Jazz Pharmaceuticals Explained

Jazz Pharmaceuticals plc
Type:Public
Founded: in California, U.S.
Location:Dublin, Ireland
Area Served:Worldwide
Predecessor:Jazz Pharmaceuticals, Inc. (before the 2012 tax inversion to Ireland)
Key People:Bruce C. Cozadd (chairman and CEO)
Products:Pharmaceutical drugs
Revenue: (2023)
Operating Income: (2023)
Net Income: (2023)
Assets: (2023)
Equity: (2023)
Num Employees: (2023)
Footnotes:[1]

Jazz Pharmaceuticals plc (a merger of Jazz Pharmaceuticals, Inc. and Azur Pharma plc) is a global biopharmaceutical company with a focus on oncology and neuroscience. It was founded in 2003 in California, United States.[2] One of the company's considerable products is the United States Food and Drug Administration (FDA) approved drug Xyrem (sodium oxybate), the sodium salt of the naturally occurring neurotransmitter γ-Hydroxybutyric acid (GHB). In 2017, net product sales of Xyrem were $1.187 billion, which represented 74% of the company's total net product sales. In 2019, Jazz was granted FDA-approval to market Sunosi with indications for treating excessive daytime sleepiness (EDS) in narcolepsy as well as obstructive sleep apnea (OSA). In 2022, it was announced that Axsome Therapeutics would be acquiring Sunosi from Jazz Pharmaceuticals.[3]

In 2007, the company pled guilty to felony charges related to its illegal marketing of Xyrem for off-label use.[4]

The company is also a member of the Pharmaceutical Research and Manufacturers of America (PhRMA).[5]

Company history and acquisitions

2010–2019

On 18 February 2010, the FDA accepted a new drug application for JZP-6 (Sodium oxybate) for the treatment of Fibromyalgia.[6] In the following December, a new patent was issued for Sodium Oxybate.[7]

On September 19, 2011, Jazz Pharmaceuticals merged with Irish Azur Pharma plc to form Jazz Pharmaceuticals plc. The Azur Pharma seat in Dublin became the headquarters of the combined company. Azur Pharma had been marketing specialty pharmaceutical products in the central nervous system (CNS) and women's health areas with US operations in Philadelphia.[8] [9]

On 26 April 2012, the company acquired EUSA Pharma for $650 million (plus $50 million in milestone payments).[10] In September, the company sold its Women's Health business to Meda for $95 million.[11] In December, the company began clinical trial of intravenous Erwinaze in patients with Acute Lymphoblastic Leukemia.[12]

In January 2014, the company announced it would acquire the rare disease drug developer Gentium SpA and its lead product Defitelio for $1 billion.[13] [14]

In May 2016, the company announced it would acquire Alizé Pharma II for $20.5 million.[15] At the end of the same month, the company announced its largest acquisition to date, with the purchase of Celator Pharmaceuticals for $1.5 billion.[16] As a result, Jazz obtained the rights to breakthrough therapy Vyxeos (liposomal daunorubicin and cytarabine) for treatment of acute myeloid leukemia.[17]

In August 2019, the company announced it would acquire Cavion Inc. for up to $310 million.[18] [19]

2020–present

In January 2021, Jazz announced it would acquire GW Pharmaceuticals for US$7.2 billion at $220 per ADR - $200.00 in cash and $20.00 in shares of Jazz.[20] [21]

Acquisition history

The following is an illustration of the company's mergers, acquisitions, spin-offs and historical predecessors:

Notes and References

  1. Web site: Jazz Pharmaceuticals PLC 2023 Annual Report (Form 10-K) . 28 February 2024 . . sec.gov . 28 February 2024.
  2. Web site: History . Jazz Pharmaceuticals . 22 November 2016 . 23 November 2016 . https://web.archive.org/web/20161123201001/https://www.jazzpharma.com/about/history/ . live .
  3. Web site: Axsome To Buy Sunosi From Jazz . . 28 March 2022.
  4. Web site: Jazz Pharmaceuticals, Inc. Agrees to Pay $20 Million to Resolve Criminal and Civil Allegations in "Off-label" Marketing Investigation. 2016-06-08. 2021-07-20. https://web.archive.org/web/20210720065913/https://www.justice.gov/archive/usao/nye/pr/2007/2007jul13a.html. live.
  5. Web site: Teva wins controversial PhRMA bid despite protests from branded rivals. 18 July 2016. 18 July 2016. 19 July 2016. https://web.archive.org/web/20160719133214/http://www.fiercepharma.com/pharma/teva-wins-controversial-phrma-bid-despite-protests-from-branded-rivals. live.
  6. Web site: FDA accepts NDA for JZP-6, a treatment for fibromyalgia. empr.com. 2010-02-19.
  7. Web site: Jazz Pharmaceuticals - Investor & Media - Press Release. jazzpharma.com.
  8. Web site: Jazz Pharmaceuticals Inc and Azur Pharma to combine. manufacturingchemist.com. 2011-09-20.
  9. Web site: Azur to merge with US pharma firm in $500m deal. manufacturingchemist.com. 2011-09-21. Hancock. Ciaran.
  10. Web site: Jazz Pharmaceuticals to buy Langhorne's Eusa. The Philadelphia Inquirer. Armstrong. Mike. 2012-04-27. 2022-05-20.
  11. Web site: Meda buys women's health unit of Jazz Pharma. pharmatimes.com. 2012-09-07. 2022-05-20.
  12. Web site: Jazz Initiates Erwinaze Trial - Zacks Equity Research. yahoo.com. 2012-12-05. 2022-05-20.
  13. News: Jazz to Buy Gentium for $1 Billion for Rare-Disease Drugs . December 19, 2013 . Armstrong, Drew . . 2017-03-08 . 2015-01-12 . https://web.archive.org/web/20150112080321/http://www.bloomberg.com/news/2013-12-19/jazz-to-buy-gentium-for-1-billion-for-rare-disease-drugs.html . live .
  14. Jazz Pharma Acquiring Gentium for $1B . . 10 . . January 15, 2014 . paper . 34 . 2 .
  15. Web site: Alizé Pharma II Acquired by Jazz Pharmaceuticals for Up to $20.5M - GEN News Highlights - GEN.
  16. Web site: Jazz Pharmaceuticals to Acquire Celator for $1.5B - GEN News Highlights - GEN. 31 May 2016. 31 May 2016. 1 June 2016. https://web.archive.org/web/20160601132932/http://www.genengnews.com/gen-news-highlights/jazz-pharmaceuticals-to-acquire-celator-for-1-5b/81252772/. live.
  17. Web site: Vyxeos (cytarabine and daunorubicin) FDA Approval History. Drugs.com. en. 2018-12-30. 2019-04-11. https://web.archive.org/web/20190411070044/https://www.drugs.com/history/vyxeos.html. live.
  18. Web site: Jazz Pharmaceuticals Announces Acquisition of Cavion, Inc. 2019-08-18. 2022-03-05. https://web.archive.org/web/20220305165629/https://www.biospace.com/article/releases/jazz-pharmaceuticals-announces-acquisition-of-cavion-inc-/?s=79. live.
  19. Web site: Jazz Pharmaceuticals Announces Acquisition of Cavion, Inc. | Jazz Pharmaceuticals PLC. 2019-08-18. 2019-08-18. https://web.archive.org/web/20190818093619/https://investor.jazzpharma.com/news-releases/news-release-details/jazz-pharmaceuticals-announces-acquisition-cavion-inc. live.
  20. Web site: Jazz Pharmaceuticals to Acquire GW Pharmaceuticals PLC, Creating an Innovative, High-Growth, Global Biopharma Leader. 2021-02-03. 2022-03-05. https://web.archive.org/web/20220305165707/https://www.biospace.com/article/releases/jazz-pharmaceuticals-to-acquire-gw-pharmaceuticals-plc-creating-an-innovative-high-growth-global-biopharma-leader/?s=79. live.
  21. News: Jazz Pharma to buy GW Pharma for $7.2 billion, adding cannabis-based drug to portfolio. Reuters. 3 February 2021. 3 February 2021. 3 February 2021. https://web.archive.org/web/20210203165003/https://www.reuters.com/article/us-gw-pharma-m-a-jazz-pharms/jazz-pharma-adds-cannabis-based-drug-in-7-2-billion-deal-for-gw-pharma-idUSKBN2A31RM. live.

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