Jazz Pharmaceuticals to acquire cannabinoid drug developer for $7.2bn
GW Pharma’s cannabinoid-based medicine is used to treat severe epilepsy and multiple sclerosis, and is a potential treatment for autism and schizophrenia
03 February 2021 - 17:51
New York — Jazz Pharmaceuticals has agreed to acquire GW Pharmaceuticals, a maker of the first drug derived from the cannabis plant to win approval in the US, for $7.2bn in cash and stock.
The price amounts to a premium of about 50% over Cambridge, Britain-based GW’s closing price on Tuesday. GW’s US-traded shares gained as much as 49% in Wednesday trading, and Jazz shares declined 3.7%...
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