WIKIMEDIA, AFIPDublin, Ireland–based Jazz Pharmaceuticals will purchase Celator Pharmaceuticals, headquartered in New Jersey, for $1.5 billion, Reuters reported. Celator’s investigational new drug called Vyxeos, indicated for the treatment of a rare blood disorder called acute myeloid leukemia (AML), has received orphan-drug status in the U.S. and Europe and in May was named a breakthrough therapy by the US Food and Drug Administration. Late-stage trial results released in March pointed to the treatment’s ability to increase life span in older, high-risk AML patients.
“As Celator is currently preparing a regulatory submission in the U.S. 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,” Jazz Pharmaceuticals Chief Executive Bruce Cozadd said in a statement.
Celator is “a very good strategic fit” for Jazz, Stephen Willey, an analyst with Stifel Nicolaus & Co., wrote in a note to investors, according to Bloomberg.
(Hat tip: GEN)