Chiesi Targets Rare Diseases in $1.48 Billion Amryt Purchase

Italian drugmaker Chiesi Farmaceutici plans to extend its rare disease portfolio in a $1.48 billion buyout of UK-based Amryt Pharma, gaining Amryt’s Filsuvez, a naturally derived product just approved in Europe for treating the rare inherited skin disorder epidermolysis bullosa.

Under the acquisition, Chiesi will pay $1.25 billion upfront, with the potential for another $225 million in milestone payments for Filsuvez. The deal is expected to close by the end of the second quarter of this year.

Chiesi will also acquire three already-approved drugs: Juxtapid (lomitapide), approved for homozygous familial hypercholesterolemia; Myalept (metreleptin), approved for the treatment of lipodystrophy; and Mycapssa (ocreotide), approved for acromegaly, a rare condition in which the body produces too much growth hormone.