Lundbeck, Alder negotiated ex-U.S. deal before opting for takeout

After soliciting offers from multiple parties to obtain ex-U.S. rights to its migraine treatment, Alder continued to negotiate such a deal with Lundbeck -- while also working out an outright acquisition offer the biotech would accept instead, according to a new regulatory document.

Rather than take an offer that would have yielded hundreds of millions in upfront and relatively near-term cash, Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) chose a path that obviated its need to build U.S. commercialization infrastructure for a planned domestic launch of eptinezumab...