Lundbeck completes acquisition of Chelsea Therapeutics
Lundbeck has completed its acquisition of Chelsea Therapeutics International for $6.44 per share in cash and non-transferable contingent value rights that may pay up to an additional $1.50 per share upon achievement of certain sales milestones.
“The acquisition of Chelsea and its lead therapy NORTHERA is a perfect fit for Lundbeck in the U.S., given our track record supporting people living with central nervous system (CNS) disorders that often are overlooked or misunderstood,” said Staffan Schüberg, president of Lundbeck in the U.S. “Over the past five years, we’ve brought three therapies to the U.S. for people living with rare neurological disorders where there is a significant unmet need—not only for therapies—but for education and resources. Similarly, with today’s announcement, we’re ready to partner with healthcare professionals, advocacy groups and families to support adults living with symptomatic neurogenic orthostatic hypotension.”
Lundbeck expects to make NORTHERA available in the U.S. through specialty pharmacies in fall 2014. NORTHERA was approved by the FDA in February and is indicated for the treatment of orthostatic dizziness, lightheadedness or the “feeling that you are about to black out” in adult patients with symptomatic neurogenic orthostatic hypotension caused by primary autonomic failure (Parkinson's disease, multiple system atrophy and pure autonomic failure), dopamine beta-hydroxylase deficiency and non-diabetic autonomic neuropathy.