Jazz Pharmaceuticals bids for Chimerix in $935m deal
Jazz Pharmaceuticals has announced a definitive agreement to acquire Chimerix, a US-based biotech firm, for approximately $935m in cash.
The deal, disclosed on Wednesday 5 March, will see Jazz pay $8.55 per share, representing a 72.4% premium to Chimerix's 4 March closing price of $4.96. Both companies have approved the transaction, which is expected to close in Q2 2025. Chimerix's shares were up 69% when the markets opened, approaching Jazz's offer price.
The acquisition will give Jazz access to Chimerix's lead investigational candidate dordaviprone, which is under review by the US Food and Drug Administration (FDA) for the treatment of recurrent H3 K27M-mutant diffuse glioma, a rare and aggressive brain tumour that primarily affects children and young adults. Currently, there are no FDA-approved therapies for this condition, and patients typically face a poor prognosis with limited treatment options beyond radiotherapy and palliative care.
The FDA is expected to issue a decision on dordaviprone by 18 August 2025. The drug is also being evaluated in the Phase III ACTION trial (NCT05580562), which has enrolled newly diagnosed patients with non-recurrent H3 K27M-mutant diffuse glioma following radiation treatment. If the trial proves successful, dordaviprone could be used as a front-line therapy.
Dordaviprone is designed to activate stress responses in cancer cells, pushing them into apoptosis by acting on the mitochondrial protease ClpP and dopamine receptor D2 (DRD2). According to GlobalData's Pharma Intelligence Center, dordaviprone is forecast to generate up to $385m in global sales by 2030.
GlobalData is the parent company of Pharmaceutical Technology.
The acquisition of Chimerix follows Jazz's November 2024 FDA approval of Ziihera (zanidatamab), a HER2-directed bispecific antibody for biliary tract cancer. Jazz has also been developing Ziihera for HER2-positive breast and gastric cancers. In 2021, the company acquired GW Pharmaceuticals for $7.2bn, gaining the seizure medication Epidiolex (cannabidiol). In February 2024, it licensed a KRAS inhibitor programme from UK-based Redx Pharma in a deal worth up to $880m.
Chimerix originally acquired dordaviprone in 2021 through its purchase of Oncoceutics, in a deal that could be worth over $400m if all milestones are met. If ONC201 receives FDA approval, Chimerix could be eligible for a priority review voucher, a programme designed to incentivise drug development for rare paediatric diseases.
In the announcement accompanying the deal, Jazz stated that dordaviprone has patent protection extending to 2037. 'If approved, dordaviprone has the potential to rapidly become a standard of care for a rare oncology disease and also contribute durable revenue beginning in the near-term,' added Jazz's CEO Bruce Cozadd.
The acquisition follows a broader trend of significant M&A activity in the pharmaceutical sector since the start of 2025, with major deals from companies such as Johnson & Johnson, Eli Lilly, and GSK, each valued at over $1bn.
"Jazz Pharmaceuticals bids for Chimerix in $935m deal" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time Business News
29 minutes ago
- Time Business News
The Financial Backbone of Startups: Why Austin Entrepreneurs Need Professional CPA and CFO Support
Austin, Texas, continues to attract some of the most innovative minds and fastest-growing startups in the country. From tech ventures to local service-based businesses, the entrepreneurial spirit is thriving. Yet for all the excitement and energy, one challenge keeps tripping up promising ventures: financial mismanagement. Many entrepreneurs focus on product development, customer acquisition, and branding—leaving accounting, forecasting, and compliance as afterthoughts. But in a city where competition is fierce and investors are selective, overlooking your financial health can cost you growth—or even your business. The startup journey often comes with: Inconsistent revenue Unclear cash flow Poorly tracked expenses Tax surprises Missed funding opportunities Founders are typically visionaries, not financial experts. As a result, many operate their businesses using spreadsheets, gut instincts, or outdated accounting software. These approaches might work in the first few months—but not when you're scaling, hiring, or seeking capital. Before you bring in CFO-level leadership or consult with CPA firms, your first step should be hiring a small business accountant in Austin. Bookkeeping : Maintain organized and accurate records of all transactions. : Maintain organized and accurate records of all transactions. Payroll : Process employee payments and ensure tax withholdings are accurate. : Process employee payments and ensure tax withholdings are accurate. Monthly Statements : Help you understand profits, losses, and where your money goes. : Help you understand profits, losses, and where your money goes. Quarterly Taxes: Keep your business compliant and avoid IRS penalties. Because they're local, an Austin-based accountant understands Texas tax rules, franchise tax obligations, and local filing deadlines better than a remote service. Bonus: Many small business accountants now use cloud-based software, giving you 24/7 visibility into your finances and eliminating guesswork. Once you're generating consistent revenue or considering scaling, a small business accountant might not be enough. This is where CFO service in Austin TX comes in. A Chief Financial Officer (CFO) isn't just a number cruncher. They're a financial strategist who provides leadership on: Cash flow forecasting Financial modeling and budgeting Investor readiness Loan or funding management Expense optimization KPI tracking and performance evaluation By hiring outsourced CFO services in Austin, startups get executive-level financial support without paying full-time executive salaries. It's a powerful way to gain expert insight while staying lean. Here are some real-world examples of how CFO support makes a difference: A CFO helps you assess whether you can truly afford to expand your team or open a new office—or if waiting 6 months would save you from cash flow trouble. Without knowing your margins, it's easy to undercharge. A CFO will analyze your costs and recommend a sustainable pricing structure. If your books are messy, or your pitch deck lacks solid financials, investors will walk away. A CFO ensures you're always 'investor-ready.' By working closely with your accountant and eventually a CPA firm, a CFO keeps you organized year-round so you're not scrambling when April rolls around. Austin isn't just any city—it's a tech hub, creative powerhouse, and magnet for venture capital. When you partner with local financial professionals, you gain access to: Regional insights on Texas tax law and local compliance. on Texas tax law and local compliance. Networks that include bankers, investors, and startup mentors. that include bankers, investors, and startup mentors. Personalized service from people who understand your business context. Unlike generic national services, local financial professionals understand the Austin startup scene and can offer advice grounded in real-world experience. As your startup matures, your needs will expand beyond bookkeeping and strategy. You'll require compliance, audit prep, advanced tax strategy, and possibly even exit planning. That's where CPA firms in Austin play a critical role. Tax filing and planning (local, state, federal) (local, state, federal) Audit preparation and representation Business incorporation advice Entity restructuring for tax savings Compliance with industry-specific regulations Valuation support for mergers or acquisitions CPA firms don't just look backward at your finances—they help you plan for future moves and long-term goals. Stage of Business Financial Support Needed Pre-launch/Prototype Small business accountant Post-revenue (>$100K) Add CFO service Austin TX Scaling (>$500K+) Add CPA firms in Austin Hiring early doesn't mean overextending—it means preparing for growth from day one. Today's financial experts—especially in tech-forward Austin—rely on digital tools to streamline operations. From cloud-based bookkeeping to real-time dashboards, the best financial partners will integrate with your systems like: QuickBooks Online Xero Gusto (for payroll) Expensify Fathom or Spotlight for reporting By leveraging these platforms, you get real-time financial visibility that informs better business decisions. Whether you're considering a small business accountant, CFO service, or CPA firm, ask: What industries do you specialize in? Do you understand the startup and venture-backed landscape? How do you communicate and deliver reports? What's your fee structure? Do you offer scalable services as we grow? Can you collaborate with our other partners (legal, banking, etc.)? Your financial team should feel like an extension of your startup—not just a service provider. Building a startup is hard enough. Don't let poor financial decisions be the reason you fail. By working with a reliable small business accountant in Austin, engaging strategic CFO service in Austin TX, and eventually partnering with experienced CPA firms in Austin, you're putting the right financial backbone in place to support your growth, funding goals, and long-term success. Whether you're preparing for your next funding round, trying to control runaway costs, or aiming for a clean exit—having trusted financial leadership will guide every decision with clarity and confidence. TIME BUSINESS NEWS
Yahoo
32 minutes ago
- Yahoo
US Trade Team Said to Extend India Stay as Talks Gather Momentum
(Bloomberg) -- Supply Lines is a daily newsletter that tracks global trade. Sign up here. Next Stop: Rancho Cucamonga! Where Public Transit Systems Are Bouncing Back Around the World ICE Moves to DNA-Test Families Targeted for Deportation with New Contract US Housing Agency Vulnerable to Fraud After DOGE Cuts, Documents Warn Trump Said He Fired the National Portrait Gallery Director. She's Still There. A US trade team that's currently in India for negotiations has extended its stay, according to people familiar with the matter, in a sign talks are progressing ahead of a July deadline. The team, which was initially scheduled to hold talks with Indian officials on June 5-6, will now be staying till Tuesday to continue discussions, the people said, asking not to be identified because the information isn't public. Most of the issues may get finalized within a week, the people estimated. India and the US are working on a phased trade deal with an early agreement targeted for July, the deadline for implementation of the so-called reciprocal tariffs. At the same time, those tariffs are facing legal challenges in Washington. India's Commerce Ministry and the US Trade Representative's office in Washington didn't respond to email requests for comment outside of regular business hours. Local Indian media earlier reported the extension of the visit. Indian Commerce Minister Piyush Goyal described his meeting with US counterpart Howard Lutnick during a visit to the US in May as 'constructive.' Earlier this month, Lutnick said he's 'very optimistic' about prospects for a trade deal between the US and India 'in the not-too-distant future.' India was one of the first countries to begin negotiating a trade deal with the US, hoping to avert President Donald Trump's reciprocal tariffs, which are scheduled to kick in on July 9. --With assistance from P R Sanjai. Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling Is Elon Musk's Political Capital Spent? What Does Musk-Trump Split Mean for a 'Big, Beautiful Bill'? Cuts to US Aid Imperil the World's Largest HIV Treatment Program ©2025 Bloomberg L.P.
Indianapolis Star
an hour ago
- Indianapolis Star
FDA: More cucumbers, ready-to-eat products recalled in growing salmonella outbreak
A Maryland food company has recalled specific salsa and cucumber products because they were made with cucumbers that are possibly contaminated with salmonella. TGD Cuts, LLC of Jessup, Maryland, is recalling some tub and tray products because they contained cucumbers from Boynton Beach, Florida-based Bedner Growers Inc., which have been linked to a salmonella outbreak. TGD Cuts distributed the affected products, which included salsas, sliced cucumbers and cucumber spears, to retail and foodservice locations in Maryland, Virginia, Pennsylvania, New Jersey, and North Carolina, according to the Food and Drug Administration (FDA). The products had use-by dates ranging from May 20 to May 28 and are unlikely to be in stores or being used. No illnesses have been reported in connection with the products, the FDA said. Egg recall: Brown eggs sold at some Walmart stores have salmonella risk The initial May 19 recall involved cucumbers sold directly to consumers at Bednar's Farm Fresh Market, according to notices published May 19 by the Centers for Disease Control and Prevention (CDC) and the FDA. Subsequent recalls have been announced by grocers such as Harris Teeter, Kroger and Walmart for repackaged cucumbers for resale under different brand names or those used in ready-to-eat products, including vegetable trays and salads. The cucumbers, distributed by Fresh Start Produce Sales of Delray, Florida, also led to Target recalling individual cucumbers on May 30, specifically cucumber two-packs and various prepared foods products. In addition to the growing cucumber-related recall, other products have been recalled recently for potential salmonella contamination. The FDA on May 28 upgraded a recall of tomatoes distributed in three southern states to a Class I recall, meaning consumption of the food could cause serious health complications or lead to death. Then, on June 6, the CDC and FDA linked brown eggs sold in nine states – including at some Walmart stores – to an ongoing Salmonella Enteritidis outbreak, in which 79 people have been sickened and at least 21 hospitalized. Customers who purchased any products from TGD Cuts should get rid of them or return them for a full refund. Here is the list of products recalled due to a possible salmonella risk. Salmonella poisoning causes about 1.35 million illnesses, 26,500 hospitalizations, and 420 deaths each year in the U.S., according to the CDC and FDA. Symptoms, which include diarrhea, fever and stomach cramps, will usually occur six hours to six days after exposure and may last up to seven days. Symptoms from severe infections may include aches, headaches, elevated fever, lethargy, rashes, and blood in urine or stool. Mike Snider is a reporter on USA TODAY's Trending team. You can follow him on Threads, Bluesky, X and email him at mikegsnider & @ & @mikesnider & msnider@
