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Lundbeck acquires Alder in $2bn migraine treatment move

Published on 16/09/19 at 11:14am
Lundbeck HQ

Lundbeck is to buy Alder Biopharmaceuticals for $2 billion enhancing its leading portfolio of brain disease therapies through the acquisition of eptinezumab, an investigational monoclonal antibody for migraine prevention.

Under the terms of the agreement Lundbeck will initiate a tender offer for all outstanding shares of Alder, whereby Alder stockholders will be offered an upfront payment for USD 18.00 per share in cash alongside one non-tradeable Contingent Value Right of USD 2.00 per share.

Alder is a clinical-stage biopharmaceutical company committed to transforming migraine treatment through the discovery, development and commercialisation of novel therapeutic antibodies.

Eptinezumab is a monoclonal antibody that is administered as a quarterly 30-minute IV infusion.

Dr. Deborah Dusnire, President and CEO of Lundbeck, said: “Alder is an excellent strategic fit for Lundbeck’s focused expertise in brain diseases and organizational capabilities. This transaction flows from our strategic intent to Expand and Invest to Grow.

“Migraine prevention is an attractive indication for us that leverage our specialized commercial expertise in delivering medicines for brain diseases. We expect the global launch of eptinezumab for the preventive treatment of migraine, as well as the further potential development of the product in additional indications, to accelerate Lundbeck’s growth in the coming years.

Bob Azelby, Alder’s President and CEO, added: “As a global leader in neuroscience research with products registered in more than 100 countries and a strong network of neurology specialists, Lundbeck is the ideal partner to advance Alder’s mission of changing the treatment paradigm for migraine prevention. 

“We believe this positions eptinezumab for a successful launch both in and outside of the United States.

“Looking ahead, we expect Lundbeck will leverage Alder’s expertise in antibody development to explore additional indications for eptinezumab and continue the development of ALD1910.”

ALD1910 is a preclinical monoclonal antibody designed to inhibit pituitary adenylate cyclase-activating polypeptide (PACAP). PACAP has emerged as an important signalling molecule in the pathophysiology of migraine and represents an attractive novel target for migraine prevention.

Nik Kiran

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