Elan agrees to sell drug rights to Solstice

ELAN’S €2 billion plus asset sell-off may have come to an end yesterday with the disposal of potential Botox competitor Myobloc for up to €15 million.

Elan yesterday announced that it has completed the sale of its worldwide rights to its botulinum toxin product Myobloc/Neurobloc to Solstice Neurosciences.

No sale price was disclosed but it is speculated that it was close to Myobloc’s annual sales of between €12 million to €15 million.