Jazz Buys the UK’s GW Pharma
Ireland-based multinational drug company Jazz Pharmaceuticals is to buy UK biopharma GW Pharma for $7.2 billion, creating a leader in neuroscience. The boards of directors of both companies have unanimously approved the deal, which is expected to close in the second quarter, subject to customary conditions and regulatory approvals.
London-headquartered GW Pharma is focused on discovering and developing novel therapeutics for a broad range of diseases from its proprietary cannabinoid platform. Its lead product is Epidiolex oral solution, which is approved in patients aged one year and older for treating seizures associated with Lennox-Gastaut Syndrome (LGS), Dravet syndrome and Tuberous Sclerosis Complex (TSC) – all rare diseases characterized by early onset epilepsy.
Epidiolex was the first plant-derived cannabinoid treatment approved by the US Food and Drug Administration (FDA). It is also approved as Epidyolex by the European Medicines Agency (EMA) for patients aged two years and older for the adjunctive treatment of seizures associated with LGS and Dravet syndrome in conjunction with clobazam. The EMA is currently reviewing Epidyolex for treating seizures associated with TSC.
In addition to Epidiolex, GW has a pipeline of cannabinoid product candidates that includes nabiximols, currently in Phase 3 trials for the treatment of spasticity associated with multiple sclerosis and spinal cord injury, along with earlier-stage candidates for autism and schizophrenia.
"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," said Bruce Cozadd, Jazz Pharmaceuticals chairman and CEO.
According to Jazz, Epidiolex has near term blockbuster potential. It said GW had rapidly scaled Epidiolex, achieving annual sales of approximately $510 million within two years of launch, as well as broad access with more than 97% of US lives covered.
Author: Ellaine Burridge, Freelance Journalist
