UPSHER-SMITH ANNOUNCES DEVELOPMENT AGREEMENT WITH LUNDBECK

Upsher-Smith Laboratories, Inc. (Upsher-Smith), a fully integrated pharmaceutical company committed to the development of new treatments for diseases of the central nervous system, today announced that its UK subsidiary, Proximagen Limited, has entered into a preclinical development agreement with Denmark-based H. Lundbeck A/S (Lundbeck) to further its research program related to protein kinase inhibitors. This transaction is part of Upsher-Smith’s long-term strategy to advance its current product portfolio of branded drugs. Specific terms related to the deal have not been disclosed. “Upsher-Smith is pleased to announce today’s development agreement with Lundbeck. We are very impressed with the world-class research conducted by Lundbeck and excited about the opportunity to bring a new therapy forward that may benefit patients,” said Mark Evenstad, President and Chief Executive Officer of Upsher-Smith. “Forming successful alliances is a key strategic objective for Lundbeck. We share Upsher-Smith’s commitment to develop therapies that may have the potential to improve the lives of people living with challenging medical conditions,” said Ulf Wiinberg, Chief Executive Officer of Lundbeck.