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Lundbeck Inc. have increased their share of Xenazine (tetrabenazine) by agreeing a deal to buy all shares of LifeHealth, the company that owns the rights to the product used to treat sufferers of chorea.
The USD 147 million deal gives Lundbeck the opportunity to enhance its marketing and selling power in the US. Prior to the transaction, UK company LifeHealth owned approximately 25 per cent of US and Canadian sales, an economic share that Lundbeck expects to generate USD 250 million from through potential sales.
Ulf Wiinberg, President and CEO at Lundbeck said, “Xenazine is the only FDA-approved product for patients suffering from chorea associated with Huntington’s disease and we are very encouraged by what our U.S. subsidiary, Lundbeck Inc., has achieved since they launched Xenazine in the US at the end of last year. This new transaction strengthens Lundbeck’s US platform and materially improves the earnings outlook in the US.”
Xenazine was launched in USA in November 2008 as treatment for chorea, which is associated with Huntington’s disease and from which approximately 25,000 US patients suffer.