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Jazz Pharmaceuticals

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Jazz Pharmaceuticals plc
Company typePublic
Industry
PredecessorJazz Pharmaceuticals, Inc. (before the 2012 tax inversion to Ireland)
Founded2003; 21 years ago (2003) in California, U.S.
HeadquartersDublin, Ireland
Area served
Worldwide
Key people
Bruce C. Cozadd (chairman and CEO)
ProductsPharmaceutical drugs
Brands
RevenueIncrease US$3.83 billion (2023)
Increase US$579 million (2023)
Increase US$415 million (2023)
Total assetsIncrease US$11.4 billion (2023)
Total equityIncrease US$3.74 billion (2023)
Number of employees
c. 2,800 (2023)
Websitejazzpharma.com
Footnotes / references
[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.[1] 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

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2010–2019

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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

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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] Jazz Pharmaceuticals acquired GW Pharmaceuticals's cannabis business in the acquisition.[22]

Acquisition history

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

References

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  1. ^ a b "Jazz Pharmaceuticals PLC 2023 Annual Report (Form 10-K)". sec.gov. U.S. Securities and Exchange Commission. 28 February 2024. Retrieved 28 February 2024.
  2. ^ "History". Jazz Pharmaceuticals. Archived from the original on 23 November 2016. Retrieved 22 November 2016.
  3. ^ "Axsome To Buy Sunosi From Jazz". NASDAQ. Retrieved 28 March 2022.
  4. ^ "Jazz Pharmaceuticals, Inc. Agrees to Pay $20 Million to Resolve Criminal and Civil Allegations in "Off-label" Marketing Investigation". Archived from the original on 2021-07-20. Retrieved 2016-06-08.
  5. ^ "Teva wins controversial PhRMA bid despite protests from branded rivals". 18 July 2016. Archived from the original on 19 July 2016. Retrieved 18 July 2016.
  6. ^ "FDA accepts NDA for JZP-6, a treatment for fibromyalgia". empr.com. 2010-02-19.
  7. ^ "Jazz Pharmaceuticals - Investor & Media - Press Release". jazzpharma.com.
  8. ^ "Jazz Pharmaceuticals Inc and Azur Pharma to combine". manufacturingchemist.com. 2011-09-20.
  9. ^ Hancock, Ciaran (2011-09-21). "Azur to merge with US pharma firm in $500m deal". manufacturingchemist.com.
  10. ^ Armstrong, Mike (2012-04-27). "Jazz Pharmaceuticals to buy Langhorne's Eusa". The Philadelphia Inquirer. Retrieved 2022-05-20.
  11. ^ "Meda buys women's health unit of Jazz Pharma". pharmatimes.com. 2012-09-07. Retrieved 2022-05-20.
  12. ^ "Jazz Initiates Erwinaze Trial - Zacks Equity Research". yahoo.com. 2012-12-05. Retrieved 2022-05-20.
  13. ^ Armstrong, Drew (December 19, 2013). "Jazz to Buy Gentium for $1 Billion for Rare-Disease Drugs". Bloomberg News. Archived from the original on 2015-01-12. Retrieved 2017-03-08.
  14. ^ "Jazz Pharma Acquiring Gentium for $1B" (paper). Gen. Eng. Biotechnol. News. 34 (2): 10. January 15, 2014.
  15. ^ "Alizé Pharma II Acquired by Jazz Pharmaceuticals for Up to $20.5M - GEN News Highlights - GEN".
  16. ^ "Jazz Pharmaceuticals to Acquire Celator for $1.5B - GEN News Highlights - GEN". 31 May 2016. Archived from the original on 1 June 2016. Retrieved 31 May 2016.
  17. ^ "Vyxeos (cytarabine and daunorubicin) FDA Approval History". Drugs.com. Archived from the original on 2019-04-11. Retrieved 2018-12-30.
  18. ^ "Jazz Pharmaceuticals Announces Acquisition of Cavion, Inc". 12 August 2019. Archived from the original on 2022-03-05. Retrieved 2019-08-18.
  19. ^ "Jazz Pharmaceuticals Announces Acquisition of Cavion, Inc. | Jazz Pharmaceuticals PLC". Archived from the original on 2019-08-18. Retrieved 2019-08-18.
  20. ^ "Jazz Pharmaceuticals to Acquire GW Pharmaceuticals PLC, Creating an Innovative, High-Growth, Global Biopharma Leader". Archived from the original on 2022-03-05. Retrieved 2021-02-03.
  21. ^ "Jazz Pharma to buy GW Pharma for $7.2 billion, adding cannabis-based drug to portfolio". Reuters. 3 February 2021. Archived from the original on 3 February 2021. Retrieved 3 February 2021.
  22. ^ https://www.fiercepharma.com/pharma/jazz-and-gw-pharma-grow-cannabinoid-manufacturing-ambitions-new-100m-plant
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