Jazz Pharmaceuticals Explores Asset Sale Option, Possibly Cannabinoid Business: Report

Jazz Pharmaceuticals PLC JAZZ is reportedly exploring strategic options comprising a potential sale.

The company is talking to advisers to help field interest and is also exploring possibilities to include a breakup or divestment of parts of the business, reported Bloomberg. 

As per the report, there is a possibility of separating JAZZ's cannabinoid business from its oncology operations. 

JAZZ could draw interest from large drugmakers looking to expand business in the neuroscience and oncology space.

With health care being the bright spot for dealmakers in 2023, the value of deals targeting the sector has increased 19% this year to $242 billion, as per Bloomberg.

Also Read: Jazz Pharmaceuticals' Neuroscience Pipeline Readouts In Focus: Analyst Lowers Price Target

Last month, JAZZ reported a noteworthy 3% uptick in Q2 FY23 revenues, reaching $957 million, as opposed to $932 million in the corresponding period of 2022.

Price Action: JAZZ shares are trading higher by 1.74% at $134.33 on the last check Friday.