Jazz Pharma to expand oncology portfolio with buy of Chimerix

Ireland-headquartered Jazz Pharmaceuticals (Nasdaq: JAZZ) has entered into a definitive agreement to acquire US biopharma company Chimerix (Nasdaq: CMRX) for $8.55 per share in cash, representing a total consideration of around $935 million. The news sent Chimerix’ shares rocketing almost 70% to $8.40.

The transaction, expected to complete in the second quarter, has been approved by both companies. The offer price reflects an about 72% premium based on the closing trading price on March 4, 2025. Jazz said it expects to fund the transaction through existing cash and investments.

Chimerix's lead clinical asset is dordaviprone, a novel first-in-class small molecule treatment in development for H3 K27M-mutant diffuse glioma, a rare, high-grade brain tumor that most commonly affects children and young adults. There are no US Food and Drug Administration (FDA)-approved therapies specifically for H3 K27M-mutant diffuse glioma patients; radiation is the most common treatment approach.