Lundbeck, Otsuka add AD compound to 2011 deal

H. Lundbeck A/S (CSE:LUN) granted Otsuka Pharmaceutical Co. Ltd. (Tokyo, Japan) co-development and co-commercialization rights to Lu AE58054 in the U.S., Canada, East Asia, major European countries and Nordic countries. The selective serotonin (5-HT6) receptor antagonist is in Phase II testing for Alzheimer's disease, with a Phase III program slated to start this year. Lundbeck will receive $150 million up front and is eligible for up to $675 million in milestones. The companies will share development and commercialization costs. Lundbeck gained DKK8.85 (9%) to DKK108 on Tuesday. ...