Chimerix: Jazz Pharmaceuticals Finalizes Acquisition to Enhance Oncology Pipeline
Deal News | Mar 05, 2025 | PR Newswire Cision Jazz Pharmaceuticals plc
Jazz Pharmaceuticals has entered into a definitive agreement to acquire Chimerix for approximately $935 million in cash. This strategic acquisition aims to enhance Jazz's oncology portfolio, particularly with dordaviprone, Chimerix's lead clinical asset, poised to become a standard treatment for H3 K27M-mutant diffuse glioma, a rare brain tumor. This acquisition will bring significant near-term commercial opportunities to Jazz's pipeline, as the U.S. FDA has accepted dordaviprone's New Drug Application for Priority Review, potentially launching later this year. Financial advisories for the deal were provided by Guggenheim Securities for Jazz and Centerview Partners for Chimerix. Legal counsel was provided by Wachtell, Lipton, Rosen & Katz for Jazz and Skadden, Arps, Slate, Meagher & Flom LLP and Cooley LLP for Chimerix. The acquisition is expected to close in the second quarter of 2025, pending customary closing conditions.
Sectors
- Pharmaceuticals and Biotechnology
- Healthcare
Geography
- United States – Chimerix is based in Durham, N.C., and the FDA, a U.S. body, is involved in the drug approval process.
- Ireland – Jazz Pharmaceuticals is headquartered in Dublin, Ireland.
Industry
- Pharmaceuticals and Biotechnology – This industry is relevant as both Jazz Pharmaceuticals and Chimerix are biopharmaceutical companies involved in developing and commercializing therapies for diseases such as cancer.
- Healthcare – The article discusses new medical treatments for serious diseases, which aligns with the healthcare sector's focus on patient care and treatment.
Financials
- $935 million – The total cash consideration for the acquisition of Chimerix by Jazz Pharmaceuticals.
- $8.55 – The cash amount per share offered by Jazz Pharmaceuticals to Chimerix shareholders.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Jazz Pharmaceuticals plc | Acquiring Company | Company | A global biopharmaceutical company focused on innovating to transform lives with treatments for serious diseases. |
| Chimerix | Target Company | Company | A biopharmaceutical company developing medicines for deadly diseases, with dordaviprone in its advanced clinical-stage development program. |
| Bruce Cozadd | Chairman and CEO of Jazz Pharmaceuticals | Person | Leads Jazz Pharmaceuticals, focusing on expanding their oncology pipeline. |
| Mike Andriole | President and CEO of Chimerix | Person | Oversees Chimerix's strategic operations and the agreement with Jazz Pharmaceuticals. |
| Guggenheim Securities | Financial Advisor to Jazz Pharmaceuticals | Company | Provided financial advisory services for Jazz in the acquisition of Chimerix. |
| Wachtell, Lipton, Rosen & Katz | Legal Advisor to Jazz Pharmaceuticals | Company | Provided legal advice to Jazz Pharmaceuticals for the acquisition. |
| Centerview Partners LLC | Financial Advisor to Chimerix | Company | Advised Chimerix on financial matters during the acquisition process. |
| Skadden, Arps, Slate, Meagher & Flom LLP and Cooley LLP | Legal Advisors to Chimerix | Company | Served as legal advisors to Chimerix during the acquisition. |