Angelini to acquire Catalyst Pharmaceuticals for $4.1 billion, adding rare CNS drug portfolio

Angelini Pharma announced it will purchase Catalyst Pharmaceuticals in a cash transaction valued at about $4.1 billion.

The agreement pays $31.50 per Catalyst share, representing a 21% premium to the prior closing price.

Catalyst adds three marketed central nervous system medicines: Firdapse for Lambert-Eaton myasthenic syndrome, Fycompa for partial and tonic-clonic seizures, and Agamree, a steroid therapy for Duchenne muscular dystrophy.

The biotech reported $589 million in revenue last year, a 20% increase, and projects 2026 revenue of $615‑$645 million, citing confidence in the strength and durability of its product portfolio.