Dublin, Ireland-based drugmaker Jazz Pharmaceuticals is to acquire London, UK-headquartered GW Pharma for a total consideration of $7.2 billion, securing itself access to the latter’s proprietary cannabinoid product platform.

According to Jazz, upon close of the transaction the combined company will be a leader in neuroscience with a global commercial and operational footprint ‘well positioned to maximise the value of its diversified portfolio’.

GW’s lead product Epidiolex (cannabidiol) is approved for use in patients aged one year and older for the treatment of seizures associated with Lennox-Gastaut Syndrome (LGS), Dravet Syndrome and Tuberous Sclerosis Complex (TSC).

In addition, there are ‘considerable opportunities’ to pursue the drug’s development in other indications within the epilepsy field, including other treatment-resistant epilepsies where significant unmet needs of patients exist.

Further down the pipeline GW’s nabiximols are also attracting attention, particularly a late-stage candidate being positioned for a US application to treat spasticity associated with multiple sclerosis and spinal cord injury, as well as earlier-stage cannabinoid product candidates for autism and schizophrenia.

“We are excited to add GW’s industry-leading cannabinoid platform, innovative pipeline and products, which will strengthen and broaden our neuroscience portfolio, further diversify our revenue and drive sustainable, long-term value creation opportunities,” said Bruce Cozadd, chairman and chief executive officer of Jazz.

“We believe that Jazz is an ideal growth partner that is committed to supporting our commercial efforts, as well as ongoing clinical and research programmes,” added Justin Gover, chief executive officer of GW Pharma.

The transaction, which has been unanimously approved by the Boards of Directors of both companies, is expected to close in the second quarter of 2021.

The Association of the British Pharmaceutical Industry (ABPI) has announced the Board’s unanimous election of Ben Osborn, UK country manager of Pfizer, as its new president.

Ben has over twenty years of experience across a wide range of leadership roles at Pfizer, where he began his career in 1998. Before his appointment as UK country manager in 2018, he held the role of chief marketing officer at Pfizer Innovative Health.

Ben will formally take over the ABPI Presidency from Haseeb Ahmad on May 1.

The NHS is launching a new initiative this April designed to boost the uptake of innovative medical devices, diagnostics and digital products.

The Medtech Funding Mandate will see NHS England and NHS Improvement identify medical technologies deemed by the National Institute for Health and Care Excellence (NICE) to be cost-effective in order to raise awareness of them across the system.

For products to qualify under the Mandate, they must demonstrate that they are effective, deliver material savings to the NHS, are cost saving in-year and are affordable to the NHS.

A list of technologies that meet the MedTech Funding Mandate criteria is expected to be published before the end of July.