Italy’s Angelini Eyes Major Pharma Merger to Boost Drug Pipeline

-- Italian drugmaker Angelini Pharma SpA is looking at three US biotechs for a potential merger that would expand its global footprint and help it execute an ambitious growth plan.Sergio Marullo di Condojanni, the chief executive officer of the drugmaker’s Rome-based holding company, Angelini Holding SpA, said in an interview that the ideal partner would have a pipeline of products in late clinical trials, and have released at least one drug to treat epilepsy, depression or schizophrenia.

While Marullo said Angelini is particularly interested in expanding into the US, where it does not currently have a presence, Bloomberg News reported last month that the company has also expressed interest in Milan-listed Italian drugmaker Recordati SpA. That came after buyout firm CVC Capital Partners Plc kicked off discussions about selling its controlling stake, according to people familiar with the matter.

In 2021, Angelini agreed to buy Swiss-based Arvelle Therapeutics, which makes seizure drugs, in an all-cash deal worth as much as $960 million. Thanks to investments totaling around €800 million, Marullo di Condojanni said that the company’s revenue has risen more than 25% over the past four years.

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