BY Fraser Tennant
In a $1bn deal which makes it one of the main players in the treatment of central nervous system (CNS) and mental health disorders, international pharmaceutical company Angelini Pharma has acquired Swiss biopharmaceutical firm Arvelle Therapeutics.
Following the acquisition of Arvelle Therapeutics by Angelini Pharma, the latter will become the exclusive licensee for the marketing of cenobamate – a medication used for the treatment of partial-onset seizures in adults and sold under the brand name Xcopri – in the European Union (EU) and in other countries of the European Economic Area (EEA).
Angelini Pharma plans to launch cenobamate after receiving approval from the European Medicines Agency (EMA), scheduled for later in 2021.
“I am very proud of the progress we have made over the past two years in making cenobamate available to people with epilepsy in Europe,” said Mark Altmeyer, president and chief executive of Arvelle Therapeutics. "We believe that there is an excellent strategic affinity with Angelini Pharma, and we believe that the acquisition of Arvelle and the launch of cenobamate can help accelerate their goal, that of becoming protagonists in the CNS disease sector."
Operating directly in 15 countries and employing almost 3000 people, Angelina Pharma markets its products in over 50 countries through strategic alliances with the most important international pharmaceutical groups.
“We are thrilled with this promising agreement, as well as with the commitment and work that our colleagues at Arvelle have invested in their company over the last few years,” said Pierluigi Antonelli, chief executive of Angelini Pharma. “We share the same patient-centred culture and the same ambition to be agile.
Following the acquisition, Angelini Pharma expects to see direct affiliates opened in France, the UK, Nordic countries and Switzerland by 2022.
“This agreement will push us to become a major player in Europe,” added Mr Antonelli. “We will be able to meet the needs of patients with various CNS disorders, thanks to an innovative portfolio, excellent medical skills and a wide commercial presence.”
News: Italy's healthcare group Angelini buys Swiss-based Arvelle in $1 billion deal