Azur Pharma Completes Equity Financing for US$48 Million

    FazaClo Acquisition Completed

    DUBLIN, Aug. 7 /CNW/ - Azur Pharma Limited ("Azur") today announced it
has successfully completed a private placement of ordinary shares for US$48
million (EUR35 million). The new share issuance represents 28% of Azur's
outstanding share capital. The private placement was arranged through Davy
Corporate Finance Limited.
    Mr. Seamus Mulligan, Chairman and Chief Executive of Azur, stated "We are
pleased to announce the successful completion of our offering and the closing
of the acquisition of FazaClo(R). The offering leaves us with strong cash
resources after funding the acquisition. We have now raised in excess of
US$100 million of equity since our formation in mid 2005."
    Mr. Mulligan further commented, "We have made good progress in growing
our business since we founded the company two years ago. FazaClo is our third
acquisition having previously purchased Gastrocrom and Pharmelle in January
2006 and February 2007, respectively. We have established a full commercial
infrastructure in the United States with growing revenues and 90 sales
representatives covering CNS and urology/women's health. The offering provides
us with the cash resources to acquire further products and pipeline assets."

    About Azur

    Azur is a privately held pharmaceutical company dedicated to enhancing
patients' lives by developing and marketing pharmaceutical products in
specialist therapeutic areas. Azur's strategy is to identify, evaluate,
selectively acquire and enhance the value of late stage development and
approved pharmaceutical products. (Website:

For further information:

For further information: Media Contact: Mr. Ray Gordon, MRPA Kinman
Communications, Telephone: +353-1-7038619/+353-87-2417373, E-mail:

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