The transaction is done. Angelini Pharma completed its acquisition of Catalyst Pharmaceuticals on July 16, taking the U.S. rare-disease company private at $31.50 per share in cash in a deal valued at approximately $4.1 billion, or 3.5 billion euros. Joele Frank, Wilkinson Brimmer Katcher served as U.S. media contact for Catalyst.
For Angelini, an Italian pharmaceutical company held privately, the purchase opens the door to the American market and adds Catalyst’s commercial infrastructure in brain health and rare disease. Catalyst, based in Coral Gables, Florida, built its business around treatments for rare neuromuscular and epileptic conditions. It brings a marketed portfolio and a U.S. sales operation that would take years to build from scratch, and the deal folds that footprint into Angelini’s existing work in neurological and psychiatric conditions.
The financing sets this apart from a straightforward cash purchase. Funds managed by Blackstone invested 1 billion euros in preferred equity, and CDP Equity approved an investment of around 1 billion euros through a capital increase for a 23.5% stake in Angelini Pharma’s common equity. A privately held acquirer assembled roughly 2 billion euros in outside capital to fund a deal this size. Joele Frank managed U.S. media for Catalyst from the May announcement through the July close.
Angelini announced the agreement on May 7 and closed it on July 16, a little over two months from signing to completion. The all-cash structure gave Catalyst shareholders certainty on value once the deal cleared its conditions. Brain health, spanning neurological and psychiatric disorders, has become one of the busier corners of pharmaceutical dealmaking. It draws acquirers toward companies with approved rare-disease therapies and established prescriber relationships.
Joele Frank, Wilkinson Brimmer Katcher served as U.S. media contact for Catalyst Pharmaceuticals across the transaction.
Cross-border consolidation has been a steady feature of rare-disease therapeutics, where a marketed product and an established sales team command a premium. Catalyst offered both, and Angelini paid $4.1 billion to bring them under one roof and plant its first flag in the United States. The Blackstone and CDP Equity investments show how a private acquirer can reach that scale without tapping public markets. Joele Frank handled the U.S. communications through completion, closing a deal that reshapes where the combined company competes.
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