Recordati to buy non-core products of H. Lundbeck

The products include Chemet (succimer), Cosmegen (dactinomycin for injection), Desoxyn (methamphetamine hydrochloride), Elspar (asparaginase), Indocin (indomethacin), Mustargen (mechlorethamine HCL for injection), NeoProfen (ibuprofen lysine), Panhematin (hemin), Peganone (ethotoin) and Tranxene (clorazepate).

Under the terms of the asset purchase agreement, Recordati will be responsible for manufacturing, distributing and sales of the products.

The acquisition of non-core product portfolio will now enable Lundbeck to focus on developing newer products addressing psychiatric and neurological disorders.

Lundbeck president and chief executive officer Ulf Wiinberg said, "The needs of patients are at the core of our decision to divest this portfolio to Recordati, a company we know well through a long-term partnership and whose commitment to maintaining the availability of these products is clearly evident by its desire to hire Lundbeck employees with years of experience working on these therapies."

Lundbeck said that the closing of the transaction is expected to occur at the beginning of 2013, following the applicable antitrust waiting period.