(1):42-29.

1.

2.

randomization,

and

stimulants

were

continued

throughout

the

study

at

stable

doses.

In

XYREM

clinical

trials,

80%

of

patients

maintained

concomitant

stimulant

use.

XYREM

International

Study

Group.

J

Clin

Sleep

Med.

2005;1:391.

Most Common Adverse Events in

Controlled Studies of Xyrem

Adverse Event

% of Patients (N=655)

Placebo

Xyrem

Nausea

4

19

Dizziness

4

18

Headache

15

18

Vomiting

1

8

Somnolence

4

6

Urinary incontinence

4

<1

6

Nasopharyngitis

5

6

Label includes boxed warning that sodium oxybate is a central nervous system

depressant with abuse potential and should not be used with alcohol or other

CNS depressants.  See complete boxed warning at end of presentation.

11

1

2

3

1. Occurring in     5% of XYREM patients and more frequently than with placebo.  2. Data on file, Jazz Pharmaceuticals, Inc.  3. XYREM (sodium oxybate) PI.  4. Generally nocturnal enuresis.

Strong Sodium Oxybate Patent Coverage

* Listed in FDA Orange Book

12

Number

Issue Date

Expiration Date

Distribution system patent*

7,765,106

7/27/2010

6/16/2024

Distribution system patent*

7,765,107

7/27/2010

6/16/2024

Distribution system patent

7,797,171

9/14/2010

6/16/2024

Distribution system patent*

7,668,730

2/23/2010

6/16/2024

Distribution system patent*

7,895,059

2/23/2011

12/17/2022

Formulation patent*

6,780,889

8/24/1999

7/4/2020

Formulation patent*

7,262,219

8/28/2007

7/4/2020

Process patent

6,472,431

10/29/1999

12/22/2019

Method of use patent*

7,851,506

12/14/2010

12/22/2019

Overview of Manufacturing and Distribution

•

DEA drug quota needed to manufacture controlled “Schedule I”

API

•

Exclusive relationships with API supplier and finished goods manufacturer

•

Unique proprietary distribution system uses exclusive single pharmacy

•

Risk management program and unique product attributes require high

touch commercial capabilities

13

Current Xyrem Patient Coverage Distribution*

•

Approximately 90% of insured patients

have access

•

Relatively low rates of required prior

authorizations

•

Low monthly out-of-pocket (OOP)

expenses

–

Over 70% of patients have monthly

OOP

of

$50

79%

8%

3%

1%

9%

*  Company

data

and

MediMedia

Formulary

Compass

July

2011.

Commercial

Medicaid

Medicare Part D

Patient Asst

Program

Cash

14

15

•

New narcolepsy physician targets

•

Xyrem Success Program education

•

Patient services

-

Nursing program

-

Xyrem Patient Connection

-

Patient assistance programs

Increased Marketing Investment

Xyrem Growth Initiatives

Improve Market Penetration Over Time

Current Patients = ~ 8,700

Approximately 17% of 50K Diagnosed Narcolepsy Patients

16

Luvox CR

®

-

Important Treatment Option for OCD

•

Indicated for obsessive compulsive

disorder (OCD)

•

OCD

affects

~

2.2

million

Americans

1,2

–

Often underdiagnosed

3,4

–

Difficult to differentiate from comorbidities

5

•

Only 43% of adults newly diagnosed with OCD received adequate treatment in the

year

after

their

first

visit

for

OCD

6

Label includes boxed warning regarding suicidality and antidepressant drugs.

See complete boxed warning at end of presentation.

1. National Institute of Mental Health. http://www.nimh.nih.gov/health/publications/the-numbers-count-mental-disorders-in-america.shtml. Accessed March 3, 2008.  2. Kessler RC, et al. Arch Gen Psychiatry. 2005;62:617-627.

3. Fireman B, et al. Am J Psychiatry. 2001;158:1904-1910.  4. Grabill K et al..Assessment of obsessive-compulsive disorder: a review.J Anxiety Disord. 2008;22(1):1-17.  5. Hales RE, et al (eds). Textbook of Psychiatry.

1999:600-610.  6. Koran LM, et al. Am J Health Syst Pharm. 2000;57:1972-1978.

Luvox CR –

Continued Sales Growth

2011 Guidance $32M-$35M

1

$30

$6

$32-35

2009

2008

2011G

17

$0

$5

$10

$15

$20

$25

2010

$18

$35

$40

$27

1.

Based on guidance provided on July 28, 2011.  The company is not updating the prior guidance and actual results may differ.

2.

Includes $2.0 million of revenue recorded as a result of a change in the timing of when Luvox CR revenue is recognized. The company now records sales upon shipment to distributors net of estimated

returns.

2

18

2011 Guidance Reflects High Operating Leverage

1.

Based on guidance provided on July 28, 2011.  The company is not

updating the prior guidance and actual results may differ.

2.

Adjusted

net

income

and

adjusted

EPS

are

non-GAAP

financial

measures

that

exclude

certain

items

from

GAAP

net

income

and

GAAP

EPS.

A

reconciliation

of

adjusted

net

income

to

GAAP net income and the related per share amounts is in a table included with this presentation.

2010-

A

2011-

G

1

Total Product Sales

$170M

$247 –

260M

Xyrem

$143M

$215 –

225M

Luvox CR

$27M

$32 –

35M

SG&A and R&D Combined

$95M

$105 –

110M

GAAP Net Income

$33M

$123 –

131M

Adjusted Net Income

2

$61M

$145 –

153M

GAAP EPS

$0.83

$2.68 -

$2.79

Adjusted EPS

2

$1.55

$3.15 –

$3.25

19

Investment Rationale

•

High sales and earnings growth rates

•

High margins and high operating leverage

•

Significant potential to increase Xyrem sales

•

Strong

Xyrem

exclusivity

position

including

patents

extending

to

2024

•

Potential to leverage existing commercial capabilities with new products

•

Disciplined approach to resource allocation

Strategic Transaction with

Azur Pharma

21

Strategic Benefits

•

Diversified portfolio of CNS and

women’s health products

•

Increased scale and platform

for growth

•

Resources to invest in future

pipeline and strong franchise

management opportunities

•

Stronger, enhanced

management team

Projected Financial Benefits

•

Accretive transaction

1

•

Revenues >$475M

and cash flow >$200M in

first 12 months

•

~$250M cash at closing

2

•

Strong balance sheet

with no debt

1

Accretion for Jazz Pharmaceuticals shareholders is on a  fully-taxed adjusted EPS basis. Adjusted EPS is a non-GAAP financial measure that exclude certain items from GAAP EPS.

2

Pro forma estimate as of Jan 1, 2012.

Compelling Strategic and Financial Benefits

Jazz

Pharmaceuticals plc

Ireland

22

Jazz Pharmaceuticals plc

•

12 products

currently marketed in US

•

>$475 million

in

revenues

in

first

12

months

•

>$200 million

in

cash

generated

in

first

12

months

•

Jazz

Pharmaceuticals:

slightly

under

80%;

Azur

Pharma: slightly over 20%

•

Combined capitalization approximately 60M shares fully diluted at closing

•

Jazz

Pharmaceuticals

board

represented

funds

entered

into

voting

agreements (~43% of shares)

•

99%

of

Azur

shareholders entered into agreement to take necessary actions

•

Current directors of Jazz Pharmaceuticals

•

Seamus Mulligan (Chairman and CEO, Azur Pharma)

Portfolio & Financial

Projections

Ownership in

Combined Company

Shareholder Votes

Board of Directors

Management

•

Bruce Cozadd, Chairman and CEO

•

Kate Falberg, CFO

•

Seamus Mulligan, Chief Business Officer, International Business Development

•

Azur executives join JPI executives in leadership roles

Anticipated Closing: 1Q12

23

Azur Pharma –

Compelling Fit With Jazz Pharmaceuticals

$0

$20

$40

$60

$80

$100

2006

2007

2008

2009

2010

CNS

Women’s Health

Net Sales

(Millions)

•

Strong commercial focus and expertise

in CNS and women’s health

•

Key products present new growth

opportunities

•

Lower risk pipeline of line extensions for

clozapine franchise and LCM programs

for key women’s health brands

24

2011 Estimated Revenues

Stand Alone Jazz Pharmaceuticals, Inc.

Pro forma Jazz Pharmaceuticals plc

A Growing, Diversified Product Portfolio

Luvox CR

13%

Xyrem 87%

Xyrem 63%

Luvox CR

9%

Prialt 6%

Women’s

Health 10%

Other CNS

1%

FazaClo LD

8%

FazaClo HD

3%

25

•

Sourcing of new products for all markets

•

Potential expansion into Europe

Benefits of New Corporate Structure

Access to international capital markets and business development

opportunities

•

Sales, marketing, and clinical/medical science liaison organizations

•

Multi-product supply chain management

•

BD executives with demonstrated success

Enhanced management capabilities

•

Enhanced ability to attract and retain key talent

Additional locations (Philadelphia, Dublin)

Parent company in Ireland expected to license, develop and acquire

existing and new products

26

Next Steps

File preliminary proxy

statement and S-4

Expected to

close 1Q12

Transaction is

subject to customary

closing conditions

and regulatory

approvals, including:

•

SEC effectiveness of S-4

•

Jazz Pharmaceuticals, Inc.

stockholder approval

•

Azur approval of other

necessary actions

•

Antitrust clearance

•

Transaction will be taxable to

Jazz Pharmaceuticals, Inc.

stockholders

•

Jazz Pharmaceuticals plc

shares to be traded on Nasdaq

27

Strategic Benefits

•

Diversified portfolio of CNS and

women’s health products

•

Increased scale and platform

for growth

•

Resources to invest in future

pipeline and strong franchise

management opportunities

•

Stronger, enhanced

management team

Projected Financial Benefits

•

Accretive

transaction

•

Revenues >$475M

and cash flow >$200M in

first 12 months

•

~$250M cash at closing

•

Strong balance sheet

with no debt

1

Accretion for Jazz Pharmaceuticals shareholders is on a  fully-taxed adjusted EPS basis. Adjusted EPS is a non-GAAP financial measure that excludes certain items from GAAP EPS.

2

Pro forma estimate as of Jan 1, 2012.

Compelling Strategic and Financial Benefits

Jazz

Pharmaceuticals plc

Ireland

1

2

29

FY 2011G

FY 2010

Reconciliation of GAAP Net Income and EPS to Adjusted

Net Income and EPS in Financial Results and Guidance

(In millions, except per share amounts)

GAAP net income

Add:

Intangible asset amortization

Stock-based compensation expense

Non-cash interest expense

Loss on extinguishment of debt

Deduct:

Contract revenues

GAAP net income per diluted share (EPS)

Adjusted net income per diluted share (EPS)

Shares used in computing GAAP and adjusted net

income per diluted share amounts

Adjusted net income

Luvox CR revenue recognition timing change

(1)

$123-131

7

14

2

$145-153

$2.68-2.79

$3.15-3.25

46-47

-

(1)

$33

8

8

2

$61

$0.83

$1.55

39

12

(1)

1.

Based on guidance provided on July 28, 2011.  The company is not

updating the prior guidance and actual results may differ.

-

1

30

Xyrem

(sodium oxybate)

Boxed Warning

Sodium

oxybate

is

GHB,

a

known

drug

of

abuse.

Abuse

has

been

associated

with

some

important

central

nervous

system

(CNS) adverse events (including death). Even at recommended doses, use has been associated with confusion, depression

and other neuropsychiatric

events.

Reports

of

respiratory

depression

occurred

in

clinical

trials.

Almost

all

of

the

patients

who

received sodium oxybate during clinical trials were receiving CNS stimulants.

Important CNS adverse events associated with abuse of GHB include seizure, respiratory depression and profound decreases

in level

of

consciousness,

with

instances

of

coma

and

death.

For

events

that

occurred

outside

of

clinical

trials,

in

people

taking

GHB for

recreational

purposes,

the

circumstances

surrounding

the

events

are

often

unclear

(e.g.,

dose

of

GHB

taken, the

nature and amount of alcohol or any concomitant drugs).

Xyrem is available

through

the

Xyrem

Success

Program,

using

a

centralized

pharmacy

1-866-XYREM88

®

(1-866-997-3688). The

Success

Program

provides

educational

materials

to

the

prescriber

and

the

patient

explaining

the

risks

and

proper

use of

sodium oxybate,

and

the

required

prescription

form.

Once

it

is

documented

that

the

patient

has

read

and/or

understood

the

materials,

the

drug

will

be

shipped

to

the

patient.

The

Xyrem

Success

Program

also

recommends

patient

follow-up

every 3

months. Physicians are expected to report all serious adverse events to the manufacturer. (See WARNINGS).

XYREM (sodium oxybate) PI

!WARNING:

Central

nervous

system

depressant

with

abuse

potential.

Should

not

be

used

with

alcohol

or

other

CNS

depressants.

Luvox CR

(fluvoxamine maleate)

Boxed Warning

LUVOX CR (fluvoxamine maleate ) PI

Suicidality and Antidepressant Drugs

Antidepressants increased the risk compared to placebo of suicidal thinking

and behavior (suicidality) in children, adolescents, and young adults in short-term

studies of major depressive disorder (MDD) and other psychiatric

disorders.

Anyone

considering

the

use

of

LUVOX

CR

®

(fluvoxamine

maleate)

Extended-Release Capsules or any other antidepressant in a child, adolescent,

or young adult must balance this risk with the clinical need. Short-term studies

did

not

show

an

increase

in

the

risk

of

suicidality

with

antidepressants

compared to placebo in adults beyond age 24; there was a reduction in risk with

antidepressants

compared

to

placebo

in

adults

aged

65

and

older.

Depression

and certain other psychiatric disorders are themselves associated with

increases in the risk of suicide. Patients of all ages who are started on

antidepressant therapy should be monitored appropriately and observed closely

for clinical worsening, suicidality, or unusual changes in behavior. Families and

caregivers should be advised of the need for close observation and

communication with the prescriber. LUVOX CR Capsules are not approved for

use

in

pediatric

patients.

(See

WARNINGS:

Clinical

Worsening

and

Suicide

Risk,

PRECAUTIONS: Information for Patients, and PRECAUTIONS: Pediatric Use.)