Jazz said to weigh options, including sale, split: report
20 Oct 2023
Acquisition
According to people with knowledge of the situation, Jazz Pharmaceuticals is weighing options, including a potential sale, Bloomberg reported Friday. The sources suggested that the company is also considering the possibility of separating its cannabinoid business from its oncology operations.
Jazz expanded its neuroscience pipeline in 2021 through the $7.2-billion purchase of GW Pharmaceuticals, adding the latter's cannabinoid product platform, including Epidiolex (cannabidiol). The people said that Jazz is speaking with advisers to help field interest, which could come from large drugmakers keen to grow in neuroscience and oncology.
Jazz, which currently has a market value of around $8.3 billion, disclosed last year its target of generating $5 billion in revenue in 2025 and gaining approval of at least five additional novel products by the end of the decade. The company’s sales grew 18% in 2022 to $3.7 billion and are expected to be up to $3.875 billion this year.
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