Denmark's Lundbeck to buy Longboard Pharma in $2.6 billion deal (updated)

H Lundbeck A/S

14/10/2024 11:48

(Adds shares in paragraph 1, details throughout)
       Oct 14 (Reuters) - Denmark's H Lundbeck A/S  HLUNb.CO 
has agreed to buy Longboard Pharmaceuticals  LBPH.O  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)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manaswrites15;))