Lundbeck’s Deborah Dunsire didn’t just want an ex-US deal for Alder’s migraine drug. She wanted the whole world
Little Alder had no problem lining up 10 drug companies interested in bidding for the ex-US rights to its CGRP migraine drug — the last place finisher among 4 rivals looking to carve out a piece of the market for a new standard of care in the field. But only one wanted to go one big step further and buy the company, bagging eptinezumab whole in a $2 billion acquisition.
Alder’s execs had made no secret of the fact that they wanted to sign up a partner for their drug. And according to their latest SEC filing, by the end of March they had 5 term sheets in hand — including one from Lundbeck that proved the most compelling. Like the rest, Lundbeck had signed a standstill provision in launching the bidding process and executing a non-disclosure pact. But on March 6 Lundbeck CEO Deborah Dunsire brought up the idea of a strategic deal in an unrelated meeting with Alder board member Clay Siegall, the high-profile CEO at Seattle Genetics.
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