Eisai divests US Zonegran rights to Concordia

Japanese drugmaker Eisai (TYO: 4523) says its US subsidiary has entered into an agreement to divest its US and Puerto Rican rights for the antiepileptic agent Zonegran (zonisamide) to Concordia Pharmaceuticals, a privately-held biotech firm.

Zonegran is an antiepileptic drug (AED) originally created by Dainippon Pharmaceutical (now Sumitomo Dainippon Pharma ) and for which Eisai and its US subsidiary hold exclusive rights in Europe, North America and Asia.

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 US and Puerto Rican market. The closing of the transaction is subject to certain regulatory approvals and Sumitomo Dainippon consent. No financial terms of the transaction have been disclosed.

Will retain rights outside USA and Puerto Rico

Eisai will retain its rights to Zonegran outside of the USA 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 USA 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.