H. Lundbeck A/S (LUN.CO, LUN DC, HLUYY), a Valby, Denmark-based global pharmaceutical company specialized in brain diseases, is to acquire Alder BioPharmaceuticals (NASDAQ: ALDR), a Bothell, Washington, USA-based company committed to advancing migraine treatment and prevention, in a transaction valued at up to USD 1.95 billion net of cash.
Lundbeck expects to fund the acquisition through existing cash resources and bank financing.
The deal aims to enhance Lundbeck’s portfolio of brain disease therapies with Alder’s complementary intravenous (IV) therapy for migraine prevention, eptinezumab.
Eptinezumab is an investigational monoclonal antibody (mAb) for migraine prevention targeting the calcitonin gene-related peptide (CGRP) with a PDUFA action date of 21 February 2020. If approved, eptinezumab will be the first-to-market IV CGRP therapy for migraine prevention in the U.S.
Lundbeck intends to develop and launch eptinezumab worldwide. The U.S. launch, anticipated in 2020, will accelerate and diversify Lundbeck’s revenue growth, consistent with the strategy announced in February 2019.
Led by Dr. Deborah Dunsire, President and CEO, Lundbeck is a global pharmaceutical company specialized in brain diseases. The company has approximately 5,500 employees in more than 50 countries engaged in the entire value chain throughout research, development, production, marketing and sales. Its pipeline consists of several R&D programs and our products are available in more than 100 countries.
Lundbeck generated revenue of DKK 18,1 billion in 2018 (EUR 2,4 billion; USD 2,8 billion).
Led by Bob Azelby, president and chief executive officer, Alder BioPharmaceuticals is a clinical-stage biopharmaceutical company focused on transforming migraine treatment through the discovery, development and commercialization of novel therapeutic antibodies. Its lead product candidate, eptinezumab, is an investigational monoclonal antibody (mAb) delivered by infusion that inhibits the calcitonin gene-related peptide (CGRP) for the prevention of migraine. If approved by the U.S. Food and Drug Administration, it will be the first quarterly, anti-CGRP infusion therapy for migraine prevention.
Alder is also developing ALD1910, a preclinical mAb that inhibits pituitary adenylate cyclase-activating polypeptide-38 (PACAP-38) for migraine prevention.