Jazz Pharmaceuticals is always to get medicine that is cannabinoid GW Pharmaceuticals for a whopping sum.
Founded in 1998, GW Pharmaceuticals manufactures CBD-based Epidiolex, which is marketed under the name Epidyolex in the EU and Australia. Epidiolex was the CBD that is first medicine by the USA’s Food And Drug Administration. Epidyolex happens to be authorized within the EU for the treating Lennox‑Gastaut problem and Dravet problem, plus in Australia for the treating seizures connected with LGS or Dravet.
Epidiolex/ Epidyolex has ended up being a cash cow for GW Pharma. Preliminary, unaudited product that is net figures for 2020 released last month indicate Epidiolex raked in approximately USD $510 million for the year compared to an estimated $296 million in 2019.
The company announced yesterday it has entered into a agreement that is definitive Jazz Pharmaceuticals which will see Jazz gain GW Pharma for a complete consideration of $7.2 billion. The deal is anticipated to finalise within the quarter that is second of year. A thumbs-up from the High Court of Justice of England and Wales and other customary closing conditions.
Founded in 2003, Dublin, Ireland-headquartered Jazz Pharmaceuticals says its medicines are available in more than 90 countries while the Boards of Directors of both companies have signed off on the deal, it’s subject to the approval of GW shareholders. Its focus areas are neuroscience, including rest and motion problems, and oncology, including hematologic malignancies and solid tumors. A prescription calcium, magnesium, potassium, and sodium oxybates oral solution used to treat the some of the symptoms associated with narcolepsy.(*)“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 , chairman and CEO of Jazz Pharmaceuticals.(*)Among the projects in GW’s pipeline is nabiximols (Sativex – a cannabis extract containing THC and CBD) for treatment of spasticity associated with MS and spinal cord injury, and preparations containing CBDV (cannabidivarin) and CBD for autism and schizophrenia.(*)Between the two companies is a pro-forma pipeline of 19 clinical development programs across neuroscience and oncology.(* among its medicines is Xywav)