The 4.1 billion dollar acquisition of the American company specialized in the development and commercialization of drugs for rare and hard-to-treat diseases, Catalyst Pharmaceuticals, brings Angelini Pharma into the US market and strengthens the positioning of the Italian group in rare neurological diseases.
The operation, announced by Bloomberg last week and unanimously approved by the boards of directors of both companies, marks a new phase for the company controlled by Angelini Industries, which aims to consolidate its international presence.
TERMS OF THE DEAL
Angelini Pharma has announced that it will acquire Catalyst Pharmaceuticals for $31.50 per share, for a total value of approximately 4.1 billion dollars, equivalent to 3.5 billion euros. The offer recognizes a 28% premium compared to the volume-weighted average price of Catalyst over the last 30 days as of April 22, 2026, and involves the acquisition of all outstanding shares of the US company.
The closing of the transaction is expected in the third quarter of 2026. The acquisition is carried out with the participation of funds managed by Blackstone and other international partners, while BNP Paribas will act as the sole global coordinator and underwriter of the financing package.
ANGELINI PHARMA’S STRATEGY
According to the company, the operation represents “a turning point in the transformative journey of Angelini Pharma, a group with over 100 years of history, chaired by Thea Paola Angelini, the fourth generation of the Angelini family, and led by CEO Sergio Marullo di Condojanni.”
The acquisition also strengthens the company’s commitment to Brain Health and rare neurological diseases, a sector on which Angelini Pharma has focused part of its development strategy.
“Five years ago, we started a profound transformation of Angelini Pharma – organizational, scientific, and strategic – with the goal of building a company capable of competing globally. On one hand, continuing to invest in our traditional portfolio, on the other, focusing on the treatment of central nervous system diseases, aiming to meet a need that is unfortunately growing significantly,” said Sergio Marullo di Condojanni.
The CEO added: “Today we take a new significant step with the acquisition of Catalyst Pharmaceuticals, which will make Angelini Pharma a relevant global player in rare neurological diseases. Entering the US market will allow us to gain the scale and expertise needed to continue on this path.”
WHAT CATALYST PHARMACEUTICALS DOES
Founded in 2002, Catalyst Pharmaceuticals has built its business model on in-licensing, development, and commercialization of innovative therapies for rare and hard-to-treat diseases.
The company began its journey by licensing molecules such as CPP-109 from Brookhaven National Laboratory, a project whose development concluded in 2009. In 2006 Catalyst went public on Nasdaq and in 2009 licensed the CPP-115 program from Northwestern University, which ended in 2018.
But the turning point for the company came in 2012 with the acquisition of North American rights to Firdapse from BioMarin. The drug received FDA approval in 2018 as the first evidence-based therapy for Lambert-Eaton myasthenic syndrome (LEMS).
In subsequent years, Catalyst expanded its international presence by obtaining exclusive rights for Japan and potential access to Asian and Latin American markets. The commercial launch of Firdapse in Japan is expected in 2025 after approval obtained in 2024.
KEY DRUGS IN THE PORTFOLIO
Catalyst’s main product is Firdapse, based on 10 mg amifampridine tablets, indicated for patients aged six and older affected by Lambert-Eaton myasthenic syndrome for the maintenance of muscle strength and mobility.
The portfolio also includes Fycompa, an antiepileptic drug whose US rights were acquired by Eisai in 2023. The medication is used for the treatment of partial-onset seizures from age four and primary generalized tonic-clonic seizures from age twelve.
Among the main products is also Agamree, an oral suspension based on 40 mg/mL vamorolone intended for Duchenne muscular dystrophy. The drug was approved by the FDA in 2023 for patients aged two and older and launched in the United States in 2024. In 2025 it also obtained approval from Health Canada, becoming the first product authorized in Canada for DMD.
