Dechert Advises Chiesi Farmaceutici on Definitive Agreement to Acquire Amryt Pharma for US$1.48 Billion

January 09, 2023

Dechert advised Chiesi Farmaceutici S.p.A. in its definitive agreement to acquire Amryt Pharma Plc in an all-cash transaction valued at US$1.48 billion. The deal is expected to close in the first half of 2023, subject to satisfaction of all closing conditions. Under the terms of the deal, Chiesi will purchase all outstanding shares of Amryt for a purchase price per American Depositary Share of US$14.50 in cash, plus Contingent Value Rights of up to US$2.50.

Chiesi is an international, research-focused biopharmaceuticals group that develops and markets innovative therapeutic solutions in respiratory health, rare diseases, and specialty care. Chiesi is headquartered in Parma (Italy).

Amryt Pharma is a global, commercial-stage biopharmaceutical company dedicated to acquiring, developing, and commercializing novel treatments for rare diseases. Amryt is headquartered in Dublin, Ireland and has its U.S. headquarters in Boston, Massachusetts.

Dechert’s cross-border team was led by corporate partners Alain Decombe, Michael Darby and David Rosenthal, and associates Jodie Valler-Feltham and Rose Limaye. Other members of the team included partners David Passey, Daniel Hawthorne, Kevin Kay, Abbi Cohen, Sean Geraghty, Susan Hendrickson, Carina Klaes-Staudt and Melanie Thill-Tayara; counsels Seth Ray and Francois Quintard-Morenas; and associates Kathryn Alexander, Charles Ashie, Melissa Ayeltigah, Dahila Ibourichene, Joshua Kim, Devyn Kurpis, Beej Radia, Gurbir Sandhu, Dr. Philipp Schöfer, Alexa Serafin and Ryan Yang.

The following teams also advised on the matter: antitrust and competition partners Alec Burnside, Clemens York, James Fishkin, Sophie Pele and Marion Provost, counsel Beverly Ang and associates Penelope Agosta, Margaux Lasseigne, Delphine Strohl and Thirith von Doehren; intellectual property partners Timothy Blank, Chad Davis and Thomas Rayski, and associates Dylan Balbirnie, Anita Hodea, Stephanie Kwan and Madeleine White; labor partners Ian Downes and Thibault Meiers, counsel Emma Byford and associates Sophie Drouliscos and Jennifer Hill; global tax partner Mark Stapleton, and associates Nicolas Kokkinos and Ishani Kundu-Sahni; employee benefits associate Michael Binko; and trial, investigations & securities associates Richard Herstell and Daniel Murdock.

About Dechert

Dechert is a leading global law firm with 21 offices around the world. The firm advises on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.

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