Eisai Agrees To Acquire Severe Chronic Pain Agent Prialt For Europe From Elan
Eisai Co., Ltd. of Tokyo (President and CEO: Haruo Naito) and Elan Corporation, plc. of Ireland, (President and CEO: Kelly Martin) announced the conclusion of an agreement for the strategic product acquisition in Europe of Elan's non-opioid severe chronic pain agent Prialt (generic name: ziconotide acetate) on February 8th, 2006 (US Eastern time).
Upon consummation of this agreement, Eisai will obtain development, manufacturing and marketing rights for Prialt for the European region from Elan. This agreement will come into force on receipt of the necessary approvals from relevant regulatory authorities and the satisfaction of other standard closing conditions.
Prialt is a peptide which is the synthetic equivalent of a peptide found in a marine snail. It suppresses pain by selectively blocking N-type calcium channels on nerves. In December 2004, the US FDA approved Prialt for the management of severe, chronic pain in patients who require intrathecal analgesia. Prialt has been awarded an orphan drug status in the European Union, and was granted a Marketing Authorization through the European Union's Centralized Procedure in February 2005. Prialt is the first medicine that was approved in Europe as a non-opioid, intrathecal, severe chronic pain agent.
Based on this strategic product acquisition, Eisai aims to expand the range of products and expand the business territory in Europe. The company believes that Prialt will meet the needs of patients with severe chronic pain in Europe and contribute to increase their benefits. Eisai will create a foothold in the company's emerging oncology and critical care franchise.
Corporate Communications Department
Eisai Co., Ltd.
[See the attached for the outline of Prialt as a reference]
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