EUSA has 10 approved drugs backed by a commercial infrastructure in the U.S. and Europe.
Specialty pharmaceuticals company Jazz Pharmaceuticals is buying EUSA Pharma for $650 million in cash and a potential $50 million milestone payment dependent on its lead acute lymphoblastic leukemia (ALL) therapy Erwinaze™/Erwinase® (asparaginase Erwinia chrysanthemi) achieving a specified U.S. sales target in 2013.
Founded in 2006, EUSA has a portfolio of 10 marketed oncology, critical care, and oncology supportive care products. The firm achieved net sales of $46 million in the first quarter of 2012. Its biggest seller is Erwinaze, which has been developed for treating ALL in patients who are hypersensitive to E. coli-derived asparaginase. It was approved in the U.S. in November 2011.
Ireland-based Jazz says acquisition of EUSA will give it an expanded product portfolio and commercial platform, including a specialty commercial infrastructure in the U.S. and Europe, and international distribution network. The acquired firm is expected to add between $210 million and $230 million to Jazz’ revenues in 2013. “EUSA Pharma is a compelling strategic fit with our specialty focus and commercial expertise,” remarks Bruce C. Cozadd, chairman and CEO at Jazz. This transaction would expand our global footprint and marketed product portfolio.”
EUSA’s development pipeline is headed by Leukotac®, an anti-CD25 monoclonal antibody in Phase III development in Europe for treating steroid-refractory acute graft-versus host disease. Erwinaze is in addition being developed as an intravenous delivery formulation, and a pegylated recombinant Erwinia asparaginase, Asparec®, is undergoing Phase I testing in Europe.
EUSA is headquartered in the U.S., and has operations in the U.K. and France. The firm has an established commercial infrastructure in the U.S. and Europe and a wide distribution network in other countries. Jazz product portfolio is centered on narcolepsy, severe chronic pain, psychiatry, and women’s health products. In addition to its headquarters in Dublin, the company has offices in Palo Alto and Philadelphia.