Elan drug European rights deal goes through
21/03/2006 - 07:15:09ISEQ-listed pharmaceutical Elan has completed the sale of the European rights to its chronic-pain drug Prialt to Eisai.
Under the terms of the sale, Elan received about $50m (€41.2m) at the closing and will receive a further $10m (€8.2m) either two years from closing or at the launch of Prialt in key European markets.
Elan may receive an additional $40m (€33m) if Prialt reaches revenue targets in Europe.
Elan retains the product rights in the United States.
