Eisai Inc., the U.S. pharmaceutical subsidiary of Eisai Co., Ltd., announced it has entered into an agreement with Concordia Pharmaceuticals Inc., a subsidiary of Concordia Healthcare Corp., to purchase Eisai’s U.S. and Puerto Rican commercialization and distribution rights to Zonegran.
As part of the deal terms, Eisai will receive full payment from Concordia upon closing. In addition, Eisai and Concordia are expected to enter into a supply agreement under which Eisai will serve as Concordia’s supplier of Zonegran for the U.S. and Puerto Rican markets.
“The decision to sell U.S. rights to Zonegran to Concordia is part of our strategy to sharpen Eisai’s commercial focus and strengthen our operational effectiveness as we prepare for our upcoming product launches,” said Yuji Matsue, chairman and CEO of Eisai Inc. “We are pleased that Concordia will be taking the lead on commercializing Zonegran in the United States and Puerto Rico moving forward, as this asset complements Concordia’s portfolio and may receive additional commercial investment there.”
Eisai acquired the exclusive North American and European rights to Zonegran from Elan Corporation in 2004. Elan had previously licensed Zonegran from Sumitomo Dainippon Pharma Co. Ltd. The closing of the transaction is subject to certain regulatory approvals and Sumitomo Dainippon’s consent.
Date: September 3, 2014