Lundbeck announced that it acquired Alder BioPharmaceuticals, a company specialized in the development of therapies indicated for the treatment of migraine.
Lundbeck is expecting to enhance its portfolio related to brain diseases with the inclusion of intravenous (IV) therapy eptinezumab. Eptinezumab is a monoclonal antibody for migraine treatment. The drug acts by targeting calcitonin gene-related peptide. Lundbeck will develop and launch the product worldwide; the product is expected to be available in the US market by 2020.
The acquisition is worth of USD 1.95 billion net of cash.
According to the agreement, Lundbeck will pay USD 18.00 per share. Also, as per non-tradeable Contingent Value Right, shareholders will receive an addition USD 2.00 upon the approval by the European Medicines Agency (EMA)
Alder is a biopharmaceutical company specialized in developing brain therapies. Eptinezumab is a monoclonal antibody indicated for migraine and is specialized to target suppression of calcitonin gene-related peptide (CGRP), a neuropeptide, which is involved in initiating the migraine attacks. The company is also developing ALD1910, which acts by inhibiting pituitary adenylate cyclase-activating polypeptide.