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news.Concordia Pharmaceuticals, a subsidiary of Concordia Healthcare, has agreed to buy Eisai's Zonegran for commercialization and distribution in the US and Puerto Rico.
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In March 2000, the US Food and Drug Administration approved Zonegran as adjunctive therapy in the treatment of partial seizures in adults with epilepsy.
Under the deal, Eisai will receive full payment of $90m in cash, plus $1.5m for purchased inventory from Concordia upon closing of the acquisition, which is subject to customary closing conditions including receipt of required regulatory approvals and third party consents.
Additionally, the two firms are expected to enter into a supply agreement under which Eisai will serve as Concordia’s supplier of Zonegran for the US and Puerto Rican markets.
Concordia CEO Mark Thompson said, "The acquisition of Zonegran for commercialization in the US and Puerto Rico represents another advancement in the execution of Concordia’s legacy product strategy, which management believes will provide significant and sustainable revenue going forward."
In 2004, Eisai acquired the exclusive North American and European rights to Zonegran from Elan, which had previously licensed the drug from Sumitomo Dainippon.
Zonegran is currently available in 25mg and 100mg capsules.