As the chairman and CEO of Jazz Pharmaceuticals Inc., Bruce C. Cozadd demonstrated his commitment to the company, the patients he serves and investors during 2009.
After co-founding Jazz and serving as executive chairman for six years, Cozadd found himself in a difficult situation last year. The company had completed three work force reductions in six months, was in default to its noteholders and on the verge of bankruptcy when the previous CEO informed Cozadd of his resignation.
Cozadd thought about what he held as important. He decided that he owed it to the company and the many stakeholders to take the CEO position and give it his absolute best effort to oversee a successful turnaround.
Within six months, Cozadd and his team had brought the company back to profitability, repaid past-due interest on the company’s debt and resolved the company’s defaults. The result of the increased organizational stability was dramatically reduced employee turnover. The company also closed a financing deal, completed clinical development of an important new treatment for fibromyalgia and saw its stock price improve more than tenfold.
Cozadd leads his company with the belief that it is possible to build a successful specialty pharmaceutical company by combining a capable management team, an integrated development team, commercial strategy and an innovative approach to financing.
The business plan at Jazz required innovation on both the development and commercial sides of the business. Cozadd and his leadership team have brought many products into human clinical development, one of which is still awaiting FDA approval. Three others are still in development.
Cozadd and the team at Jazz have overcome a number of early obstacles to realize the company’s current success and are setting the stage for more growth in the future.
How to reach: Jazz Pharmaceuticals Inc., (650) 496-3777 or www.jazzpharmaceuticals.com