Eisai Inc., the U.S. pharmaceutical subsidiary of Eisai Co., Ltd., said Wednesday that it is selling the U.S. and Puerto Rican commercialization and distribution rights to its antiseizure drug Zonegran.
The Woodcliff Lake-based unit said in a news release that Concordia Pharmaceuticals Inc., a subsidiary of Concordia Healthcare Corp., is buying the rights.
Eisai said it will receive full payment upon closing of the deal, but financial terms were not disclosed.
"The decision to sell U.S. rights to Zonegran to Concordia is part of our strategy to sharpen Eisai's commercial focus and strengthen our operational effectiveness as we prepare for our upcoming product launches," Yuji Matsue, chairman and CEO of Eisai Inc., said in the release. "We are pleased that Concordia will be taking the lead on commercializing Zonegran in the United States and Puerto Rico moving forward, as this asset complements Concordia's portfolio and may receive additional commercial investment there."
Eisai and Concordia will enter into a supply agreement, as well, Eisai said.
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