CHARLOTTE, N.C., May 8, 2014 (GLOBE NEWSWIRE) -- Chelsea Therapeutics International, Ltd. (Chelsea) (Nasdaq:CHTP), a biopharmaceutical development company, has entered into a definitive agreement to be acquired by H. Lundbeck A/S (Lundbeck) (LUN.CO) (LUN DC) (HLUYY), a global pharmaceutical company that specializes in brain diseases. The details of this transaction can be found in the joint press release issued by the two companies.
Chelsea Therapeutics' Joseph G. Oliveto, President and Chief Executive Officer, will host a conference call at 9:00 a.m. EDT to discuss the transaction.
To listen to the call, dial (844) 825-0511(domestic) or (708) 290-1372 (international) and enter conference ID 44456258. Please dial in at least five minutes before the scheduled start time. A replay of the call will be available through May 15, 2014, by dialing (855) 859-2056 (domestic) or (404) 537-3406 (international) and entering the passcode 44456258.
The conference call also will be available in the investor relations section of the Company's website, http://chtp.client.shareholder.com/index.cfm.
About Chelsea Therapeutics
Chelsea Therapeutics (Nasdaq:CHTP) is a biopharmaceutical development company that acquires, develops and commercializes innovative products for the treatment of a variety of human diseases, including central nervous system disorders. Chelsea acquired global development and commercialization rights to droxidopa (L-DOPS), or NORTHERA, from Dainippon Sumitomo Pharma Co., Ltd. in 2006, excluding Japan, Korea, China and Taiwan. For more information about the Company, visit www.chelseatherapeutics.com.
Notice to Investors
The tender offer (the "Offer") in connection with the transaction has not yet commenced, and this document is neither an offer to purchase nor a solicitation of an offer to sell any shares of the common stock of Chelsea or any other securities. On the commencement date of the Offer, Lundbeck will file a Tender Offer Statement on Schedule TO, including an offer to purchase, a letter of transmittal and related documents, with the SEC and thereafter Chelsea will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC. Investors and security holders are urged to read both the Tender Offer Statement and the Solicitation/Recommendation Statement regarding the Offer, as they may be amended from time to time, when they become available because they will contain important information. Investors and security holders may obtain a free copy of these statements (when available) and other documents filed with the SEC at the website maintained by the SEC at www.sec.gov or by directing such requests to the Information Agent for the tender offer which will be named in the Tender Offer Statement. Copies of Chelsea's filings with the SEC may also be obtained free of charge at the "Investors" section of Chelsea's website at www.chelseatherapeutics.com.
Safe Harbor/Forward-Looking Statements
The above information contains forward-looking statements that provide our expectations or forecasts of future events such as the tender offer and transactions contemplated by the merger agreement, new product introductions, product approvals and financial performance.
Such forward-looking statements are subject to risks, uncertainties and inaccurate assumptions. This may cause actual results to differ materially from expectations and it may cause any or all of our forward-looking statements here or in other publications to be wrong. Factors that may affect future results include interest rate and currency exchange rate fluctuations, delay or failure of development projects, production problems, unexpected contract breaches or terminations, government-mandated or market-driven price decreases for our products, introduction of competing products, our ability to successfully market both new and existing products, exposure to product liability and other lawsuits, changes in reimbursement rules and governmental laws and related interpretation thereof, unexpected growth in costs and expenses, the possibility that the transaction may not be consummated or that the expected benefits of the transaction may not materialize as expected, Lundbeck's and Chelsea's ability to timely complete the transaction, if at all, or to, prior to the completion of the transaction, if at all, satisfy all closing conditions, the possibility that the merger agreement may be terminated, and the impact of the current economic environment, fluctuations in operating results, market acceptance of NORTHERA, and other risks that are described in Chelsea's Annual Report on Form 10-K for the year ended December 31, 2013 and in its subsequently filed SEC reports. Neither Lundbeck nor Chelsea undertakes any obligation to update these forward-looking statements except to the extent otherwise required by law.