Elan has completed the sale of the European rights to its chronic pain treatment drug Prialt in Europe to Eisai.
Under the terms of the sale, Elan received approximately $50 million and a further $10 million on the earlier of two years from closing or the launch of Prialt in key European markets.
It may receive an additional $40 million contingent on Prialt achieving revenue targets in Europe.
Elan retains the product rights in the United States.