Catalyst Pharma Acquires US Rights To Eisai's Epilepsy Drug

  • Catalyst Pharmaceuticals Inc CPRX agreed to acquire the U.S. rights to Eisai Co Ltd's ESALY ESALF Fycompa (perampanel) CIII and an exclusive option period to review, evaluate and negotiate to acquire a rare epilepsy asset currently in Eisai's pipeline.
  • Eisai will receive an upfront payment of $160 million.
  • The acquisition adds a highly complementary and established marketed product in neurology that diversifies Catalyst's commercial product portfolio and paves the way for further expansion into other rare neurological diseases.
  • U.S. Fycompa net revenues for the fiscal year ending March 31, 2023, will be approximately $136 million.
  • Catalyst expects the acquisition to be accretive upon closing to its earnings in 2023 before interest, taxes, depreciation & amortization (EBITDA), and EPS.
  • The acquisition is expected to provide Catalyst with a broader commercial product portfolio with the first and only non-competitive AMPA receptor antagonist approved for epilepsy.
  • A growing revenue base and a synergistic asset further add to the company's already strong revenue growth of Firdapse.
  • Fycompa is expected to have patent protection through at least May 23, 2025, with possible patent protection into 2026.
  • Fycompa is indicated for epilepsy in patients aged four and older alone. The deal is expected to close in Q1 of 2023.
  • Price Action: CPRX shares closed 3.47% higher at $16.99 during after-hours trading on Monday.
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