LifeHealth, NeuronIcon, Lundbeck deal

H. Lundbeck acquired LifeHealth for $147 million in cash. The pharma said the deal will reduce the royalties paid to third parties on Xenazine tetrabenazine to 40-47% from 65-72%. LifeHealth has a 25% share of sales less production costs for Xenazine in U.S. and Canada, and 50% of ex-North American sales. Lundbeck gained U.S. rights to Xenazine through its acquisition of Ovation Pharmaceuticals Inc., which received U.S. rights from Prestwick Pharmaceuticals Inc. Prestwick, which was acquired by Biovail Corp. (TSX:BVF; NYSE:BVF, Mississauga, Ontario) last year. Prestwick had U.S. and Canadian rights from Cambridge Laboratories Ltd. (Dublin, Ireland). In 1996, Cambridge received worldwide rights to tetrabenazine from LifeHealth. Xenazine is marketed in the U.S. to treat chorea associated with Huntington's disease (HD).

The selective inhibitor of vesicular monoamine transporter 2 (VMAT2) is marketed as Nitoman in Canada to treat hyperkinetic movement disorders, and is also approved in Australia, France, Germany, Ireland and the U.K. ...