Mystery solved: Novo Nordisk heir apparent Kåre Schultz didn't just up and leave the Danish drugmaker. He left for the top job at crosstown colleague Lundbeck, vacant since that CEO stepped down in disgrace in November.
Former Teva CEO Jeremy Levin has taken the pilot's seat at a stealth biotech devoted to rare brain diseases and is piloting a course straight into the industry spotlight.
Lundbeck is giving up on its efforts to develop desmoteplase as a treatment for stroke, as disappointing data have made it unclear just how to proceed.
Here's some good news for Lundbeck in an otherwise bleak week: The U.K.'s cost watchdog has endorsed its alcohol-dependence treatment, Selincro.
Last year Lundbeck CEO Ulf Wiinberg got a "gift" of some shares in a biotech called Stratified Medical, a London-based company that bills itself as a partner that can help drug developers more efficiently develop new therapies. And after the gift arrived, Lundbeck invested 19 million Danish krone--a little more than $3 million--into the company.
You breach your company's code of conduct, you're out of the CEO's chair--at least, if you're Lundbeck CEO Ulf Wiinberg. The Danish drugmaker's chief is packing his bags after failing to follow procedures on stock ownership.
Lundbeck has gotten a recommendation from the U.K. cost watchdog for its alcohol-addiction drug Selincro. It is estimated that there are about 600,000 potential users in the U.K. A final decision is slated for fall.
One day after announcing a drop in quarterly sales and profits, Danish drugmaker Lundbeck said it will pick up Chelsea Therapeutics for cash and contingent value rights in a deal worth up to $658 million.
After months of speculation and Wall Street tremulance, Chelsea Therapeutics finally got its buyout deal: Lundbeck has agreed to pick up the biotech for as much as $658 million, provided its banner drug can come through on the sales front.
Biopharma's long-heralded return to R&D ROI may come up short this year, according to EvaluatePharma, and the next class of approved drugs features fewer blockbusters in waiting than in any of the previous four years.