Italy's Angelini to buy Catalyst Pharma for $4.1 billion in US market expansion
Angelini Pharma's Strategic Acquisition of Catalyst Pharmaceuticals
Deal Overview and Financial Details
May 7 (Reuters) - Angelini Pharma said on Thursday that it will acquire Catalyst Pharmaceuticals in a $4.1 billion deal, marking the Italian drugmaker's entry into the U.S. pharmaceutical market.
Under the agreement, Angelini will pay $31.5 in cash for each Catalyst share, representing a 3% premium over the company's last closing price, according to LSEG-compiled data.
Acquisition Support and Financial Partners
The acquisition will be supported by Blackstone funds and select international partners, while BNP Paribas will serve as global coordinator and underwriter for the transaction.
About Catalyst Pharmaceuticals
Founded in 2002, Florida-based Catalyst Pharmaceuticals specializes in the treatment of rare and difficult-to-treat conditions. The company's U.S.-listed shares have climbed more than 30% so far this year, giving it a market value of $3.73 billion, according to the data.
Angelini Pharma's Expansion Strategy
Global Positioning in Neurological Rare Diseases
The acquisition will establish Angelini Pharma as a "relevant global player in neurological rare diseases," CEO Sergio Marullo di Condojanni said, adding that entering the U.S. market will help the drugmaker expand its scale and capabilities.
Angelini Industries: Background and Financial Performance
Company Overview
Angelini Pharma is the pharmaceutical division of Italy's privately owned Angelini Industries, whose businesses span healthcare, consumer products, and industrial technology.
Global Operations and Revenue
The group operates across 21 countries and reported annual turnover of 1.6 billion euros ($1.88 billion) in 2024, underpinned primarily by its healthcare division.
Additional Information
($1 = 0.8513 euros)
(Reporting by Ananya Palyekar in Bengaluru; Editing by Sumana Nandy and Sherry Jacob-Phillips)
