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Final week, GW Prescription drugs (Nasdaq: GWPH) introduced they’ve entered into an settlement with Jazz Prescription drugs (Nasdaq: JAZZ) for Jazz to accumulate GW Pharma. Each boards of administrators for the 2 firms have authorised the deal they usually count on the acquisition to shut within the second quarter of 2021.
GW Pharma is well-known within the cannabis {industry} as producing the primary and solely FDA-approved drug containing CBD, Epidiolex. Epidiolex is authorised for the remedy of seizures in uncommon ailments like extreme types of epilepsy. GW can also be at the moment in part 3 trials searching for FDA approval for the same drug, Nabiximols, that treats spasms from circumstances like a number of sclerosis and spinal twine accidents.
Jazz Prescription drugs is a biopharmaceutical firm based mostly in Eire that’s identified for its drug Xyrem, which is authorised by the FDA to deal with narcolepsy.
Bruce Cozadd, chairman and CEO of Jazz, says the acquisition will deliver collectively two firms which have a monitor report of creating “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, progressive 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 firms share a imaginative and prescient for creating and commercializing progressive medicines, with a concentrate on neuroscience. “Over the past 20 years, GW has constructed an unparalleled international management place in cannabinoid science, together with the profitable launch of Epidiolex, a breakthrough product throughout the area of epilepsy, and a various and strong neuroscience pipeline,” says Gover. “We consider that Jazz is a perfect progress accomplice that’s dedicated to supporting our business efforts, in addition to ongoing medical and analysis applications.”
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