Milan-based Recordati SpA has proposed acquiring the global specialty pharma Eusa Pharma Ltd., a specialist in rare and niche oncology, for about €724 million (US$817.5 million) net of around €26 million in debt Eusa held at last report, midyear. The transaction offers Recordati a "great growth opportunity" while giving it the chance to "build scale in a new-for-us and very attractive and underserved therapeutic area," thus providing further diversification for Recordati's existing rare diseases business, said Chairman Andrea Recordati.
With the FDA approval of Novartis AG’s Isturisa (osilodrostat), an oral treatment for adults with Cushing’s disease, Recordati SpA, of Milan, is planning its U.S. market launch for the second or third quarter of this year. Recordati, which acquired Isturisa’s worldwide rights from Novartis in October for $390 million, expects sales to peak at $100 million annually.
The Cushing's syndrome market is heating up with three second-generation drugs in late-stage development to join the two approved medications, Signifor (pasireotide, Recordati SpA) and Korlym (mifepristone, Corcept Therapeutics Inc.), as well as a couple of off-label options.