Lundbeck and Myriad agree Flurizan European commercialisation rights

Lundbeck has acquired from Myriad Genetics the commercialisation rights to Flurizan, an Alzheimer’s treatment, currently in its phase III development.

It is hoped that the treatment has the ability to delay disability in patients with Alzheimer’s.

Lundbeck will have the rights to sell Flurizan in the EU and several other countries and manage regulation; it has paid Myriad $100,000 million (50 million pounds) and will pay regulatory approval costs of around $250 million.

It will also make “attractive” milestone payments and buy bulk pharmaceutical materials from Myriad.

Executive vice-president Anders Gersel Pedersen, head of drug development at Lundbeck said: “Flurizan has the potential to bring an important new Alzheimer’s medicine to patients in Europe.

“Lundbeck is fully committed to the field of Alzheimer’s disease and this partnership further demonstrates that commitment.”

Myriad president and chief executive Peter Meldrum praised Lundbeck’s reputation and the agreement furthered the company’s aim to achieve global commercialisation for the drug.

The NHS says it is unusual to develop Alzheimer’s prior to the age of 65 but it still affects about one in every 1,000 people aged 65 or under.