Angelini Pharma agreed to buy Catalyst Pharmaceuticals in a cash deal valued at about $4.1 billion, adding three FDA-approved rare neurological medicines and a U.S. commercial platform. The offer values Catalyst at $31.50 per share, representing a 28% premium to the 30-day volume-weighted average price before deal whispers emerged on April 22. Both boards backed the transaction, which is expected to close in the third quarter. Catalyst’s portfolio includes Firdapse (amifampridine) for Lambert-Eaton myasthenic syndrome, Agamree (vamorolone) for Duchenne muscular dystrophy, and Fycompa (perampanel) with U.S. rights acquired from Eisai in 2023. Angelini said the buyout accelerates its long-term focus on brain health and rare neurological disorders, while maintaining its Italian base as a production and scientific center. Analytically, the move is positioned as a market-access shortcut for a growing U.S. rare-disease business—rather than a pipeline gamble—by acquiring established therapies and infrastructure.