Lundbeck enters migraine race with $2B takeout of Alder

Lundbeck will add a CGRP inhibitor to its neurology pipeline by buying Alder for just shy of $2 billion, but the Scandinavian pharma will be playing catch-up as eptinezumab will likely be fourth among drugs in its class.

On Monday the companies said H. Lundbeck A/S (CSE:LUN) will acquire Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) for up to $20 per share, or about $1.95 billion on a fully diluted basis, net of cash. The price is a 99% premium to Alder's close at $10.06 on Friday. ...