The pharmaceutical industry sets out to conquer the US

A major corporate deal – involving both private and public capital – will lead to the creation of a global leader in the pharmaceutical sector, headquartered in Italy. Angelini Pharma, a subsidiary of Angelini Industries – a long-established group founded in Ancona in 1919 by Francesco Angelini – has completed a major acquisition in the United States with the support of funds managed by Blackstone and CDP Equity. Each of the two partners will contribute €1 billion to the deal, which totals €3.5 billion (US$4.1 billion). The headquarters and control of the new group will remain, respectively, in Italy and in the hands of the Angelini family, whilst Blackstone and CDP Equity will together hold a stake of just over 40 per cent in Angelini Pharma, a company which currently accounts for 65 per cent of Angelini Industries’ revenue.

The American company acquired is Catalyst Pharmaceuticals, listed on the Nasdaq – it is due to be delisted following the transaction – and specialising in products for brain health and rare diseases, one of the fastest-growing sectors. Angelini Pharma’s objective is, on the one hand, to build a next-generation therapeutic platform for the treatment of mental health conditions and, on the other, to increase its presence in the US market, where Catalyst Pharmaceuticals, based in Florida, has been recognised by Forbes for three consecutive years as one of the country’s most successful companies. It appears that this is merely the first step taken by the Italian group towards becoming an international player, whilst maintaining its core business in Europe. Further acquisitions could follow over the coming years. The involvement of CDP Equity, led by Fabio Barchiesi, stands as a prime example of support for the international growth of Italy’s industrial excellence – an objective set out in the strategic plan of the CDP-controlled subsidiary. It is an example of the country’s system coming together when needed.