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Denmark's Lundbeck to buy Longboard Pharma in $2.6 billion deal
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Denmark's Lundbeck to buy Longboard Pharma in $2.6 billion deal
Oct 14, 2024 4:19 AM

Oct 14 (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 U.S.-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)

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