Jazz Pharmaceuticals to acquire Chimerix for $935 million

DUBLIN and DURHAM, N.C. - Jazz Pharmaceuticals plc (NASDAQ:JAZZ) and Chimerix Inc . (NASDAQ:CMRX) have announced a definitive agreement under which Jazz will acquire Chimerix for $8.55 per share in cash. The announcement comes as Chimerix has demonstrated remarkable market performance, with a 310% return over the past year and a 464% surge in the last six months, according to InvestingPro data. This transaction, approved by both companies’ boards, represents a total cash consideration of approximately $935 million and is expected to close in the second quarter of 2025. InvestingPro analysis shows Chimerix maintains a strong financial position with more cash than debt and a healthy current ratio of 6.33, indicating robust short-term liquidity.

Chimerix’s lead clinical asset, dordaviprone, is a novel treatment for H3 K27M-mutant diffuse glioma, a rare and aggressive brain tumor. The U.S. Food and Drug Administration (FDA) has accepted a New Drug Application (NDA) for dordaviprone with Priority Review and set a Prescription Drug User Fee Act (PDUFA) action date of August 18, 2025. If approved, dordaviprone could be the first FDA-approved therapy for this condition, currently treated primarily with radiation.

Bruce Cozadd, chairman and chief executive officer of Jazz Pharmaceuticals, expressed confidence in the clinical results of dordaviprone and its potential to become a standard of care for this rare disease. He also highlighted the opportunity for the drug to contribute to Jazz’s revenue in the near-term.

The acquisition aligns with Jazz’s strategy to strengthen its presence in rare oncology and addresses a significant unmet medical need. The company plans to leverage its combined research and development, as well as commercial expertise with Chimerix, to advance dordaviprone’s clinical trial program and prepare for a potential commercial launch in the U.S.

Chimerix shareholders are set to receive a 72% premium based on the closing trading price on March 4, 2025, and the Chimerix board unanimously recommends that shareholders tender their shares. Jazz expects to fund the transaction with existing cash and investments. For investors seeking deeper insights into similar opportunities, InvestingPro offers comprehensive analysis of over 1,400 US stocks, including detailed Pro Research Reports that transform complex financial data into actionable intelligence.

The proposed acquisition is subject to customary closing conditions, including the tender of a majority of Chimerix’s outstanding shares. Guggenheim Securities and Wachtell, Lipton, Rosen & Katz are serving as advisors to Jazz, while Centerview Partners LLC, Skadden, Arps, Slate, Meagher & Flom LLP, and Cooley LLP are advising Chimerix.

This news is based on a press release statement and should be verified with independent sources for further information.

In other recent news, Chimerix announced that the U.S. Food and Drug Administration (FDA) has accepted its New Drug Application for dordaviprone, a potential treatment for recurrent H3 K27M-mutant diffuse glioma. The FDA has granted the application Priority Review, setting a target action date for August 18, 2025. This development marks a significant regulatory step for Chimerix, which is working to address the unmet medical needs of patients with this rare form of brain cancer. Meanwhile, H.C. Wainwright has reaffirmed its Buy rating for Chimerix, citing the potential for a third-quarter 2025 launch of dordaviprone. The firm maintains a price target of $11.00 for the company’s stock. Furthermore, TD Cowen has identified Chimerix’s submission for accelerated approval as one of ten key biotech catalysts for 2025. Chimerix’s CEO has emphasized the company’s dedication to expediting the review process and preparing for a potential commercial launch. Dordaviprone has also received several designations, including Fast Track and Orphan Drug status, underscoring its potential impact in treating this challenging condition.

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