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IDEAYA Biosciences (NASDAQ: IDYA) has appointed Douglas B. Snyder as Senior Vice President and General Counsel, effective September 18, 2024. Snyder brings over 25 years of legal experience in healthcare, including roles at GW Pharmaceuticals, Actelion Pharmaceuticals, Eisai, GSK, and the FDA. His extensive commercial and international experience positions him well to lead IDEAYA's legal functions as the company prepares for potential commercialization of Darovasertib and expands its clinical pipeline efforts, including in MTAP-deletion.
Snyder's most recent role was Executive VP, Chief Legal Officer, and Secretary at GW Pharmaceuticals from 2017 to 2022, overseeing its $7.2 billion acquisition by Jazz Pharmaceuticals. He holds a J.D. from the Catholic University of America and a B.A. from Dickinson College.
Jazz Pharmaceuticals has successfully completed its acquisition of GW Pharmaceuticals, enhancing its portfolio with cannabinoid-based medicines, including Epidiolex, which had over $500 million in sales in 2020. The deal is expected to accelerate top-line revenue growth and add substantial value for shareholders. The combined entity will address significant unmet medical needs in neuroscience and oncology. Jazz anticipates providing 2021 financial guidance for the integrated organization shortly.
GW Pharmaceuticals has been awarded the Queen’s Award for Enterprise 2021 in the Innovation category for its pioneering efforts in creating the world's first regulatory-approved cannabis-based medicines. Established in 1998, GW has invested over £1.3 billion in R&D and employs over 1,100 globally. The award acknowledges GW's leadership in cannabinoid science and its role in navigating the regulatory landscape to benefit patients. This recognition highlights GW's impact on the pharmaceutical industry and its dedication to improving the lives of patients.
On April 23, 2021, GW Pharmaceuticals shareholders approved the acquisition by Jazz Pharmaceuticals. All necessary shareholder and regulatory approvals have been secured, with completion pending judicial sanction from the High Court of Justice in England, scheduled for May 5, 2021. GW focuses on cannabinoid-based therapies like EPIDIOLEX, while Jazz specializes in life-changing medicines across various therapeutic areas. The acquisition aims to leverage synergies between both companies to enhance their market position and product offerings.
GW Pharmaceuticals has received European Commission approval for EPIDYOLEX® (cannabidiol) as an adjunctive treatment for seizures associated with Tuberous Sclerosis Complex (TSC) in patients ages two and older. This marks the third indication for the drug in Europe. The approval follows a successful Phase 3 study showing a 49% seizure reduction in patients using cannabidiol compared to 27% with placebo. TSC causes epilepsy in up to 85% of patients, and many are resistant to conventional treatments, highlighting the importance of this approval for patient care.
GW Pharmaceuticals plc (Nasdaq: GWPH) announced its participation in the American Academy of Neurology Annual Meeting from April 17-22, 2021, focusing on EPIDIOLEX and nabiximols findings. Presentations emphasize EPIDIOLEX efficacy in treating tuberous sclerosis complex (TSC) and other resistant epilepsies, alongside data on nabiximols for spasticity in multiple sclerosis. The company aims to support the FDA approval process for its cannabinoid-based medicines, showcasing ongoing clinical trials and new survey insights on cannabis use in MS patients.
GW Pharmaceuticals announces a positive opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use regarding EPIDYOLEX® as a treatment for seizures associated with Tuberous Sclerosis Complex (TSC). If approved by the European Commission, this will expand the drug's indication in Europe, making it the third licensed use of EPIDYOLEX. The application is supported by clinical data showing a significant reduction in seizure frequency among patients. The European Commission's decision is expected within two months.
GW Pharmaceuticals reported total revenue of $148.2 million for Q4 2020 and $527.2 million for the full year, with Epidiolex sales reaching $144.1 million in Q4 and $510.5 million for the year. The company anticipates closing its acquisition by Jazz Pharmaceuticals in Q2 2021. Despite a net loss of $29.1 million in Q4, sales increased by over 70% for Epidiolex during 2020. The company is advancing clinical trials for nabiximols and other pipeline candidates, aiming to enhance its market position.
Jazz Pharmaceuticals has announced a $7.2 billion acquisition of GW Pharmaceuticals, valuing the company at $220 per American Depositary Share. The deal includes $200 in cash and $20 in Jazz shares, representing a premium of 50% over GW's recent stock price. Expected to close in Q2 2021, this acquisition aims to enhance Jazz's neuroscience portfolio with GW's lead product, Epidiolex, a treatment for severe epilepsy. The combined entity is projected to accelerate revenue growth, driven by a robust pipeline of 19 clinical programs focused on critical unmet patient needs.
GW Pharmaceuticals plc reported preliminary net product sales of approximately $148 million for Q4 2020, totaling around $526 million for the entire year. Sales of Epidiolex reached $144 million in Q4, up significantly from $296 million in 2019. The company highlighted a nearly 70% increase in Epidiolex sales during 2020, driven by the product’s positive patient impact and expanded payer coverage. Key future priorities include further Epidiolex growth and advancing clinical trials for nabiximols in multiple sclerosis spasticity.
