Jazz Pharmaceuticals Buys Aerial BioPharma Sleep Drug

Morrisville’s Aerial BioPharma sold its sleep drug to Irish drug company Jazz Pharmaceuticals in a deal that could be worth up to nearly $400 million. Jazz paid $125 million up front for a product Aerial has been developing to treat excessive daytime sleepiness in patients with narcolepsy. Jazz is acquiring all of Aerial’s rights, title and interest in and to the product, called ADX-N05, which include patents, clinical data and other rights. Read the full story