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Denmark’s H. Lundbeck to Acquire Longboard Pharmaceuticals for $2.6 Billion in an All-Cash Deal

  • October 14, 2024

LBPH Merger

H. Lundbeck A/S entered into a merger agreement on October 14, 2024, to acquire U.S.-based Longboard Pharmaceuticals, Inc. (LBPH) in a $2.6 billion cash deal, marking the Danish drugmaker’s biggest deal ever as it looks to strengthen its lineup with a potential breakthrough epilepsy drug.

Deal Structure:

Under the terms of the agreement, Lundbeck will commence a tender offer for all outstanding shares of Longboard common stock, in which Longboard shareholders will be offered a cash payment of $60 per share, representing a 54.24% premium from the stock’s last close.

Company Profile:

Longboard is a clinical-stage biopharmaceutical company developing innovative treatments for neurological diseases, with its lead product, bexicaserin (LP352), in Phase III trials for seizure disorders like developmental and epileptic encephalopathies.

Lundbeck is a Denmark-based biopharmaceutical company dedicated to brain health, developing innovative treatments for neurological and psychiatric disorders, with a focus on addressing complex conditions where few or no treatments exist.

Deal Details and Timeline:

The deal, expected to close in the fourth quarter of 2024, expands Lundbeck’s portfolio of treatments for neurological conditions, including Parkinson’s disease, migraines, and Alzheimer’s disease.

Lundbeck expects global peak sales of $1.5 billion to $2 billion from Longboard’s lead drug, bexicaserin, which it aims to launch by late 2028.

The company plans to seek approval for the drug to treat seizures linked to a group of rare epilepsies called Developmental and Epileptic Encephalopathies (DEE), which mainly affect children. DEE syndromes impact about 220,000 people in the U.S.

Bexicaserin is in advanced development for treating seizures caused by Dravet syndrome and other DEEs, including Lennox-Gastaut syndrome.

Deal Metrics:

To explore the finer details of this M&A transaction, please visit the Deal Metrics page:

Deal Metrics for the acquisition of Longboard Pharmaceuticals, Inc. (LBPH) by Lundbeck A/S .

The Deal Metrics page provides comprehensive insights into every merger or acquisition, including:

  • Spread history chart from the announcement to the completion or failure of the merger.
  • Progress of the merger through the HSR period, regulatory approvals, shareholder votes, etc.
  • News and SEC filings related to the deal.
  • A record of deal updates.
  • And much more.

Disclaimer: This article is intended for informational purposes only. It is crucial to conduct your own research and due diligence before making any decisions related to the buying or selling of any securities mentioned in this article. We do not guarantee the accuracy or completeness of the data provided in this article.

Editor’s Note: Baranjot Kaur contributed to this article