Angelini Pharma

What Angelini Pharma does

Angelini Pharma is a privately-held Italian pharmaceutical company founded in 1919 in Ancona and headquartered in Rome, operating as the pharmaceutical division of family-controlled Angelini Industries. The company develops, manufactures and commercializes prescription drugs, consumer healthcare products and medical devices across three therapeutic pillars: Brain Health (epilepsy, mental health, rare neurodevelopmental disorders), Specialty and Primary Care, and Consumer Health. Core proprietary assets include original small-molecule drugs trazodone (Trittico) and benzydamine (Tantum Verde/Rosa), the antiepileptic cenobamate (Ontozry) commercialized via a long-standing partnership with SK Biopharmaceuticals, the flagship Italian OTC brand Tachipirina, and the global ThermaCare heat-wrap franchise acquired from GSK in 2020. The R&D platform combines 50+ years of CNS drug-discovery experience, more than 120 researchers, a €62M 2024 R&D investment, and an AI-driven drug-discovery collaboration with Quiver Bioscience targeting Developmental and Epileptic Encephalopathies.

The company runs an integrated manufacturing footprint of four certified plants (Ancona 150M packs/year, Aprilia 140,000 L/year of APIs, Albany GA 80M+ ThermaCare wraps/year, Barcelona 3M Juanola units/year) supported by quality systems certified to ISO 9001, 13485, 14001 and 45001. Distribution is hybrid: a direct salesforce of ~1,000 representatives covering 20 countries (Italy, Spain, Germany, France, UK, US, Austria, Bulgaria, Czech Republic, Greece, Hungary, Poland, Portugal, Romania, Russia, Slovakia, Sweden, Switzerland, Turkey, Netherlands) and an out-licensing/export network of 40+ international partners (Sanofi, MSD/Pfizer, Aché, EIPICO, Teva, Mylan, iNova) reaching more than 70 countries. The pricing model is B2B pharma — negotiated via national tenders, hospital formularies and reimbursement authorities — with no public price list.

FY2024 consolidated revenue was €1,207.3 million (+3.6% YoY) with EBITDA of €302.4 million (25% margin, +14% YoY); 50.6% of revenue was international. Headcount stands at approximately 3,000 across the group, of which roughly 942 are based at the four manufacturing sites. In May 2026 Angelini announced a $4.1 billion (€3.5 billion) all-cash acquisition of Catalyst Pharmaceuticals (close expected Q3 2026), which would add FDA-approved Firdapse, Agamree and Fycompa to the Brain Health portfolio, introduce direct US commercial infrastructure, and be co-funded by Italian state development bank CDP Equity via a minority stake. Ownership remains family-controlled through Angelini Industries, with a new CEO (Sergio Marullo di Condojanni) and refreshed C-suite appointed in January-February 2026 to lead the next phase.

Name

Angelini Pharma

Legal name

Angelini Pharma S.p.a.

Website

https://angelinipharma.com

Company type

Private

Founded year

1919

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Angelini Pharma is a privately-held Italian pharmaceutical company founded in 1919, generating €1.2 billion in annual revenue across Brain Health, Specialty Care and Consumer Health. It serves 70+ countries through direct operations in 20 markets, with a focus on CNS drugs and a pending US entry via the $4.1B Catalyst acquisition.

Ownership category

akta.pro rank

Product category

Pharmaceuticals

NAICS

Pharmaceutical and Medicine Manufacturing (3254)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Primary Care & General Medicine Pharmaceuticals (HLAIAAAA)

akta.pro secondary industries

Cardiometabolic Pharmaceuticals (Cardiovascular/Diabetes/Obesity) (HLAIAAAE), Pain Management & Anesthesiology Pharmaceuticals (HLAIAAAN), Ophthalmology Pharmaceuticals (HLAIAAAL)

Keywords

• Pharmaceutical products
• Consumer healthcare brands
• Epilepsy treatments
• Mental health therapeutics
• Specialty care pharmaceuticals

Headquarters

HQ city

Rome

HQ country

Italy

HQ region

Europe

Offices22 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Supply Chain, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Pharmaceutical product sales (prescription Rx): Direct sales of prescription drugs in core therapeutic areas — Brain Health/Epilepsy (cenobamate/Ontozry), Mental Health (trazodone/Trittico, lurasidone/Latuda), Pain/Inflammation (benzydamine-based brands, Vellofent), Anti-infectives and Specialty/Primary care. Salesforce-driven model in 20 direct markets with recurring prescription revenue. FY2024 revenues of €1,207.3 million (+3.6% YoY).
2. Consumer Health (OTC) product sales: Direct sales and licensing of OTC/Consumer Health brands including ThermaCare (self-heating heat wraps), Tantum Verde (sore throat), Tantum Rosa (gynaecological), Tachipirina (paracetamol), Moment (ibuprofen), Acutil, Aulin, and Pastillas Juanola. Recurring OTC revenue across multiple countries. (Note: in 2025 Angelini transferred Amuchina and Infasil brands to Fater.)
3. Out-licensing royalties and export agreements: Revenue from licensing out proprietary molecules (benzydamine, trazodone) and finished formulations to more than 40 international partners (e.g. Sanofi in Mexico, EIPICO in Egypt, Apsen in Brazil, MSD/Pfizer in Japan, Verfora in Switzerland, Mylan in UK/Ireland). Generates royalty and supply revenues from more than 70 countries.
4. Strategic R&D collaboration milestones (in-licensing): Multi-year research collaboration and licensing agreements generating milestone payments, royalties and option fees. Examples: Quiver Bioscience deal (up to $120M in milestones plus royalties for genetic epilepsy targets), GRIN Therapeutics (radiprodil outside North America), Cureverse (CV-01 brain health asset), Sovargen (preclinical neuro asset, $550M).

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Core offering

Angelini Pharma is an Italian pharmaceutical company that researches, develops, manufactures, and commercialises prescription drugs and consumer healthcare products, with a strategic focus on Brain Health (epilepsy, mental health), Specialty and Primary Care, and Consumer Healthcare. The company owns original molecules (trazodone, benzydamine), runs four production sites, and distributes its products in more than 70 countries through direct sales organisations and an out-licensing network.

Differentiator

Problem solved

Functional benefit

Brands

• Tachipirina: Anti-flu drug based on paracetamol; one of the top three medicines sold in Italy and most frequently prescribed by paediatricians.
• Tantum Verde
• ThermaCare
• Ontozry
• Latuda
• Trittico
• Acutil
• Aulin
• Pastillas Juanola
• Tantum Rosa
• Vellofent
• Xydalba

Products and services

• Ontozry (cenobamate) Innovative antiepileptic prescription drug for focal-onset seizures; core asset of the Brain Health franchise; commercialised in partnership with SK Biopharmaceuticals.
• Tachipirina (paracetamol) Flagship OTC analgesic/antipyretic brand based on paracetamol, available as tablets, granules, syrup and oral drops; one of the top three medicines sold in Italy and the most frequently prescribed drug by paediatricians.
• Tantum Verde (benzydamine)
• Tantum Rosa (benzydamine)
• Trittico (trazodone)
• ThermaCare Self-heating heatwraps marketed as Advanced Pain Therapy Heatwraps; global consumer health brand; produced at the Albany, Georgia plant at more than 80 million wraps per year capacity.
• Latuda (lurasidone hydrochloride)
• Vellofent (fentanyl)
• Aulin (nimesulide)
• Xydalba (dalbavancin)
• Importal (lactitol)
• Unidrox (prulifloxacin)
• Acutil
• Pastillas Juanola
• Firdapse (amifampridine) FDA-approved therapy for Lambert-Eaton myasthenic syndrome (LEMS); expected to generate approximately $358.4M in 2025 revenue; targeted acquisition product.
• Agamree FDA-approved treatment for Duchenne muscular dystrophy; Q1 2026 revenue of $36.7 million.
• Fycompa (perampanel) FDA-approved antiepileptic drug added to Angelini's portfolio through the Catalyst acquisition.

Quantifiable outcome

• €1,207.3M revenue and €302.4M EBITDA in 2024 (25% margin, +14% YoY)
• +5 more outcomes

Named customers2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature6 records

Partnerships

20 partnerships are on record, tiered strategic — enterprise ai deployment, flagship — largest deal in company history (>4× previous 2021 acquisition); transformational us market entry, strategic — multi-year pipeline expansion into rare genetic epilepsies, strategic — large technology transfer deal ($550m) for epilepsy candidate svg105, strategic — major preclinical neuro asset deal (~$550m), minor — consumer brand divestment, strategic — exclusive ex-north america rights to phase 3 asset, strategic — exclusive global option on clinical-stage brain health asset, strategic — academic co-development partner for sustainability initiative, strategic — biologics platform partnership for cns / rare diseases, flagship — long-standing commercialization partner for cenobamate/ontozry across europe, minor — historical cns-focused acquisition, minor — historical acquisition of consumer brand, strategic — primary international expansion channel, minor — research network partnership, minor — pediatric clinical trial cooperation, minor — industry association membership, minor — eu-funded research consortium stakeholder, minor — regional personalized medicine platform partner and minor — eu-funded horizon europe sustainability consortium.

• Anthropicstrategic — enterprise ai deploymentTechnology or Integration · 27 May 2026Angelini Pharma listed as one of Anthropic's early Italian enterprise customers alongside Generali Group, Unipol Group, Bracco Group, Enel Group and Pirelli as Anthropic opened its sixth European office in Milan to support Italian enterprises, researchers and developers building with Claude. Part of broader Italian industry AI rollout.
• Catalyst Pharmaceuticals, Inc. (Nasdaq: CPRX)flagship — largest deal in company history (>4× previous 2021 acquisition); transformational us market entryStrategic or Co-development Partner · 7 May 2026Definitive agreement to acquire Catalyst Pharmaceuticals for ~$4.1 billion (€3.5 billion) in cash at $31.50/share (28% premium to 30-day VWAP). Adds Firdapse (Lambert-Eaton myasthenic syndrome, $358.4M 2025 revenue), Agamree (Duchenne muscular dystrophy), and Fycompa (antiepileptic) to portfolio. Expected close Q3 2026, pending stockholder and regulatory approvals. Marks Angelini Pharma's formal entry into the US pharmaceutical market. Co-funded by Italian state development bank CDP Equity via minority stake in Angelini.
• Quiver Biosciencestrategic — multi-year pipeline expansion into rare genetic epilepsiesStrategic or Co-development Partner · 23 February 2026Multi-year collaboration and licensing agreement to discover and advance novel therapeutics for Developmental and Epileptic Encephalopathies (DEEs), a group of rare genetic diseases causing severe treatment-resistant seizures in children. Quiver receives undisclosed upfront payment plus milestone payments up to $120 million and royalties upon Angelini's election of identified drug targets. Angelini receives exclusive global license rights to drug targets generated through the collaboration. Combines Quiver's AI-powered drug discovery platform (human iPSC-derived neuronal models, single-cell transcriptomics, optical electrophysiology) with Angelini's brain health expertise.
• SobaGenstrategic — large technology transfer deal ($550m) for epilepsy candidate svg105Strategic or Co-development Partner · 1 February 2026Technology transfer / licensing deal worth $550 million for epilepsy drug candidate SVG105 from Korean biotech SobaGen. The deal valued SobaGen at approximately 108 billion won pre-money and triggered a 12.3 billion won pre-IPO investment round in Korea. Strengthens Angelini's epilepsy pipeline.
• Sovargenstrategic — major preclinical neuro asset deal (~$550m)Strategic or Co-development Partner · 22 September 2025Exclusive option agreement to license global development and commercialization rights for an innovative Brain Health asset from Sovargen. $550 million deal value for the preclinical neuro asset, expanding Angelini's strong portfolio and deep therapeutic expertise in brain health.
• Faterminor — consumer brand divestmentStrategic or Co-development Partner · 16 July 2025Agreement reached for the transfer of the Amuchina® and Infasil® brands from Angelini Pharma to Fater, as part of Angelini Pharma's global development strategy of focusing on consumer healthcare and investing in specialty care with focus on Brain Health.
• GRIN Therapeuticsstrategic — exclusive ex-north america rights to phase 3 assetStrategic or Co-development Partner · 27 May 2025Exclusive collaboration to develop and commercialize radiprodil, an investigational compound for GRIN-related neurodevelopmental disorder, outside North America. Combines Angelini Pharma's global reach and focus on neurological disorders with GRIN's expertise in precision therapies for neurodevelopmental conditions. As of January 2026, first patient has been dosed in the global Phase 3 Beeline trial; Angelini supports future accessibility of radiprodil outside North America.
• Cureverse Inc.strategic — exclusive global option on clinical-stage brain health assetStrategic or Co-development Partner · 21 October 2024Exclusive option agreement to license global development and commercialization rights for CV-01, a novel and innovative clinical-stage compound with broad potential to treat brain health diseases. Strengthens Angelini's Brain Health pipeline alongside Ontozry/cenobamate and lurasidone.
• Leiden Universitystrategic — academic co-development partner for sustainability initiativeStrategic or Co-development Partner · 13 July 2023Three-year research collaboration on the LIFE-GREENAPI initiative to improve the environmental sustainability of pharmaceutical production processes, supported by a €1.5 million grant from the European Commission's LIFE Programme. Re-engineering of API manufacturing processes using flow chemistry technology.
• JCR Pharmaceuticalsstrategic — biologics platform partnership for cns / rare diseasesStrategic or Co-development Partner · 1 January 2023Partnership to develop and commercialize biologic therapies using JCR's proprietary J-Brain Cargo® blood-brain barrier platform technology for neurological and rare diseases, including JR-141 (Hunter syndrome CNS therapy). Leverages JCR's BBB-crossing biologics expertise with Angelini's CNS commercial footprint.
• SK Biopharmaceuticalsflagship — long-standing commercialization partner for cenobamate/ontozry across europeStrategic or Co-development Partner · 1 January 2021Long-standing partnership to bring cenobamate (Ontozry), an innovative antiepileptic molecule, to as many patients as possible in Angelini's markets. As of March 2024, more than 100,000 patients have been treated with this anti-seizure medication through the partnership.
• Arvelle Therapeuticsminor — historical cns-focused acquisitionStrategic or Co-development Partner · 1 January 2021Acquired in February 2021 — a Swiss-based biopharmaceutical company focused on patients suffering from CNS disorders operating in several countries. Arvelle Therapeutics' Transfers of Value have been included in Angelini Pharma Group's disclosures since 2021.
• GSK (GlaxoSmithKline)minor — historical acquisition of consumer brandOEM/ Whitelabel/ Licensing Partner · 1 January 2020Angelini Pharma acquired ThermaCare® global business rights (excluding US) from GSK in March 2020, then acquired the Albany, Georgia plant (US rights) earlier. ThermaCare is now a key global brand in Angelini's Consumer Health portfolio.
• Out-licensing partner network (40+ international licensees)strategic — primary international expansion channelChannel Partner/ Reseller/ DistributorAngelini products (benzydamine/Tantum, trazodone/Trittico, ThermaCare, paracetamol/Tachipirina, prulifloxacin/Unidrox, lactitol/Importal, etc.) commercialised worldwide through licensing-out and export agreements with more than 40 partners including: EIPICO (Egypt), Raz Pharmaceutics (Israel), Sanofi (Mexico), Grossman & Pharmator (Mexico), Casasco (Argentina), Aché (Brazil), Tecnoquimicas (Colombia), Teva (Peru), Scavone (Paraguay), Sama (Korea), iNova (APAC), Soho (Indonesia), Noscat (Central Asia), Verfora (Switzerland), Mylan (UK/Ireland), Zyx (Nordics), Bonifar (Western Balkans), Medicamenta (Albania/Kosovo), Innothec (France), Senosiain (Mexico), Apsen (Brazil), Laboratorios Chile (Chile), Ivax (Uruguay), MSD & Pfizer (Japan), Kukje (Korea), Indrugco (Singapore), Lee's Pharmaceuticals (Hong Kong/Macao), Adamjee (Pakistan), Tecnifar (Portugal), OM Pharma Suisse SA (Benelux), Navamedic (Nordics), Carysfort (Ireland/UK), Cooper (Ireland/UK), Vemedia (Belgium/Luxembourg), Serb (France), Zambon (Switzerland), Crinos (Italy), Sato (Japan), Iwaki (Japan), Gifrer (France), Galephar (Switzerland), Teva (Israel).
• ECNP (European College of Neuropsychopharmacology)minor — research network partnershipStrategic or Co-development PartnerCooperation with leading research networks and working groups in the field of CNS disorders to develop and deliver innovative methodologies and treatments. Includes ECNP and ECNP child and adolescent psychiatry working groups.
• INCiPiT (Italian Network for Paediatric Clinical Trials)minor — pediatric clinical trial cooperationStrategic or Co-development PartnerClose cooperation on the strategy of the Paediatric Investigational Plan of cenobamate and the related regulatory and clinical documentation.
• EUCOPE (European Confederation of Pharmaceutical Entrepreneurs AISBL)minor — industry association membershipStrategic or Co-development PartnerAngelini Pharma is a member of EUCOPE, the voice of innovative pharmaceutical companies in Europe, supporting the purpose of improving and saving the lives of European patients through groundbreaking therapies and medical technology.
• PHARMASEA Consortiumminor — eu-funded research consortium stakeholderStrategic or Co-development PartnerStakeholder of the PHARMASEA project led by Polytechnic University of Marche, integrating 5 European research institutions (Italy, Germany, Norway, Spain) to study occurrence, distribution, fate and biological effects of active pharmaceutical ingredients (APIs) as contaminants of emerging concern for marine ecosystems. Funded under 2020 AquaticPollutants Joint call (ERA-NET Cofund GA 869178).
• MARCHEBIOBANK Platformminor — regional personalized medicine platform partnerStrategic or Co-development PartnerPartner of MARCHEBIOBANK, a collaborative regional platform funded by Marche Region involving 14 partners from business and research sectors implementing personalised medicine activities focused on drugs, diagnostics and new therapeutic approaches for chronic and high-medical-need oncological diseases. Supported by EU POR MARCHE FESR 2014/2020.
• ETERNAL Horizon Europe Consortiumminor — eu-funded horizon europe sustainability consortiumStrategic or Co-development PartnerPartner in 'ETERNAL: Boosting the reduction of the environmental impact of pharmaceutical products throughout their entire life cycle'. Coordinated by AIMPLAS with 16 EU and UK partners. Angelini participates through 2 case studies (substitution of recycled solvents and continuous manufacturing). Project funded under Horizon Europe grant agreement No 101057668.

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Recordati S.p.A. Italian mid-cap specialty pharmaceutical company focused on cardiovascular, urology, and rare diseases; similarly headquartered in Milan, family-controlled until recently, and operates a similar hybrid direct-sales + out-licensing model across Europe and emerging markets. Closest comparable by size, geography, and strategic profile.
• Chiesi Farmaceutici S.p.A. Family-owned Italian multinational pharma headquartered in Parma with similar revenue scale (~€3B group), direct presence across Europe/US, and a specialty-care focus (respiratory, rare diseases, neonatology). Comparable model of family ownership, European mid-cap scale, and M&A-driven growth.
• Menarini Group: Italian privately-held pharma with comparable revenue scale (€4B+), broad therapeutic portfolio (oncology, cardiology, infectious diseases, consumer health), and strong presence in Europe and emerging markets via out-licensing. Closely comparable Italian family-owned European mid-cap pharma.
• Zambon S.p.A. Italian privately-held pharma focused on CNS, respiratory, and pain; similar direct-markets-plus-licensing distribution model and family ownership structure. Closely comparable by therapeutic focus (CNS) and Italian mid-cap profile.
• H. Lundbeck A/S: Danish specialty pharmaceutical company fully focused on CNS (depression, schizophrenia, epilepsy, migraine) with similar in-licensing/out-licensing strategy. Highly comparable Brain Health strategic focus, though public and slightly larger.
• UCB S.A. Belgian specialty pharma with major CNS franchise (epilepsy: Vimpat, Briviact; neurology) and similar revenue scale (~€6B). Comparable specialty pharma model with strong European roots and CNS specialisation.
• Almirall S.A. Spanish-listed mid-cap pharma focused on dermatology and specialty care across Europe; comparable European mid-cap scale, similar specialty-care strategic positioning, and partial therapeutic overlap (pain/inflammation via benzydamine-like products).

Emerging players

• Stada Arzneimittel AG: German-based European specialty pharma (generics + consumer health + specialty) with similar revenue scale (~€4B). Comparable hybrid model of European direct sales plus licensing in emerging markets, though more generics-heavy than Angelini.
• Krka, d. d., Novo mesto: Slovenian specialty pharma with strong presence in Central/Eastern Europe and out-licensing reach to CIS, MENA, and emerging markets. Comparable geographic mix and European mid-cap scale.

Broad incumbents

• Laboratoires Servier: French privately-held pharma with similar revenue scale (~€5B), international footprint, and growing CNS/neuro-oncology focus (e.g., Onivyde, Lonsurf). Comparable European mid-cap family/foundation-owned pharma model with similar M&A history.

Market position

Strengths2 records

Weaknesses1 record

Competitive moat6 records

Key risks7 records

Key highlights8 records

Customer concentration

• Xx.com/AngeliniPhIT
• LinkedInlinkedin.com/company/angelinipharma
• Instagraminstagram.com/angelinipharma
• Facebookfacebook.com/AngeliniPh

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Angelini Pharma