The Food and Drug Administration recently approved Deerfield, Ill.-based Lundbeck's new epilepsy drug Carnexiv.
The intravenous drug can be used as a short-term replacement therapy for patients with certain types of seizure disorders when oral administration of the drug is not possible.
San Diego, Calif.-based Ligand Pharmaceuticals, a partner of Lundbeck, will earn a $1.25 million milestone payment for the approval and is entitled to 2.75 percent of Carnexiv's net sales.
Lundbeck plans to launch Carnexiv in early 2017.
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