By agreeing to buy US-based Alder BioPharmaceuticals Inc. in a cash transaction worth up to $1.95bn, Lundbeck Inc. has taken a big step in rebuilding its portfolio pipeline. More M&A activity is likely to follow in future, the Danish mid-cap CNS player’s CEO told Scrip in an interview.
Lundbeck will buy Alder BioPharmaceuticals for $18 per share in cash, a price representing a 79% premium to the Alder stock’s previous close on 13 September, along with one non-tradeable Contingent Value Right (CVR) for $2 per share upon approval of Alder’s experimental migraine therapy