JMP Securities Downgrades Chelsea Therapeutics (CHTP) to Market Perform

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Lundbeck to Acquire Chelsea Therapeutics

May 8, 2014 7:54 AM EDT

By acquiring Chelsea Therapeutics, Lundbeck gains the rights to Chelsea Therapeutics' recently FDA-approved product, NORTHERATM (droxidopa), which is expected to be launched later in 2014 NORTHERA is an orphan neurology opportunity with strong commercial and strategic fit with Lundbeck's existing U.S. neurology franchise Chelsea stockholders are entitled to USD 6.44 per share in cash and CVRs that may pay up to USD 1.50, for a total potential consideration of up to USD 7.94 per share, or USD 658 million on a fully diluted basis The offer provides Chelsea stockholders with immediate and certain... More