On Oct. 14, 2024, Lundbeck and Longboard Pharmaceuticals announced an agreement for Lundbeck to acquire Longboard for payment of USD 60.00 per share in cash. The transaction is valued at approximately USD $2.6 billion equity value and USD $2.5 billion (approximately DKK 17 billion) net of cash, on a fully diluted basis.

Longboard is a clinical-stage biopharmaceutical company focused on developing novel, transformative medicines for neurological diseases. The board of directors of both companies have unanimously approved the transaction. The transaction is expected to close in the fourth quarter of 2024.