ROME, Italy and CORAL GABLES, Florida, United States – May 7, 2026
Angelini Pharma S.p.A. and Catalyst Pharmaceuticals Inc. announced a definitive agreement under which Angelini Pharma will acquire Catalyst Pharmaceuticals in an all-cash transaction valued at approximately $4.1 billion USD (€3.5 billion). Under the terms of the deal, Catalyst shareholders will receive $31.50 per share in cash, representing a 28% premium to the company’s 30-day volume-weighted average share price as of April 22, 2026. The acquisition marks Angelini Pharma’s strategic entry into the United States market while significantly expanding its global footprint in brain health, neurology, and rare diseases. The transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close during the third quarter of 2026, subject to regulatory approvals and shareholder approval.
Angelini Pharma Expands Global Rare Disease Leadership
The acquisition represents one of the most significant international pharmaceutical transactions involving an Italian healthcare company in recent years. Angelini Pharma plans to combine Catalyst’s commercial infrastructure and rare disease portfolio with its own neuroscience expertise to build a next-generation platform focused on neurological and rare diseases globally. The move substantially strengthens Angelini Pharma’s long-term strategy centered on central nervous system (CNS) disorders, epilepsy, and neurodegenerative diseases while giving the company immediate operational scale in the U.S. pharmaceutical market.
Catalyst Pharmaceuticals brings a strong portfolio of FDA-approved therapies focused on rare neuromuscular and neurological conditions. Its lead products include FIRDAPSE® (amifampridine) for Lambert-Eaton myasthenic syndrome (LEMS), AGAMREE® (vamorolone) for Duchenne muscular dystrophy (DMD), and FYCOMPA® (perampanel) for epilepsy and seizure disorders. These therapies are expected to significantly strengthen Angelini Pharma’s presence in high-value specialty pharmaceutical markets where demand for targeted neurological therapies continues to grow globally.
Strategic U.S. Entry Accelerates Growth in Brain Health
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Angelini Pharma stated that the acquisition aligns with its broader transformation strategy initiated five years ago to evolve into a globally competitive pharmaceutical company focused on innovation and specialized therapies. The company highlighted that the addition of Catalyst’s commercial capabilities, regulatory expertise, and rare disease portfolio creates a strategic platform for future expansion in North America while maintaining strong operations in Europe.
The transaction is being financed through a combination of cash and debt, supported by Blackstone funds and several international investment partners. BNP Paribas is serving as Sole Global Coordinator and Underwriter of the financing package. Angelini Pharma emphasized that its manufacturing and scientific operations in Italy will remain strategically important as part of the combined organization’s global network.
Industry analysts view the acquisition as a major step in consolidating the rapidly growing market for rare neurological disease therapies, particularly in areas with high unmet medical need and limited competition. The deal also reflects increasing cross-border M&A activity within the biopharmaceutical sector as companies seek scale, commercial diversification, and access to specialized therapeutic markets.
Catalyst Portfolio Strengthens Rare Neurology Pipeline
Catalyst Pharmaceuticals has established itself as a leading commercial-stage rare disease company since its Nasdaq listing in 2006. Its portfolio targets several underserved neurological disorders with limited treatment options. FIRDAPSE remains the only FDA-approved evidence-based treatment for Lambert-Eaton myasthenic syndrome in both adults and pediatric patients aged six and older. AGAMREE has also gained momentum following FDA approval in Duchenne muscular dystrophy, a rare genetic neuromuscular disorder with significant unmet medical need.
Alongside the acquisition announcement, Catalyst also disclosed resolution of ongoing U.S. patent litigation related to generic competition for FIRDAPSE®, reducing future legal uncertainty around one of the company’s key revenue-generating products. The settlement resolved all pending patent disputes with Hetero USA regarding abbreviated new drug applications tied to amifampridine tablets.
Global Biopharma Consolidation Continues in Rare Disease Sector
The acquisition highlights the growing importance of rare disease and neuroscience assets within global pharmaceutical M&A activity. As demand increases for specialized therapies targeting genetically defined and difficult-to-treat disorders, companies with established commercial infrastructure and regulatory expertise are becoming increasingly attractive acquisition targets. Angelini Pharma’s acquisition of Catalyst positions the combined organization as a stronger global competitor in the expanding rare neurology and brain health markets.
Source: Angelini Pharma, Catalyst Pharmaceuticals press release
