(Reuters) -Denmark’s H Lundbeck A/S has agreed to buy Longboard Pharmaceuticals (LBPH) in a $2.6 billion deal to boost its pipeline of treatments for neuro-rare conditions, sending shares of the US-based company up 43.9% in premarket trading.
The companies said Lundbeck will acquire all of Longboard’s shares for $60 per share, which represents a premium of 54.2% to the stock’s last close of $38.90.
Longboard’s lead drug candidate, bexicaserin, for seizures associated with a group of epilepsies is in late-stage development.
(Reporting by Manas Mishra and Puyaan Singh in Bengaluru; Editing by Shinjini Ganguli)
EMEA Tribune is not involved in this news article, it is taken from our partners and or from the News Agencies. Copyright and Credit go to the News Agencies, email news@emeatribune.com Follow our WhatsApp verified Channel
