MAPLE GROVE, Minn., Sept. 30, 2013 /PRNewswire/ -- 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.
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"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.
Upsher-Smith, founded in 1919, is an independent and privately-owned specialty pharmaceutical company headquartered in Maple Grove, Minnesota that focuses on product growth and innovation for branded and generic pharmaceuticals. Upsher-Smith has a particular focus on developing therapies to assist people suffering from central nervous system diseases, and also markets products relating to cardiology, dermatology, and women's health. For more information, visit www.upsher-smith.com.
SOURCE Upsher-Smith Laboratories, Inc.