Catalyst Pharmaceuticals completes acquisition of U.S. rights to FYCOMPA CII

Catalyst Pharmaceuticals (CPRX) announced that it has successfully completed the acquisition of the U.S. rights for FYCOMPA CIII, from Eisai (ESALY). The closing of the acquisition provides Catalyst with an increased U.S. commercial presence in neurology and an expanded product portfolio with an established, first-in-class, commercial stage epilepsy asset. "The completion of the acquisition of U.S. rights to FYCOMPA marks an important step in the expansion and diversification of our portfolio of marketed products, adds a second complementary commercial product that will further strengthen Catalyst’s financial position through increased revenue scale, and is expected to be accretive to EBITDA and EPS in 2023," said Patrick McEnany, Chairman and CEO of Catalyst. "Coupled with the continued growth of FIRDAPSE, our flagship product, we look forward to leveraging our proven capabilities and expanded U.S. presence in neuroscience to drive organic growth for both FYCOMPA and FIRDAPSE." Strategic Rationale: The addition of FYCOMPA serves as a complementary growth driver and a strategic market adjacency within neuroscience that establishes a potential gateway for Catalyst to expand into rare epileptic diseases; Strengthens and diversifies revenues and cash flow generation with the addition of a successfully U.S. marketed asset; The acquisition of FYCOMPA is expected to be accretive to EBITDA and EPS in 2023 and provides synergies to build on the company’s proven operational and commercial execution in neurology; Strategically aligns with Catalyst’s growth plans to optimize the FIRDAPSE franchise and invest in portfolio expansion opportunities. Additional Transaction Details: As previously disclosed, Catalyst made a total all-cash purchase payment of $160M to Eisai. Under certain conditions, Catalyst may be obligated to pay a milestone payment and royalty. The completion of the acquisition does not impact Catalyst’s previously reported 2022 full-year FIRDAPSE total net revenue guidance of $205M to $210M.