am staked in below, that which I had spent sometime to accumulate at snails pace given its complete illiquidity
finance.yahoo.com
should you struggle through the SEC filings secfilings.nasdaq.com
you come to the conclusion that the people now controlling the company are the same that successfully did and exited another mj play
given so, perhaps they get lucky again
cityam.com
Cambridge cannabis pharma GW sold to US rival in landmark $7bn deal
James Warrington
 Jazz will expand its neuroscience division through the addition of GW’s cannabis-based epilepsy treatment (Getty Images)British pharmaceutical firm GW has been sold to US rival Jazz Pharmaceuticals for $7.2bn (£5.3bn), sending shares in the Cambridge-based company soaring.
Jazz will acquire GW for $220 per American depository share, with $200 paid in cash and the remaining $20 in Jazz shares. The price tag of $7.2bn marks a 50 per cent premium on GW’s closing price yesterday.
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Shares in GW, which is listed on the Nasdaq, surged almost 50 per cent following the announcement.
The mixed cash and share deal will see Jazz expand its neuroscience division through the addition of GW’s cannabis-based epilepsy treatment.
The drug, branded Epidolex, brought in sales of $132m in GW’s most recently reported quarter.
Jazz’s neuroscience unit makes up the bulk of its annual revenue of roughly $600m, but its treatments are currently focused on sleep disorders and cancer.
Epidolex was approved in the US in 2018 for use in patients aged two or older with rare childhood-onset forms of epilepsy.
The deal marks the growth of the US medical cannabis industry, which is forecast to reach $16bn in annual sales by 2025, according to research firm New Frontier Data.
“Over the last two decades, GW has built an unparalleled global leadership position in cannabinoid science, including the successful launch of Epidiolex, a breakthrough product within the field of epilepsy, and a diverse and robust neuroscience pipeline,” said GW chief executive Justin Gover.
“We believe that Jazz is an ideal growth partner that is committed to supporting our commercial efforts, as well as ongoing clinical and research programs.”
Dan Ahrens, chief operating officer and portfolio manager at AdvisorShares, which manages the Pure Cannabis ETF, said: “We’re surprised at the news… but not at all surprised by opportunity or the price.”
“Today could be a notable turning point as a more traditional pharma company has agreed to purchase GW Pharma,” said Nawan Butt, portfolio manager of the Medical Cannabis and Wellness UCITS ETF
But the deal is likely to come under close scrutiny from regulators amid concerns about the sale of strategic UK assets to foreign buyers.
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The $40bn sale of British chipmaker Arm to US rival Nvidia last year sparked a backlash as critics warned the UK was “selling off its crown jewels”.
The sale of GW is subject to sanction by the High Court as well as regulatory approvals. If approved, it is expected to complete in the second quarter of 2021. |
