Elan drug European rights deal goes through

ISEQ-listed pharmaceutical Elan has completed the sale of the European rights to its chronic-pain drug Prialt to Eisai.

Under the terms of the sale, Elan received about $50m (€41.2m) at the closing and will receive a further $10m (€8.2m) either two years from closing or at the launch of Prialt in key European markets.