BIA reacts to largest acquisition of a UK biotech company on record as Jazz Pharmaceuticals purchases GW Pharma for $7billion

Reacting to news that GW Pharma will be acquired by Jazz Pharmaceuticals for $7billion, Steve Bates OBE, Chief Executive of the BioIndustry Association said:

“GW Pharma is a great example of a fantastic UK life sciences business that British entrepreneurs have built in our ecosystem. Over the last two decades they have pioneered Cannabinoid research and product development for the world and has today been acquired by Jazz Pharmaceuticals for over $7billion.  

“I’m particularly delighted to see the commitment to the merged company having 'a significant presence in the United Kingdom, which is expected to remain an important part of the combined enterprise'.”

Data published yesterday by the UK BioIndustry Association (BIA) and Clarivate PLC reveals that UK biotech companies raised a record £2.8 billion in equity finance in 2020. The science of success: UK biotech in 2020, marks the best year for biotech investments ever recorded by the trade association and shows that since 2012 investment has increased by over 1000%.

ENDS

Notes to Editors

1. For more information please contact Jack Fellows, Communications and Media Manager on jfellows@bioindustry.org or 07825942934

2. The data compiled to assess the size of the GW Pharma deal was taken from Pitchbook. 

3. To read, The science of success: UK biotech in 2020, please follow this link