Lundbeck launches Selincro in Italy

26 September 2013

Danish CNS drug specialist Lundbeck (LUN: CO) has brought Selincro (nalmefene) on the market in Italy. Selincro, developed by Finland’s Biotie Therapies (Nasdaq OMX: BTH1V), is indicated for the reduction of alcohol consumption in adult patients with alcohol dependence.

The news pushed Biotie shares up 2.9% to 0.36 euros in mid-morning trading today, while Lundbeck edged 0.4% higher to 119.20 Danish kroner by mid-afternoon.

According to the terms of the license agreement between Biotie and Lundbeck for Selincro, Biotie is eligible for a milestone payment of 2 million euros ($2.7 million) related to the market entry. Lundbeck will continue the rollout of Selincro in additional European markets through 2013 and into 2014.

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