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

|About: Chelsea Therapeutics Inte... (CHTP)|By:, SA News Editor

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)