• The Italian pharma company grows its presence in the U.S. market and strengthens its global leadership in Brain Health and Rare Diseases
  • Completion of the transaction gives Angelini Pharma ownership of Catalyst’s product portfolio
  • The transaction is being carried out with the participation of funds managed by Blackstone
  • CDP Equity approves €1 billion investment in Angelini Pharma
  • Italy remains a strategic production and scientific hub

ROME and CORAL GABLES, Fla., July 16, 2026 (GLOBE NEWSWIRE) -- Angelini Pharma S.p.A. ("Angelini Pharma"), international pharmaceutical company and part of Angelini Industries, announces today the completion of its acquisition of Catalyst Pharmaceuticals, Inc. ("Catalyst") (Nasdaq: CPRX). Catalyst is now part of Angelini Pharma, integrating Catalyst’s portfolio and commercial infrastructure with Angelini Pharma's expertise and products in Brain Health.

The transaction provides the participation of funds managed by Blackstone, that will invest 1 billion euros in preferred equity, subject to customary regulatory clearances.

CDP Equity has approved to invest around 1 billion euros through a capital increase to acquire a 23.5 per cent stake in the common equity of Angelini Pharma. The investment, strongly supported by CDP Equity, underpins Angelini Pharma’s transformation into a global player in brain health and rare diseases. It accelerates its expansion into the US market through the acquisition of Catalyst and promotes a significant increase in investments in research and development, thereby strengthening the entire national pharmaceutical sector and fostering high-quality employment growth in Italy as well.

The operation was financed with the support of BNP Paribas, acting as Sole Global Coordinator and Underwriter of the overall financing package, including the bridge-to-equity, for Angelini Pharma. Morgan Stanley & Co. International plc is acting as sole financial advisor to Angelini Pharma in connection with the participation of Blackstone and CDP Equity.

This acquisition marks a pivotal moment in the ongoing transformation journey that Angelini Industries — a company with more than 100 years of history – has been pursuing with a clear strategic vision over the past four years and establishes Angelini Pharma's presence in the U.S. as part of a balanced growth strategy, that will continue to see Italy as a strategic reference hub for production and scientific research within the Group's global operations.

Sergio Marullo di Condojanni, CEO of Angelini Pharma, said: “With the completion of this transaction, Angelini Pharma takes a decisive step to become a global player, increasingly driven by science and guided by a patient-centric vision, with a growing focus on Brain Health and Rare Disease. Expanding the U.S. market, combined with Catalyst's portfolio and expertise in rare neurological diseases, allows us to gain the scale needed to build a next-generation therapeutic platform in Brain Health and Rare Disease, while continuing to strengthen our core business in Europe, where our industrial presence in Italy remains a strategic asset for the Group. I want to extend a warm welcome to Rich and to the entire Catalyst team joining Angelini Pharma: I am thrilled by the opportunity to build something ambitious together, and I look forward to working closely as we shape the future of this platform, with patient care always at the center of our vision. Finally, I would like to thank Blackstone and CDP Equity for their trust and for their valuable contribution as partners in this transformative phase for the Group.”

Rich Daly, President, Global Rare Disease Business Unit Angelini Pharma: “We are honoured to become part of the long-standing, strong legacy of Angelini Pharma. Today marks a significant day for all of our important stakeholders - especially patients living with rare diseases, their caregivers, and our employees as we create an impressive new global scale with the goal to continue to bring new treatments to people globally. As the newly formed Global Rare Disease Business Unit of Angelini Pharma, we look forward to working together to make a meaningful difference.”

Fabio Barchiesi, Ceo of CDP Equity, said: “This investment is a concrete example of the role that CDP Equity intends to play in supporting the country’s economic ecosystem. Our investment targets a sector that embodies Italian excellence with high growth potential and supports a national champion in its journey from a predominantly Italian and European operator to a player of global significance. The transaction is consistent with our commitment to supporting the drive for innovation and the international growth of Italy’s industrial excellence. These objectives have, in fact, been identified in CDP Equity’s Strategic Plan as key drivers for the competitiveness, strategic autonomy and economic security of our production sector”.

Andrea Valeri, Chairman of Blackstone Italy, said: “We are pleased to support one of Italy’s leading companies in this transformative acquisition, leveraging Blackstone’s global franchise and deep expertise in life sciences,” and Craig Shepherd, Senior Managing Director, Blackstone Life Sciences, added: “Blackstone sees compelling opportunities to provide capital solutions at scale to biopharmaceutical companies and we are thrilled to back Angelini Pharma’s continued growth and strategic goals.”

Additional Transaction Details
Under the closing of the merger, each outstanding share of Catalyst common stock was cancelled and converted into the right to receive USD 31.50 per share in cash, without interest, representing a total equity value of approximately USD 4.1 billion (approximately EUR 3.5 billion). Following the completion of the transaction, Catalyst's common stock has ceased trading on the Nasdaq Global Market. Further details regarding the transaction are available in the Form 8-K filed by Catalyst with the U.S. Securities and Exchange Commission (SEC).

Advisors & Financing

Centerview Partners is serving as lead financial advisor, BNP Paribas and Morgan Stanley & Co. International plc. are acting as co-advisors to Angelini Pharma in connection with the acquisition, and Hogan Lovells Cadwalader and Gatti, Pavesi, Bianchi, Ludovici Studio Legale are serving as legal counsel to Angelini Pharma, Kirkland & Ellis LLP and Akerman LLP are serving as legal counsel to Catalyst and Linklaters LLP is acting as lenders legal advisor.

BNP Paribas is acting as Sole Global Coordinator and Underwriter for the debt financing to Angelini Pharma. J.P. Morgan Securities LLC is serving as sole financial advisor to Catalyst, and Kirkland & Ellis LLP and Akerman LLP are serving as legal counsel to Catalyst. In the transaction, CDP Equity was assisted by Goldman Sachs Bank Europe, SE Succursale Italia and PwC as financial advisors, Clifford Chance as legal advisor, and L.E.K. Consulting as industrial advisor.

The transaction was financed by a pool of 14 Italian and international financial institutions, led by BNP Paribas, acting as Sole Global Coordinator and Underwriter of the financing package: BNP Paribas, Crédit Agricole Corporate and Investment Bank, Intesa Sanpaolo and Mediobanca as Bookrunner and Mandated Lead Arranger; Banco BPM, Bank of America, Cassa Depositi e Prestiti, ING Bank, Natixis and UniCredit as Mandated Lead Arranger; Banco Bilbao Vizcaya Argentaria, Barclays and Commerzbank as Lead Arranger with Banca Nazionale del Lavoro as Original Lender. BNP Paribas also acted as Hedge Coordinator and Agent Bank.

About Angelini Pharma S.p.A.

Angelini Pharma is an international pharmaceutical company and part of Angelini Industries. The company researches, develops, and commercializes health solutions with a particular focus on Brain Health, including mental health and epilepsy, and the Consumer market. Founded in Italy at the beginning of the twentieth century, Angelini Pharma operates directly in 20 countries, employing more than 3,000 people. Its products are commercialized in over 70 countries through strategic alliances with leading international pharmaceutical groups. For more information on Angelini Pharma, visit https://www.angelinipharma.com.

About Angelini Industries

Angelini Industries is a multinational group founded in Ancona in 1919 by Francesco Angelini. Today, Angelini Industries is a solid and diversified industrial group employing approximately 5,800 people and operating in 21 countries worldwide, with revenues of over 2 billion euros generated across the healthcare, industrial technology, and consumer goods sectors. A targeted growth investment strategy, a constant commitment to research and development, and an in-depth knowledge of markets and business sectors make Angelini Industries one of Italy’s leading companies in the sectors in which it operates. For more information, visit www.angeliniindustries.com.

About Catalyst Pharmaceuticals, Inc. (a wholly owned subsidiary of Angelini Pharma)

Catalyst Pharmaceuticals, Inc. (now aligning under the Angelini Pharma brand), is a biopharmaceutical company committed to improving the lives of patients with rare diseases. With a proven track record of bringing life-changing treatments to the market, we focus on in-licensing, commercializing, and developing innovative therapies. Guided by our deep commitment to patient care, we prioritize accessibility, ensuring patients receive the care they need through a comprehensive suite of support services designed to provide seamless access and ongoing assistance. Catalyst maintains a well-established U.S. presence, which remains the cornerstone of our commercial strategy, while continuously evaluating strategic opportunities to expand our global footprint. Catalyst, headquartered in Coral Gables, Fla., has been recognized by Forbes as one of America’s Most Successful Company in 2023, 2024, and 2025, ranked by TIME as one of America's Growth Leaders of 2026, and on the 2025 Deloitte Technology Fast 500™ list as one of North America’s Fastest-Growing Companies.

For more information, please visit Catalyst's website at www.catalystpharma.com.

Press Contacts

Angelini Pharma

Roberto Scrivo
Chief External Affairs Communication & Sustainability Officer
+39 348 454 6502
Roberto.scrivo@angelinipharma.com

Chiara Antoniucci
Global External & Internal Communication Director
+39 347 713 3926
chiara.antoniucci@angelinipharma.com

Federica Marcelli
Italy Media Communications Manager
+39 3383924138
federica.marcelli@angelinipharma.com

U.S. Media

Jed Repko / Mahmoud Siddig
Joele Frank, Wilkinson Brimmer Katcher
+1 (212) 355-4449

SEC Newgate Italia
02.624999.1 – angelinipharma@secnewgate.it
Daniele Murgia – daniele.murgia@secnewgate.it – +39 338 4330031
Fausta Tagliarini – fausta.tagliarini@secnewgate.it – +39 347 6474513
Federico Ferrari – federico.ferrari@secnewgate.it – +39 347 6456873
Pietro Marciano – pietro.marciano@secnewgate.it – +39 347 3137065