September 16, 2019 / 6:12 AM / a month ago

Lundbeck to buy migraine treatment developer Alder BioPharmaceuticals

COPENHAGEN, Sept 16 (Reuters) - Danish pharmaceutical company Lundbeck will acquire Alder BioPharmaceuticals in a deal valued at almost $2 billion, the company said in a statement on Monday.

The deal, expected to close in the fourth quarter of this year, will be funded through existing cash resources and bank financing, Lundbeck said.

Alder develops preventative treatments of migraine in adults and has submitted a Biologics License Application for its eptinezumab antibody to the FDA in February this year.

Lundbeck will buy outstanding shares of Alders in an upfront payment of $18 per share.

The board of Alders has approved the transaction unanimously. (Reporting by Nikolaj Skydsgaard Editing by Shri Navaratnam)

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