Issue Date: May 12, 2014
Lundbeck To Buy Chelsea Therapeutics
Lundbeck, the Danish drug firm specializing in neurological and brain diseases, has agreed to acquire Charlotte, N.C.-based Chelsea Therapeutics for $530 million up front. The firm will pay Chelsea shareholders an additional $128 million if Chelsea’s FDA-approved Northera meets unspecified commercial milestones by 2017. Northera is a treatment for light-headedness in adult patients with symptomatic neurogenic orthostatic hypotension caused by autonomic failure, a condition associated with Parkinson’s disease.
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