Jazz Pharmaceuticals Acquires Cannabinoid-Drug Maker GW Pharmaceuticals For $7.2 Billion

Jazz Pharmaceuticals completed its $7.2 billion acquisition of GW Pharmaceuticals PLC (GW), which develops and commercializes cannabinoid-based prescription medicines. GW’s Epidiolex was first cannabis-derived drug cleared by U.S. Food and Drug Administration (FDA). The medication is used to treat childhood-onset epilepsy; it provides a therapeutic option for refractory seizures.

U.S sales of Epidiolex launched in 2018, and recently launched in Europe under the tradename Epidyolex®. Epidiolex exceeded $500 million in annual net sales in 2020. GW believes Epidiolex has near-term blockbuster potential.

Chris Tovey, chief operating officer of GW since 2012, will . . .