Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Jazz Pharmaceuticals is a biopharmaceutical company based in Ireland that is known for its drug Xyrem, which is approved by the FDA to treat narcolepsy. Jazz Pharmaceuticals and GW Pharmaceuticals plan to get that metric down to 3.5 by 2022. Jazz is incorporated in the Republic of Ireland, with ordinary shares listed on Nasdaq. Jazz Pharmaceuticals Plc JAZZ, -1.19% said Wednesday it has agreed to acquire GW Pharmaceuticals Plc GWPH, +0.03% in a cash-and-stock deal valued at $7.2 billion. The cash portion of the transaction is expected to be funded through a combination of cash on hand and debt. The U.S. medical cannabis industry is estimated to cross $16 billion in annual sales by 2025, according to industry researcher New Frontier Data. Founded in 1998, GW Pharmaceuticals manufactures CBD-based Epidiolex, which is marketed under the name Epidyolex in the EU and Australia. That's $7.2 billion or … Jazz Pharmaceuticals has agreed to buy GW Pharmaceuticals, a British pioneer in cannabis-based medicines, in a $7.2bn cash-and-stock deal that will expand the US drugmaker’s neuroscience portfolio. The deal, which is expected to close in the second quarter, will be accretive in the first full year of combined operations, the companies said. The offer price represents a 50% premium to GW's Tuesday closing price. Jazz will acquire GW for $220.00 per American Depositary Share (ADS), in the form of $200.00 in cash and $20.00 in Jazz ordinary shares. Conference call today at 8:30 AM ET. Jazz Pharmaceuticals is to acquire cannabinoid medicine manufacturer GW Pharmaceuticals for a whopping sum. Jazz Pharmaceuticals and GW Pharmaceuticals plan to get that metric down to 3.5 by 2022. GW Pharmaceuticals, which is based in the United Kingdom, is one of the biggest medical cannabinoid businesses globally. The deal will allow Jazz to move beyond treatments for sleep disorders and cancer by adding GW Pharma's Epidolex, which brought in sales of $132 million in the latest reported quarter. This buy would be the biggest move made by a pharmaceutical … Slaughter and May, working as part of an integrated team with Cravath, Swaine & Moore LLP, is advising GW Pharmaceuticals plc (“GW”) on its recommended acquisition by Jazz Pharmaceuticals plc (“Jazz”). A Division of NBCUniversal. Like GW Pharmaceuticals, [Jazz] is based in Europe, they're based in Ireland. The neuroscience unit is at the heart of Jazz's growth as it generated $456.9 million in the third-quarter sales, contributing a sizeable chunk to the overall sales of about $600 million. Slaughter and May, working as part of an integrated team with Cravath, Swaine & Moore LLP, is advising GW Pharmaceuticals plc (“GW”) on its recommended acquisition by Jazz Pharmaceuticals plc (“Jazz”). The transaction, which has been unanimously approved by the Boards of Directors of […] Jazz Pharmaceuticals (NASDAQ:JAZZ) announced the acquisition of GW Pharmaceuticals (NASDAQ:GWPH) for $220 per share, $200 in cash, and $20 in Jazz stock. The transaction values GW’s entire issued and to be issued share capital at $7.2 billion, and is to be effected by a court-sanctioned scheme of arrangement. Jazz Pharmaceuticals has agreed to acquire GW Pharmaceuticals, maker of the first epilepsy drug derived from marijuana, for $7.2 billion in cash and stock. Founded in 2003, Jazz is a global biopharmaceutical company dedicated to the development and commercialisation of life-changing medicines, with a focus on neuroscience. Jazz Pharmaceuticals plc (Nasdaq: JAZZ) is buying GW Pharmaceuticals plc (Nasdaq: GWPH) in a deal valued at $7.2 billion or $6.7 billion net of GW cash. Jazz Pharmaceuticals said on Wednesday it would buy GW Pharmaceuticals in a $7.2 billion cash-and-stock deal to bolster its neuroscience business by … GW is incorporated in the England, with ADSs (each representing 12 GW ordinary shares) listed on Nasdaq. Epidiolex was the first CBD medicine approved by the USA’s FDA. GW is focused on the discovery and development of therapeutics from its proprietary cannabinoid product platform. Jazz Pharmaceuticals - Get Report has been all over the map on Wednesday following news that it will acquire GW Pharma - Get Report for $7.2 billion. Jazz will acquire GW for $220 per American depositary share - $200 in cash and $20 in Jazz shares. DUBLIN and LONDON, Feb. 3, 2021 /PRNewswire/ — Jazz Pharmaceuticals plc (Nasdaq: JAZZ) and GW Pharmaceuticals plc (Nasdaq: GWPH) today announced the companies have entered into a definitive agreement for Jazz to acquire GW for $220.00 per American Depositary Share (ADS), in the form of $200.00 in cash and $20.00 in Jazz ordinary … Under terms of the agreement, Jazz will pay $220 per American depositary share of GW Pharmaceuticals, consisting of $200 in cash and $20 in Jazz ordinary shares, the … 2 months ago - Zacks Investment Research Jazz Pharmaceuticals (NASDAQ: JAZZ), a global pharmaceutical company, has come to an agreement to acquire GW Pharmaceuticals (NASDAQ: GWPH) for $7.2 billion in stock and cash. We want to hear from you. GW Pharmaceuticals said the cash and stock deal with Jazz Pharmaceuticals - best known for its portfolio of sleep medicines - would create a neuroscience therapy powerhouse. Jazz Pharmaceuticals plc (Nasdaq: JAZZ) and GW Pharmaceuticals plc (Nasdaq: GWPH) today announced the companies have entered into a definitive agreement for Jazz to acquire GW … Jazz Pharmaceuticals said on Wednesday it would buy GW Pharmaceuticals in a $7.2 billion cash-and-stock deal to bolster its neuroscience business by adding cannabis-based epilepsy treatment. DUBLIN and LONDON, Feb. 3, 2021 /PRNewswire/ -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ) and GW Pharmaceuticals plc (Nasdaq: GWPH) today announced the companies have entered into a definitive agreement for Jazz to acquire GW for $220.00 per American Depositary Share (ADS), in the form of $200.00 in cash and $20.00 in Jazz ordinary shares, for a total consideration of $7.2 billion, or … Jazz shares slipped 1.0%. Jazz Pharmaceuticals plc (Nasdaq: JAZZ) and GW Pharmaceuticals plc (Nasdaq: GWPH) today announced the companies have entered into a definitive agreement for Jazz to acquire GW … GW is also currently in phase 3 trials seeking FDA approval for a similar drug, Nabiximols, that treats spasms from conditions like multiple sclerosis and spinal cord injuries. GW shares were hovering around $214 before the bell, while Jazz shares fell 4%. In a blockbuster deal to kick off the 2021 international cannabis M&A season, Jazz Pharmaceuticals has inked a deal to acquire GW Pharmaceuticals, manufacturer of the FDA- and DEA-approved Epidiolex, to the tune of $7.2 billion. Jazz Pharma will be using a mix of cash on hand and debt to finance its acquisition of GW Pharma. All Rights Reserved. (RTTNews) - Ireland-based biopharmaceutical company Jazz Pharmaceuticals plc (JAZZ) has agreed to acquire UK-based GW Pharmaceuticals plc (GWPH, GWP.L) … Global pharma company Jazz Pharmaceuticals has reached an agreement to buy United Kingdom-based GW Pharmaceuticals, one of the largest medical cannabinoid businesses in the world, for $7.2 billion in cash and stock, the drugmakers announced Wednesday. DUBLIN - Jazz Pharmaceuticals plc (Nasdaq: JAZZ) and GW Pharmaceuticals plc (Nasdaq: GWPH) today announced the companies have entered into a definitive agreement for Jazz to acquire GW for $220.00 per American Depositary Share (ADS), in the form of $200.00 in cash and $20.00 in Jazz ordinary shares, for a total consideration of $7.2 billion, or $6.7 billion net of GW cash. Jazz Pharmaceuticals has announced that it will acquire London-headquartered biopharma company GW Pharma for a total consideration of $7.2bn. Jazz Pharmaceuticals plc (NASDAQ: JAZZ) and GW Pharmaceuticals plc (NASDAQ: GWPH) reported entry into a definitive agreement where Jazz will acquire GW … Currently, shares are down about 0.5%. One Bunhill RowLondonEC1Y 8YYUnited Kingdom, 2906-2909 China World Office 2No.1 Jianguomenwai AvenueBeijing 100004China, 47th Floor, Jardine HouseOne Connaught Place, CentralHong KongChina, GW Pharmaceuticals on its recommended cash and share acquisition by Jazz Pharmaceuticals, Sustainability and Climate Change Resources, Modern Slavery – Slavery and Human Trafficking Statement, Go to Financial Regulation Weekly Bulletin, Go to Sustainability and Climate Change Resources. As Bloomberg noted, GW’s stock skyrocketed about 46% Wednesday morning as the headlines hit the wires. Jazz Pharmaceuticals announced its acquisition of GW Pharmaceuticals in a US$7.2 billion deal, subject to regulator and shareholder approval. The news sent U.S.-listed shares of the U.K.-based GW Pharma up 46% in afternoon trading, and helped spark a broad-based rally among cannabis stocks. The deal will see Jazz Pharmaceuticals will gain control of Epidiolex, the cannabis-based medicine used to treat severe types of epilepsy in children. Founded in 1998, GW is a global biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas. The cannabis-based drug was approved in the United States in June 2018 for use in patients aged two years and older with Dravet Syndrome and Lennox-Gastaut Syndrome, rare childhood-onset forms of epilepsy that are among the most resistant to treatment. Get this delivered to your inbox, and more info about our products and services. Jazz Pharmaceuticals Plc has agreed to acquire GW Pharmaceuticals Plc, maker of the first drug derived from the cannabis plant to win approval in the U.S., for $7.2 billion in cash and stock. Got a confidential news tip? © 2021 CNBC LLC. Jazz Pharmaceuticals plc (Nasdaq: JAZZ) and GW Pharmaceuticals plc (Nasdaq: GWPH) today announced the companies have entered into a definitive agreement for Jazz to acquire GW for $220.00 per American Depositary Share (ADS), in the form of $200.00 in cash and $20.00 in Jazz ordinary shares, for a total consideration of $7.2 billion , or $6.7 billion net of GW cash. Sign up for free newsletters and get more CNBC delivered to your inbox. The acquisition is subject to approval by GW’s shareholders and other customary closing conditions, including regulatory approvals, and is expected to close in Q2 2021. Overall, the GW Pharma takeover is not a want, but a need for Jazz Pharmaceuticals. 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