Elan sells Prialt rights to Japanese firm

ELAN has sold the European sales rights to its painkilling drug Prialt in a deal that could net the company €84 million.

Elan said it will retain the rights to sell Prialt, used to treat chronic pain, in the United States, following yesterday's deal with the Japanese drug firm Eisai Co.

Athlone-based Elan will net almost €41m in cash and €8.4m within two years or when Eisai launches Prialt in Europe, whichever is sooner.