Jazz Pharmaceuticals Plc agreed to buy Celator Pharmaceuticals Inc. (Nasdaq: CPXX) for about $1.5 billion to gain an experimental medicine for a rare blood cancer.

Jazz, based in Dublin, offered $30.25 per share in cash for Ewing, New Jersey-based Celator, the companies said in a joint statement on Tuesday. Celator’s board endorsed the transaction. Investors with 18.4 percent of Celator’s stock, including managers and board members, agreed to tender their shares.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.