Ireland's Jazz Pharmaceuticals, which has been buying up some new drug assets, has decided it will spend some money on manufacturing as well. It is building its first manufacturing facility there, adding to a string of plant projects in that country.
As Jazz Pharmaceuticals rolls on with an orphan drug deal spree, shareholders of Gentium, its latest target, are suing to stop the acquisition, saying the Irish company's $1 billion offer is far too low.
Tiny Aerial BioPharma has found a home for its promising narcolepsy treatment, handing the drug over to Jazz Pharmaceuticals for as much as $397 million.
Industry analysts can't help but handicap which drugmakers will be the next target of heated industry M&A interest. So three days into the new year, they are putting their money on Jazz Pharmaceuticals, the Ireland-based company that has itself been in acquisition mode.
Ireland-based biopharma companies are all the rage these days. Blessed by advantageous tax laws, Elan and Warner Chilcott fell to takeover bids. And now that Jazz Pharmaceuticals has been bolstered by the addition of Gentium's rare-disease drug portfolio, it's back on the hit list of most likely takeover targets.
Jazz Pharmaceuticals, the Ireland-based company known for its narcolepsy drug Xyrem, is often the subject of takeover talk. Because of its specialty drug portfolio and low-tax domicile, analysts often see it as a potential target. But the drugmaker has kept up a steady drumbeat of mostly smaller deals itself to expand its line of specialty drugs. Today it jumped the $1 billion deal fence with plans to buy Italy-base, Gentium and get its EU-approved orphan drug Defitelio.
Ireland's Jazz Pharmaceuticals is betting $1 billion that Italian biotech Gentium and its orphan treatment Defitelio can sustain their momentum, buying the company to get its hands on a drug for a rare liver disease.
For some pharma dealmakers, corporate domiciles in Ireland have become hot commodities. The Irish tax code figured prominently in two recent biopharma buyout deals, and, as Bloomberg reports, this makes the biotech group Alkermes and Jazz Pharmaceuticals potential targets.
Analysts at GlobalData took a quarterly snapshot of the R&D expenses for a big batch of mid-cap biotechs and concluded that rising research costs were eroding corporate profitability. And they pinned the blame squarely on the pricey hunt for new cancer drugs.
Jazz Pharmaceuticals has stepped up to grab the worldwide rights to a tweaked version of the narcolepsy drug Xyrem from Lexington, MA-based Concert Pharmaceuticals, a biotech which has been making a splash with its deuterium-modification approach for next-gen therapeutics.