- For Print
- September 3, 2014
Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, “Eisai”) announced today that its U.S. subsidiary Eisai Inc. has entered into an agreement to divest its U.S. and Puerto Rican rights for the antiepileptic agent Zonegran® (zonisamide) to Concordia Pharmaceuticals Inc. (Concordia), a subsidiary of Concordia Healthcare Corp. (Headquarters: Ontario, CEO: Mark Thompson).
Zonegran is an antiepileptic drug (AED) originally created by Dainippon Pharmaceutical Co., Ltd. (currently Sumitomo Dainippon Pharma Co., Ltd.), for which Eisai and its U.S. subsidiary hold exclusive rights in Europe, North America and Asia. Under this agreement, Eisai Inc. will sell its commercialization rights associated with Zonegran in the U.S. and Puerto Rico to Concordia. In addition, the companies have agreed to enter into a supply agreement under which Eisai Inc. will serve as Concordia's supplier of Zonegran for the U.S. and Puerto Rican market. The closing of the transaction is subject to certain regulatory approvals and Sumitomo Dainippon Pharma Co., Ltd.'s consent.
Eisai will retain its rights to Zonegran outside of the U.S. and Puerto Rico, and continue to distribute the product in licensed territories such as Europe.
Eisai believes that this divestiture agreement with Concordia will lead to maximization of the agent's product and patient value in the U.S. and Puerto Rico. In addition, the agreement will enable Eisai to strategically reallocate resources to other mid-to-long-term business growth areas so as to continue to make further contributions to address the diversified needs of, and increase the benefits provided to, patients and their families.
Public Relations Department,
Eisai Co., Ltd.
< Notes to editors >
About Concordia Healthcare Corp.
Concordia Healthcare Corp. is a diverse healthcare company focused on legacy pharmaceutical products, orphan drugs, and medical devices for the diabetic population. Concordia Healthcare Corp.'s pharmaceutical business consists of ADHD-treatment Kapvay® (clonidine extended release tablets), Head Lice Treatment Ulesfia® (benzyl alcohol) Lotion, Asthma-related medication Orapred ODT® (prednisolone sodium phosphate orally disintegrating tablets) and Irritable Bowel Syndrome treatment Donnatal® (belladonna alkaloids, phenobarbital). Concordia Healthcare Corp.'s Specialty Healthcare Distribution (SHD) division, Complete Medical Homecare, distributes medical supplies targeting diabetes and related conditions. Concordia Healthcare Corp.'s orphan drug division, Pinnacle, markets PHOTOFRIN® in the United States.
Concordia Healthcare Corp. operates out of facilities in Oakville, Ontario; Lenexa, Kansas (near Kansas City, Missouri); Chicago, Illinois; Bridgetown, Barbados; and Charlottesville, Virginia.
Notice regarding forward-looking statements:
This release includes forward-looking statements regarding Concordia Healthcare Corp. and its business, which may include, but is not limited to, statements with respect to the acquisition, the impact of the acquisition on Concordia Healthcare Corp.'s financial performance, the entering into of the supply agreement, the maximization of product and patient value in the U.S. and Puerto Rico, Concordia Healthcare Corp.'s growth and other factors. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative and grammatical variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of Concordia Healthcare Corp.'s management, and are based on assumptions and subject to risks and uncertainties. Although Concordia Healthcare Corp.'s management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting Concordia Healthcare Corp., including risks regarding the pharmaceutical industry, the failure to obtain regulatory approvals, economic factors, market conditions, the equity markets generally, risks associated with growth and competition, risks associated with the acquisition, risks associated with the failure to enter into the supply agreement and many other factors beyond the control of Concordia Healthcare Corp. Although Concordia Healthcare Corp. has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Concordia Healthcare Corp. undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.