JAZZ - Jazz Pharmaceuticals to Acquire GW Pharmaceuticals

Jazz Pharmaceuticals plc (NASDAQ: JAZZ) and GW Pharmaceuticals plc (NASDAQ: GWPH) reported entry into a definitive agreement where Jazz will acquire GW for USD 220 per American Depositary Share as USD 200 in cash and USD 20 in Jazz ordinary shares for a total of USD 7.2 Billion or USD 6.7 Billion net of GW cash.  The transaction has been approved by boards of directors of both companies and is expected to close within the second quarter of 2021.  The combined company will lead in neuroscience in commercial and operational impact on a global scale.

“Jazz is proud of our leadership position in sleep medicines and rapidly growing oncology business. 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. “We are joining two teams that share a passion for, and track record of, developing differentiated therapies that advance science and transform the lives of patients. This will help facilitate a successful integration and bring added capabilities to Jazz. Given the strength of our balance sheet and the meaningful financial drivers of the transaction, we are confident in the value we can deliver to both companies’ shareholders and patients. We look forward to welcoming the GW team to Jazz to build an even stronger company.”

“Over the last two decades, GW has built an unparalleled global leadership position in cannabinoid science, including the successful launch of Epidiolex, a breakthrough product within the field of epilepsy, and a diverse and robust neuroscience pipeline. We believe that Jazz is an ideal growth partner that is committed to supporting our commercial efforts, as well as ongoing clinical and research programs,” said Justin Gover, CEO of GW Pharmaceuticals. “We have a shared vision of developing and commercializing innovative medicines that address significant unmet needs in neuroscience and an approach of putting patients first. Together, we will have an opportunity to reach and impact more patients through a broader portfolio of neuroscience-focused therapies than ever before.”

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