Elan's Zonegran deal goes through

Elan has completed the sale of its North American and European interests in Zonegran to Eisai Inc. for €109m.

The pharmaceutical firm may also earn purchase payments of up to €92.24m when generic zonisamide is introduced in the US, which includes up to €21m on receiving marketing approval for Zonegran in Europe.

Deferred payments may also be received on net sales of Zonegran in North America and Europe if certain conditions are met.

Elan will continue to manufacture Zonegran at its plant in Athlone, Co Westmeath.

The completion of the deal today follows an announcement made on March 30 this year.

Its shareprice was down 51c to €19.95 in early morning Iseq trade.