Angelini Pharma agreed to acquire Catalyst Pharmaceuticals for $4.1 billion (3.5 billion euros) at $31.50 per share, a 28% premium to the 30-day VWAP as of April 22, 2026.
Deal unanimously approved by both boards, expected to close in Q3 2026.
Enables Angelini’s entry into the US market, integrating Catalyst’s commercial infrastructure and portfolio into its Brain Health division.
Catalyst’s key products:
Firdapse (LEMS, $358.4M revenue in 2025), Agamree (Duchenne muscular dystrophy), Fycompa (antiepileptic).
Catalyst reported $589M sales in prior year, forecasting $615M-$645M for current year; focuses on rare neuromuscular and neurological diseases.