Chiesi Farmaceutici, the international, research-focused biopharmaceuticals and healthcare group has acquired Amryt Pharma, a global biopharmaceutical company dedicated to developing novel treatments for rare diseases.
More than 300 million people worldwide are affected by rare diseases, including those who are living with ultra-rare metabolic and dermatologic conditions who still have no approved treatment.
The acquisition reinforces Chiesi’s commitment to deliver innovative treatments to patients with highly unmet medical needs. As a benefit corporation and a B Corp, Chiesi strives to create a world where it is common to have a therapy for all diseases and acts as a force for good, for society and the planet.
Chiesi’s Head of Chiesi Global Rare diseases Giacomo Chiesi commented: “We are excited to add the Amryt family to our company in this acquisition that demonstrates our commitment to rare diseases and aligns with our growth strategy through partnerships beyond internal research and development.”
Chiesi’s new CEO Giuseppe Accogli said: “By joining forces and expertise we will be able to grow our capabilities and further strengthen our position to provide a positive impact on patients living with rare diseases.”
With regard to the financing of the deal, cash consideration has been partially financed through a EUR 700m syndicated loan led by BNP Paribas and Crédit Agricole as Global Coordinators and ESG Structuring Banks, acting alongside BPER and Deutsche Bank as Mandated Lead Arrangers. Crédit Agricole is Loan Agent too. Lenders have been advised by Clifford Chance, while Baker and McKenzie has assisted Chiesi Farmaceutici.
The loan agreement allows the borrower to opt to link the interest rate to some sustainability targets (KPIs) to be set with the advise of the ESG Structuring Banks. KPIs – this is the rationale of the option scheme – will be set with respect to the new perimeter of Chiesi Group, i.e. including Amryt.