H. Lundbeck to Purchase Chelsea Therapeutics for $658 Million
H. Lundbeck said it will acquire Chelsea Therapeutics for $658 million, and pick up Chelsea’s recently approved Northera (droxidopa), a drug aimed at treating the rare neurological disease symptomatic neurogenic orthostatic hypotension (NOH).
Chelsea’s board of directors approved the deal that is expected to close in the third quarter of 2014, the companies said.
The FDA on Feb. 18 approved Northera, which is set to launch later this year.
“Lundbeck's expertise in commercializing rare disorder CNS [central nervous system] products will enable a rapid and successful launch of Northera into the U.S. market and ultimately will provide added benefit to patients suffering from NOH," said Joseph Oliveto, president and CEO of Chelsea.
Northera will bolster Lundbeck’s already strong portfolio of neurologic drugs that includes Onfi (clobazam) for seizures in patients with Lennox-Gastaut syndrome; Sabril (vigabatrin), a seizure treatment for epilelsy; and Xenazine (tetrabenazine) for chorea or involuntary movements associated with Huntington’s disease.
According to Lundbeck, Norhtera is the first and only therapy approved by the FDA to demonstrate benefits in adult patients with NOH caused by dopamine beta hydroxylase deficiency, non-diabetic autonomic neuropathy and primary autonomic failure — such as in Parkinson's disease. — Kellen Owings
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