Elan sells epilepsy drug to Eisai

Troubled pharmaceutical company Elan has sold its interests in epilepsy drug Zonegran. Eisai will pay $130m to Elan if the transaction is completed by April 30 but less if the deal takes place after that.

Chief executive Kelly Martin said the transaction was in keeping with Elan’s strategy and would sharpen its focus in neurology. Elan will now concentrate on its Antegren product, which it hopes to use in the treatment of multiple sclerosis and Crohn’s disease, and Prialt, which is used to relieve severe pain. Elan will continue to manufacture Zonegran at its Athlone facility.