December 14, 2012 / 7:41 PM / in 5 years

Lundbeck says to divest noncore products to Recordati

COPENHAGEN, Dec 14 (Reuters) - Danish pharmaceutical group Lundbeck on Friday said it agreed to divest a number of noncore products to Italy’s Recordati Industria Chimica e Farmaceutica SpA.

Lundbeck said in a statement the products to be divested did not focus on psychiatric and neurological disorders, which Lundbeck has chosen for its main long-term strategy.

At closing of the sale, expected in the first quarter of 2013, Lundbeck would receive $80 million, with an additional payment of up to $20 million upon product registration transfer, the company said.

The sale would have no influence on Lundbeck’s financial forecasts for 2012, it said.

Reporting by Copenhagen Newsroom; Editing by Gerald E. McCormick

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