Seeking Alpha

More on Chelsea-Lundbeck deal: Lundbeck gains rights to Northera

  • By acquiring Chelsea Therapeutics (CHTP), Lundbeck (HLUKF) gains the rights to Chelsea's Northera treatment for neurogenic orthostatic hypotension, a disease that is associated with neurological disorders such as Parkinson's.
  • Northera recently won FDA approval and is due to be launched later this year.
  • Lundbeck's offer of $7.94 a share comprises $6.44 a share in cash and up to $1.50 of contingent value rights (CVRs) that will be related to Northera's commercial performance.
  • The transaction is expected to close in Q3.
  • Chelsea Therapeutics' shares are +32% at $6.60. (PR)
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Comments (3)
  • User 24072113
    , contributor
    Comment (1) | Send Message
     
    Great News!!!
    8 May 2014, 10:00 AM Reply Like
  • berniespear
    , contributor
    Comments (241) | Send Message
     
    Nice!!
    8 May 2014, 02:16 PM Reply Like
  • holydawn
    , contributor
    Comments (137) | Send Message
     
    any reason to believe short covering will occur above the 6.44 price?
    8 May 2014, 09:15 PM Reply Like
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