Lundbeck to Acquire Longboard Pharmaceuticals, Strengthening its Neuroscience Portfolio
Shots:
- Lundbeck has agreed to acquire Longboard under a strategic agreement to strengthen its neuro-rare disease portfolio
- As per the agreement, Lundbeck will launch a tender offer to acquire all outstanding Longboard shares for $60 per share in cash, valuing the deal at $2.6B in equity, out of which $2.5B is net of cash (~DKK 17B). It is expected to conclude in Q4’24
- The acquisition will add bexicaserin (5-HT2C agonist), being developed to treat seizures in Dravet syndrome, Lennox-Gastaut syndrome & other rare epilepsies, to Lundbeck’s portfolio. It is in a global P-III (DEEp SEA) trial as part of the DEEp program (DEEp SEA, DEEp OCEAN & DEEp OLE) that will enroll ~480 subjects across 80 sites globally, with its launch planned in Q4’28
Ref: Lundbeck | Image: Longboard Pharmaceuticals
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Disha is a content writer at PharmaShots. She is passionate and curious about recent updates and developments in MedTech and Pharma industry. She covers news related to clinical trial results and updates. She can be contacted at connect@pharmashots.com.
