Chiesi Acquires Rare Diseases Company in $1.47 Billion Deal
Chiesi will acquire Amryt Pharma, a commercial-stage biopharmaceutical company, in a deal worth up to $1.47 billion.
Chiesi Farmaceutici, a research-focused biopharmaceuticals and healthcare group, and Amryt Pharma, a commercial-stage biopharmaceutical company focused on rare diseases, announced a definitive acquisition agreement on Jan. 8, 2023. Chiesi will acquire Amryt for approximately $1.25 billion, with an additional $225 million available in contingent value rights. The transaction is expected to close before the end of the first half of 2023.
“With this Transaction, we are further expanding our commitment to people living with rare diseases, the majority of which still have no cure or approved treatment,” said Marco Vecchia, CEO, Chiesi Group, in a company press release. “This addition of the Amryt portfolio, as well as their expertise, will help us on our journey to bring medicines to patients, no matter how rare their condition may be.”
“Chiesi is aligned with Amryt’s commitment and passion, and I believe Chiesi will further maximize the value of Amryt’s current portfolio and pipeline and most importantly, will accelerate our ability to reach more patients in need globally,” said Joe Wiley, CEO, Amryt Pharma, in the press release.
Source: Amryt
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