Lundbeck Buys Stake In Biotie, Revises Selincro Licensing Deal
News: Danish drug major Lundbeck has invested approximately US$12.6mn in Finland-based pharmaceutical firm Biotie Therapies to acquire a stake in the latter. The investment represents 4.6% of the total equity capital in Biotie and a 25% premium to its share price on September 6 2012. The transaction also includes reduction in royalty rates on alcohol dependence drug Selincro (nalmefene) in countries outside Europe and the US to facilitate the drug's launch in these markets by Lundbeck. Biotie is entitled to receive an additional sales milestone payment of approximately US$6.4mn in Japan. The worldwide development and commercialisation rights to Selincro are currently held by Lundbeck.