Jazz Wades Into Cannabinoid Weeds With $7.2bn GW Buy
Epilepsy Drug Epidiolex Adds To Sleep, Oncology Franchises
Priced at a 50% premium to GW’s value, the deal will reduce the percentage of Jazz’s drug sales coming from Xyrem, provide double-digit revenue growth and expand the R&D pipeline to 19 programs.
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The Cambridge, MA-based biotech has one blockbuster-tipped drug already on the market, with another in pivotal studies.
BioMed X teams with J&J on inflammation, drug delivery research. Stem cell firm Calidi inks licensing deals with U. of Chicago, City of Hope and Northwestern. MD Anderson teams with Blueprint and Hummingbird.
Following last year’s approval in cataplexy for the Xyrem follow-on, Jazz could realize additional revenue of up to $500m annually with the first and only approval in IH, analysts say.