Jazz looks at strategic options, including possible sale or unit divestiture: Bloomberg
20 Oct 2023
Acquisition
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Source: FiercePharma
If Jazz does try to sell itself, the deal would require a buyer with a lot of purchasing power.
With a new chief operating officer and an ongoing generics hit to its longtime stalwart Xyrem, Jazz Pharma has been going through some changes this year. Now, the company is said to be looking at possible strategic options.
The drugmaker is in talks with advisors to field interest in a possible sale, people with knowledge of the matter told Bloomberg.
Other potential options include breaking up the business and selling specific assets, according to the report. That might include splitting off its cannabinoid business, which Jazz acquired through its $7.2 billion buyout of GW Pharma in 2021.
The company hasn't made any final decisions, Bloomberg notes. There's the possibility no deal will happen.
Jazz is worth more than $8 billion, so any potential sale would require a buyer with significant purchasing power. Companies with an M&A appetite in neuroscience and oncology might be interested in weighing a buy, according to Bloomberg's sources.
A Jazz spokesperson declined to comment on the matter, saying in an emailed statement that the company “does not comment on market rumors or speculation.”
Meanwhile, after a wave of spinoffs over the last few years, several Big Pharma players have the cash to make a potential deal.
Recent high-profile deals in the industry include Amgen's $28 billion buyout of Horizon and Bristol Myers Squibb's purchase of Mirati for $5.8 billion.
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