On Oct. 22, 2019, Lundbeck, located in Valby, Denmark, announced it had completed its acquisition of Bothell, Washington-based Alder BioPharmaceuticals for $1.95 billion. The acquisition of Alder supported Lundbeck’s aim to deliver long-term sustainable growth and is consistent with capital allocation priorities.

Alder was developing eptinezumab for the preventive treatment of migraine in adults.  The company had submitted a Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for eptinezumab in February 2019 and the FDA has set a Prescription Drug User Fee Act (PDUFA) action date of February 21, 2020.