Under a new agreement,
Upon close of the transaction, the combined company will have a pro-forma pipeline of 19 clinical development programs across neuroscience and oncology, including in sleep, epilepsy, movement disorders, psychiatry, haematology and solid tumours. The combined portfolio will include highly differentiated assets addressing significant unmet patient needs.
GW is a global leader in discovering, developing, manufacturing and commercialising novel, regulatory approved therapeutics from its proprietary cannabinoid product platform to address a broad range of diseases. The company’s lead product, Epidiolex® (cannabidiol) oral solution, is approved by the
In addition, Epidiolex has also been approved by the
The company rapidly scaled Epidiolex, achieving approximately
GW also has a scientific platform and innovative pipeline of cannabinoid product candidates, as well as highly specialised manufacturing expertise, developed over two decades of pioneering and building leadership in cannabinoid science. This pipeline includes nabiximols, currently in Phase III trials for treatment of spasticity associated with multiple sclerosis and spinal cord injury, as well as earlier-stage cannabinoid product candidates for autism and schizophrenia.
“Jazz is proud of our leadership position in sleep medicines and rapidly growing oncology business. We are excited to add GW’s industry-leading cannabinoid platform, innovative pipeline and products, which will strengthen and broaden our neuroscience portfolio, further diversify our revenue and drive sustainable, long-term value creation opportunities,” remarked
The combination is expected to provide double-digit top-line revenue growth and to be accretive from the first full year of combined operations onward.
Transaction terms
Under the terms of the agreement, holders of GW ADSs will be entitled to receive
The number of Jazz ordinary shares to be issued to the holders of GW ADSs will be based on the volume-weighted average price of Jazz’s ordinary shares over a 15-trading day period preceding the closing date of the transaction, subject to limitations on the maximum and minimum number of Jazz ordinary shares issuable per GW ADS. Holders of GW ordinary shares that are not in ADS form will be entitled to receive the foregoing consideration divided by 12 per ordinary share.
The cash portion of the transaction consideration,
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