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Zephyr

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Zephyr

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Monday, 03/20/2006 5:33:54 PM

Monday, March 20, 2006 5:33:54 PM

Post# of 275594
ELN news...more cash for Elan's coffers. >>> Elan Closes Sale of Rights to Prialt In Europe to Eisai

March 20, 2006 16:30:01 (ET)

DUBLIN, Ireland, Mar 20, 2006 (BUSINESS WIRE) -- Elan Corporation, plc today announced that it has completed the sale of the rights to Prialt(TM) (ziconotide, non-opioid severe chronic pain agent) in Europe to Eisai Co., Ltd. Under the terms of the sale, Elan received approximately $50 million at the closing and will receive a further $10 million on the earlier of two years from closing or the launch of Prialt in key European markets, and may receive an additional $40 million contingent on Prialt achieving revenue related milestones in Europe. Elan retains the product rights in the United States.







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