Lundbeck increases its share of Xenazine
Danish pharmaceutical firm Lundbeck has acquired UK-based LifeHealth Limited (formerly Ovation Pharmaceuticals), the holder of the rights to Xenazine (tetrabenazine), a treatment for chorea associated with Huntington\'s disease. The all-cash transaction values LifeHealth at US$147m.
Danish pharmaceutical firm Lundbeck has acquired UK-based LifeHealth Limited (formerly Ovation Pharmaceuticals), the holder of the rights to Xenazine (tetrabenazine), a treatment for chorea associated with Huntington's disease. The all-cash transaction values LifeHealth at US$147m.
By acquiring LifeHealth, Lundbeck substantially increases its market share of Xenazine and retains certain rights to all future indications, including the controlled-release formulation currently in development.
LifeHealth has approximately 25% of Xenazine sales in the US and Canada, which further enhances Lundbeck's opportunities in this market.
"Xenazine is the only FDA-approved product for patients suffering from chorea associated with Huntington's disease and we are very encouraged by what our US subsidiary, Lundbeck Inc, has achieved since it launched Xenazine in the US at the end of last year," says Ulf Wiinberg, president and ceo at Lundbeck. "This new transaction strengthens Lundbeck's US platform and materially improves the earnings outlook in the US."
Xenazine was launched in the US in 2008, where approximately 20,000 to 25,000 patients suffer from chorea associated with Huntington's disease.
Lundbeck expects the US sales potential of Xenazine to be more than US$250m.
