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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Gaining approval for Fintepla in Lennox-Gastaut syndrome, on top of an earlier green light in Dravet, puts the Belgian group in a strong position to compete with Jazz’s Epidiolex.
Zogenix's Fintepla for Dravet syndrome got off to a slow start commercially and investors are hoping that the sales will improve considerably with UCB flexing its marketing muscles in the epilepsy space and growing the product as additional indications are secured.
The company laid out plans at J.P. Morgan to reach revenues of $5bn by 2025, focusing on already marketed products and its pipeline plans.