Elan completes $101.8m sale

Elan Pharmaceutical has completed the sale of its four pain products and related assets to aaiPharma Inc for $101.8m.(€83.6m).

This includes the rights to its Roxicodone, Roxanol and Duraclon products.

The payment takes the form of a cash payment of $50.4m (€41m) and $51.4m (€42m) of Elan’s product related payments.

Elan trades on the New York, London and Dublin stock exchanges.