Jazz Prescribed drugs to Purchase GW Pharma



Final week, GW Prescribed drugs (Nasdaq: GWPH) introduced they’ve entered into an settlement with Jazz Prescribed drugs (Nasdaq: JAZZ) for Jazz to accumulate GW Pharma. Each boards of administrators for the 2 corporations have permitted the deal and so they anticipate the acquisition to shut within the second quarter of 2021.

GW Pharma is well-known within the hashish {industry} as producing the primary and solely FDA-approved drug containing CBD, Epidiolex. Epidiolex is permitted for the remedy of seizures in uncommon illnesses like extreme types of epilepsy. GW can be at the moment in part 3 trials looking for FDA approval for the same drug, Nabiximols, that treats spasms from situations like a number of sclerosis and spinal twine accidents.

Jazz Prescribed drugs is a biopharmaceutical firm primarily based in Eire that’s identified for its drug Xyrem, which is permitted by the FDA to deal with narcolepsy.

Bruce Cozadd, chairman and CEO of Jazz, says the acquisition will carry collectively two corporations which have a observe file of growing “differentiated therapies,” including to their portfolio of sleep medication and their rising oncology enterprise. “We’re excited so as to add GW’s industry-leading cannabinoid platform, revolutionary pipeline and merchandise, which is able to strengthen and broaden our neuroscience portfolio, additional diversify our income and drive sustainable, long-term worth creation alternatives,” says Cozadd.

Justin Gover, CEO of GW Pharma, says the 2 corporations share a imaginative and prescient for growing and commercializing revolutionary medicines, with a concentrate on neuroscience. “Over the past 20 years, GW has constructed an unparalleled world management place in cannabinoid science, together with the profitable launch of Epidiolex, a breakthrough product inside the discipline of epilepsy, and a various and strong neuroscience pipeline,” says Gover. “We consider that Jazz is a perfect progress companion that’s dedicated to supporting our business efforts, in addition to ongoing scientific and analysis applications.”

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