Lundbeck says buys LifeHealth

COPENHAGEN (Reuters) - Danish pharmaceuticals group Lundbeck (LUN.CO) is to buy Britain-based drugs firm LifeHealth for $147 million (91 million pounds) to gain access to a treatment for a symptom of Huntington's disease.

Lundbeck said on Tuesday while the acquisition would have a positive impact on earnings before interest, tax, depreciation and amortisation (EBITDA), it was maintaining its 2009 guidance.

Lundbeck, which has forecast 2009 EBITDA of 3.5-3.7 billion Danish crowns (405 - 428 million pounds), said it now expected EBITDA at the higher end of that range.

Lundbeck shares were up 2.5 percent to 103.50 crowns by 10:35 a.m., outperforming a 1.2 percent gain in the Copenhagen bluechip index and a 0.3 percent fall in the DJ Stoxx European drugs sector index .SXDP.

LifeHealth hold rights to Xenazine, also called tetrabenazine, which is a treatment for chorea, a symptom associated with Huntington's disease. The acquisition follows Lundbeck's March purchase of Ovation Pharmaceuticals to get into the U.S. market for Xenazine, Lundbeck said.

LifeHealth has about 25 percent of the sales in the United States and Canada of Xenazine and about 50 percent of non-North American sales of the product to distributors, Lundbeck said.

"By acquiring LifeHealth, Lundbeck substantially increases its economic share of the tetrabenazine asset and retains certain rights to all future indications, including the controlled-release formulation currently in development," it said.

The drug was launched in the United States for treatment of the condition in November 2008, Lundbeck said. "Xenazine is expected to provide significant revenue contribution to Lundbeck and Lundbeck expects the U.S. sales potential to be more than $250 million," it said.

Also on Tuesday, Lundbeck said it was to buy small Danish biotech firm NeuronIcon for an undisclosed sum to gain technologies for treatment of brain damage.

(Editing by Dan Lalor)