Chiesi Farmaceutici has completed the previously announced acquisition of global, commercial-stage biopharmaceutical company Amryt Pharma.
The definitive agreement between the companies was initially signed in January this year. The total deal value at close is nearly $1.2bn in upfront consideration and contingent value rights (CVRs) representing an additional potential consideration of around $225m.
Chiesi Global Rare Diseases head Giacomo Chiesi said: “Amryt has unique and clinically differentiated products and additional promising drugs in its pipeline, and, as a benefit corporation certified B Corp, Chiesi has a patient-centric and sustainable model in place to make these treatments available to even more patients who need them.”
With this acquisition, Chiesi will be able to expand patient access to approved treatments and also advance efforts for the development of new treatments for individuals with rare diseases.
Chiesi Group CEO Giuseppe Accogli said: “This acquisition reflects Chiesi Group’s commitment towards patients. Chiesi strives to create a world where it is common to have a therapy for all diseases and acts as a force for good for society and the planet.
“Amryt Pharma’s team has delivered innovative treatments to rare disease patients with high unmet medical needs. By joining forces and expertise we will be able to grow our capabilities and further strengthen our position to provide a positive impact on patients living with rare diseases.”
Italy-based Chiesi has operations in 31 countries and the group’s research and development centre located in Parma works alongside six other key R&D hubs in the US, Canada, France, China, the UK, and Sweden.