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Catalyst Pharmaceuticals to acquire commercial rights to an Eisai seizure medication for $160M
Catalyst Pharmaceuticals is adding another drug to its arsenal by picking up a drug from Eisai.
The Florida-based rare disease biotech announced on Monday…
Catalyst Pharmaceuticals is adding another drug to its arsenal by picking up a drug from Eisai.
The Florida-based rare disease biotech announced on Monday that it has entered into an agreement with the Japanese pharma Eisai to acquire the US rights to the seizure treatment Fycompa, along with an exclusive option period to review, evaluate and possibly negotiate an acquisition of a rare epilepsy asset in Eisai’s pipeline.
According to Catalyst, Fycompa’s net revenue in the US for the 2022 fiscal year is approximated at $136 million.
Under the terms of the agreement, Catalyst will pay Eisai $160 million, with the pharma possibly netting future royalties and milestone payments, along with the negotiation of the epilepsy candidate. The transaction is expected to be completed sometime in the first quarter of next year. Both companies have also negotiated a short-term “transition services agreement” and a longer-term supply agreement as part of the deal.
For Catalyst, the deal means a bigger portfolio and a new revenue stream.
“Our portfolio expansion efforts and business development pipeline of prospects both continue to remain robust, with several additional opportunities under active due diligence that offer the potential to further implement our near and long-term growth strategy,” said Patrick McEnany, Catalyst’s CEO in a statement.
The deal has been good for Catalyst’s stock price $CPRX, up almost 10% since opening Tuesday. The shares are up 159% rise since the beginning of 2022.
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