Dublin-based Jazz Pharmaceuticals (NASDAQ: JAZZ) came across the pond to shop for late-stage drug candidates, and ended up buying Celator Pharmaceuticals (NASDAQ:CPXX) for $1.5 billion. Celator focuses on combination therapy to treat cancer. Its lead product, VYEXOS™, has completed a Phase 3 trial for acute myeloid leukemia. VYEXOS™ complements Jazz Pharma’s clinical and commercial expertise in hematology/oncology.
Jazz is paying $30.25 per share in cash. The transaction is expected to be accretive to non-GAAP adjusted EPS beginning in 2018.