Chiesi Pharmaceuticals Buys Amryt Pharma’s Innovative Treatments for Rare Diseases

Chiesi Pharmaceuticals, the research-oriented Parma-based biopharmaceutical group, has taken over the Irish company Amryt Pharma plc, which is active in its own field with a particular focus on the acquisition, development, and commercialization of innovative treatments to help improve the lives of patients with rare and orphan diseases, an area in which the Chiesi group is already active both through a dedicated business unit and the Chiesi Ventures venture capital fund launched in 2014.

According to La Repubblica, part of the acquisition consideration, amounting to €700 million, was financed through a syndicated loan in which Bnp Paribas and Crédit Agricole acted as global coordinator and ESG structuring bank, flanked by Bper Banca and Deutsche Bank, with whom they shared the role of mandated lead arrangers (Crédit Agricole was also assigned the role of agent bank).

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The lender banks were assisted by Clifford Chance, while Chiesi Pharmaceuticals was assisted by Baker & McKenzie

Headquartered in Dublin, Amryt is led by its founder Joseph Wiley and primarily markets three orphan disease products, such as metreleptin (Myalept/ Myalepta); lomitapide (Juxtapid/ Lojuxta); and oral octreotide (Mycapssa). Myalept is approved in the United States as an adjunct to diet as replacement therapy to treat leptin deficiency in patients with congenital or acquired generalized lipodystrophy (GL).

Juxtapid is approved as an adjunct to a low-fat diet and other lipid-lowering medication in adults with the rare cholesterol disorder, homozygous familial hypercholesterolemia (HoFH), while Mycapssa is a combination of octreotide acetate and excipients, collectively called Transient Permeability Enhancer (TPE). Oleogel-S10 (Filsuvez), on the other hand, is a treatment for the skin manifestations of junctional and dystrophic epidermolysis bullosa.

Giacomo Chiesi, head of Chiesi Global Rare Diseases, commented, “We are excited to welcome the Amryt family to our company with an acquisition that demonstrates our commitment to rare diseases, in line with our strategy to grow through partnerships, which go beyond internal research and development. Amryt has a pipeline of unique and clinically differentiated products and other promising drugs, and Chiesi, as a certified B Corp benefit company, has a sustainable, patient-centered model for making these treatments available to even more patients who need them. As of today, we officially join forces to bring hope to people in need and look forward to this new chapter in our joint journey.”

Giuseppe Accogli, CEO of the Chiesi Pharmaceuticals Group, added, “This acquisition reflects the Chiesi Group’s commitment to patients. Chiesi strives to create a world where it is normal to have therapy for all diseases and acts as a positive force for society and the planet. Amryt Pharma’s team has provided innovative treatments to rare disease patients with significant unmet medical needs. By joining forces and expertise we will be able to grow our capabilities and further strengthen our position to produce positive effects on patients with rare diseases.”

Chiesi Global Rare Diseases is a business unit of the Chiesi Pharmaceuticals Group established to offer innovative therapies and solutions to people with rare diseases. Its goal is to ensure equal access so that as many people as possible can live more fulfilling lives by working with rare disease communities around the world to give a voice to people not adequately covered by healthcare systems.

The Chiesi Group, which has more than 85 years of experience, operates in 31 countries and employs more than 6,500 people. The Parma Research Center collaborates with six other major R&D hubs in France, the United States, Canada, China, the United Kingdom, and Sweden. In 2021, Chiesi had a turnover of €2.4 billion, EBITDA was €761.5 million, and net cash of €428.2 million.

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(Featured image by  swiftsciencewriting via Pixabay)

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