Recordati SpA (BIT:REC) entered into an asset purchase agreement to acquire the non-core products portfolio in United States of Lundbeck Inc. for $100 million on December 14, 2012. Under the terms of the asset purchase agreement, Recordati will make an initial payment of $80 million at closing and the remaining payment of $20 million is subject to product registration transfers. Recordati will acquire and retains all of Lundbeck's rights and responsibilities for the manufacturing, distribution and sale of the products. The acquired portfolio will be marketed in the United States by Recordati Rare Diseases. As part of this transaction, Recordati has acquired rights to the following products: 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).

The products represented annual revenues of approximately $45 million in 2011. Lundbeck employees will be joining Recordati further Recordati intends to hire several of the Lundbeck employees. The transaction is subject to applicable antitrust waiting period. The transaction is expected to close at the beginning of 2013. The sale will be booked under other revenue in Lundbeck's accounts. The content of this transaction will have no influence on the Lundbeck Group's financial guidance for 2012. Michael Immordino, Nicholas Lasagna and Ferigo Foscari of White & Case acted as legal advisor for Recordati S.p.A.

Recordati SpA (BIT:REC) completed the acquisition of the non-core products portfolio in United States of Lundbeck Inc. on January 18, 2013.