Elan Corporation said it has purchased royalty rights for Zonegran, Frova and Zanaflex from Pharma Marketing for $99.6 million.
As a result, no further royalty payments will be made to Pharma Marketing and all of Elan's agreements with Pharma Marketing were terminated.
As previously announced, the deal will result in a charge of $99.6 million in the fourth quarter of 2003.
AFP