Jazz Pharmaceuticals Acquires Celator

June 1, 2016

June 01, 2016

On May 31, 2016, Jazz Pharmaceuticals announced that it will acquire Celator Pharmaceuticals, a biopharmaceutical company focused on developing combination therapy for the treatment of cancer. In a press announcement, Jazz says that the companies have entered into a definitive agreement under which Jazz will acquire Celator for $30.25 per share, approximately $1.5 billion.

As part of the transaction, Jazz will acquire Celator’s nano-scale liposomal formulation of cytarabine, Vyxeos, for the treatment of myeloid leukemia. FDA granted the drug Breakthrough Therapy Designation in May 2016. Celator says it plans to submit Vyxeos to FDA for approval later this year.

"Celator Pharmaceuticals is a strong strategic fit with Jazz Pharmaceuticals. Vyxeos will further diversify our product portfolio and is complementary to our clinical and commercial expertise in hematology/oncology," said Bruce Cozadd, chairman and CEO of Jazz Pharmaceuticals. "As Celator is currently preparing a regulatory submission in the US for Vyxeos, this acquisition would add a new orphan product with the potential for short- and long-term revenue generation and expansion of our international commercial platform."

Source: Jazz Pharmaceuticals