2011 First Quarter Plays

[Lucifer]

Recent transactions:

Sold - all JAZZ shares
Sold - Jazz Aug $7.5 Calls (to close)
Kept - Jazz Aug $10 Calls and Jazz Sept $12.50 Calls
Watching - Jazz Sept $7.5 Puts (to open)

When the music stops, where is the money from Jazz going to? HGSI? SVNT? CPIX?

Bought - AVNR & BIOD
Added - ALXA

GLTA, L.

[globalequitygroup]

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933

JAZZ PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)

Delaware05-0563787

(State or other jurisdiction of

incorporation or organization)
(I.R.S. Employer
Identification No.)

3180 Porter Drive
Palo Alto, CA 94304
(650) 496-3777
(Address of principal executive offices)

Amended and Restated Directors Deferred Compensation Plan
(Full title of the plan)

Bruce C. Cozadd
Chairman and Chief Executive Officer
Jazz Pharmaceuticals, Inc.
3180 Porter Drive
Palo Alto, CA 94304
(650) 496-3777
(Name, address, including zip code, and telephone number, including area code, of agent for service)

Copies to:

Suzanne Sawochka Hooper, Esq.
Chadwick Mills, Esq.
Cooley LLP
Five Palo Alto Square
3000 El Camino Real
Palo Alto, CA 94306-2155
(650) 843-5000
Carol A. Gamble, Esq.
Philip J. Honerkamp, Esq.
Jazz Pharmaceuticals, Inc.
3180 Porter Drive
Palo Alto, CA 94304
(650) 496-3777

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer¨Accelerated filer¨Non-accelerated filer¨ (Do not check if a smaller reporting company)Smaller reporting companyx

CALCULATION OF REGISTRATION FEE

Title of Securities to be Registered

Amount

to be
Registered(1)
Proposed
Maximum
Offering Price Per
Share(2)
Proposed
Maximum
Aggregate
Offering Price(2)

Amount of
Registration FeeCommon Stock, par value $0.0001 per share
200,000 shares $9.36

[bio_tech]

Arena may not have met FDA heart valve safety criteria, says Jefferies
After reviewing the FDA panel documents for Arena Pharma's (ARNA) lorcaserin, Jefferies believes the drug did not meet the FDA's heart valve safety criteria. The firm thinks the FDA will favor its analysis methodology when evaluating the drug and lowered its price target for shares to $5 from $6 while keeping a Hold rating.

[erlik]

The JAZZ dilution is nothing much: 200,000 shares are less than 0.7% of dilution. What I am afraid of is people seeing dilution and selling in panic without looking at the number of shares. This may mean that I have to wait until monday or tuesday to sell the "run-up" portion of my shares...

It is probably also time to think what I'll invest in in September beside the ARNA panel. ALKS and SVNT are good potential option plays and CPIX is a fairly safe "shares" play (lot of cash but with limited upside potential).

[newguy]

Have the ARNA panel documents been published?

[globalequitygroup]

Arena may not have met FDA heart valve safety criteria, says Jefferies
After reviewing the FDA panel documents for Arena Pharma's (ARNA) lorcaserin, Jefferies believes the drug did not meet the FDA's heart valve safety criteria. The firm thinks the FDA will favor its analysis methodology when evaluating the drug and lowered its price target for shares to $5 from $6 while keeping a Hold rating.

As I mentioned in my analysis, the Lorcaserin arm of the trial experienced such a low incidence of Cardiac Vulvopathy, that it weakened the strength of their data. The FDA said they should have had a certain number of cases based on its trial size, but they had far fewer, thus weakening the statistical strength of the data. I see it as a positive, but then again I am not a statistician or doctor. All I see is that there was hardly any incidence of Vulvopathy. At any rate, I was not aware the data had been released already, this far ahead of the panel. I have seen no other downgrades from other analysts who must have access to the same data. And As I have said numerous times...I could care less what an analyst says. Jeffries...aren't these the same guys that downgraded Vivus ahead of the Qnexa Panel on June 16th over concern about the Avandia panel being the day before,...sending the stock into the toillet, then upgraded Vivus to a "buy" a day or two ahead of the panel? They seem to lack conviction in their calls from my perspective. And this is the same analyst..Mr Wei.

Whatever the case...Lorcaserin is not a slam dunk as everyone seems to think it is, but it has the best odds in my personal opinion, and until I see a reason more significant than a Jeffries "lack of conviction one way or the other" downgrade I am going to hold firm.

Could I be dead wrong an overconfident and get absolutley mauled and demoralized by this conviction? Of Course.

But that is my position on Lorcaserin. My research gives me the confidence to hold as this was an issue that I had already prepared myself for. Thus why your research should be just as thorough, so that you can hold steady on your trade when the waters get choppy and take your emotions out of the equation.

GEG.

[Spunk]

As I mentioned in my analysis, the Lorcaserin arm of the trial experienced such a low incidence of Cardiac Vulvopathy, that it weakened the strength of their data. The FDA said they should have had a certain number of cases based on its trial size, but they had far fewer, thus weakening the statistical strength of the data. I see it as a positive, but then again I am not a statistician or doctor. All I see is that there was hardly any incidence of Vulvopathy. At any rate, I was not aware the data had been released already, this far ahead of the panel. I have seen no other downgrades from other analysts who must have access to the same data. And As I have said numerous times...I could care less what an analyst says. Jeffries...aren't these the same guys that downgraded Vivus ahead of the Qnexa Panel on June 16th over concern about the Avandia panel being the day before,...sending the stock into the toillet, then upgraded Vivus to a "buy" a day or two ahead of the panel? They seem to lack conviction in their calls from my perspective. And this is the same analyst..Mr Wei.

Whatever the case...Lorcaserin is not a slam dunk as everyone seems to think it is, but it has the best odds in my personal opinion, and until I see a reason more significant than a Jeffries "lack of conviction one way or the other" downgrade I am going to hold firm.

Could I be dead wrong an overconfident and get absolutley mauled and demoralized by this conviction? Of Course.

But that is my position on Lorcaserin. My research gives me the confidence to hold as this was an issue that I had already prepared myself for. Thus why your research should be just as thorough, so that you can hold steady on your trade when the waters get choppy and take your emotions out of the equation.

GEG.

The safest approach would be to wait until the panel documents are out, if you see anything on valvupathy sell, I have learnt its one thing to be convicted its another thing when you know that all it takes is one overly safe panelist to sway votes away....The docs woul tell the tale as of now this stock is being raped by this analyst

[bio_tech]

For those who are in Jazz:

Jefferies sees a target of $13 on shares of Jazz Pharmaceuticals, Inc. (NASDAQ: JAZZ) if the FDA approves its fibromyalgia drug.

In the report Jefferies & Co. writes, "Jazz's JZP-6 (Xyrem for fibromyalgia) will face a joint Arthritis and Drug Safety & Risk Management AdCom meeting Aug. 20 (briefing docs should be out Aug.18). JZP-6 has unambiguously solid efficacy, so we expect the panel to focus on safety and potential risks of misuse/abuse given the potentially much larger fibromyalgia patient base (vs. the current niche narcolepsy indication). Jazz has the advantage of having data from 8 years of experience with Xyrem in narcolepsy under the existing austere REMS program. Post-marketing reported AE's are low and benign, and the current REMS has yielded impressive results. A Jazz sponsored peer-reviewed study (data through Mar'08) showed that of ~26,000 treated patients worldwide and ~600,000 bottles shipped, there
were only 5 cases of diversion and a combined 47 cases (<0.2%) of either accidents, abuse/dependence, overdose, etc. Ultimately, the outcome may boil down to the composition of the panel. If it's loaded with safety folks that don't understand fibro, it could be tough, but assuming a balanced review we see 65% chance of a
positive result (stock upside to $13) and 35% chance of negative result (downside to $7)."

I am in Jazz and planning to get out next week before the panel. Good luck to everyone..

[Lucifer]

Looks like JAZZ money is rotating to CPIX, interesting...
Kept - JAZZ Sept $12.50 Calls
Opened - JAZZ Sept $7.5 Puts
Closed - JAZZ Aug $10 Calls
Okay the stage is set for the panel, let the music begin!

Also it Looks like there are some weak hands holding ARNA...excellent!
Have a great Friday the 13th everyone, L.

[globalequitygroup]

Arena

Good Read.

GEG.