European Prialt rights transferred to Riemser

Shares of Japanese pharma major Eisai (TYO: 4523) edged up 1.09% to 7,151 yen this morning, after is announced an agreement to transfer the exclusive development and marketing rights for the non-opioid severe chronic pain treatment Prialt (ziconotide acetate) in Europe to Germany’s Riemser Pharma.

Under the agreement, Eisai will transfer the exclusive development and marketing rights for Prialt to Riemser, and Eisai will receive a one-time contractual payment from Riemser as consideration. Further financial terms were not disclosed.

Under an agreement signed with former Elan Corp in February 2006, Eisai obtained the exclusive rights to develop, manufacture and market the agent in Europe, and has been marketing Prialt in Europe as a non-opioid intrathecal infusion for the treatment of severe chronic pain. In 2013, Elan became a part of Perrigo.

Riemser is a pan-European specialty pharma company that has strengths in the marketing and distribution of pharmaceuticals in niche areas of oncology, neurology, infectious diseases and other fields. Transferring the rights to Prialt to Riemser, who has expertise in European markets, will enable a greater contribution to patients with severe chronic pain in Europe.

Konstantin von Alvensleben, chief executive of Riemser, said: “The acquisition of Prialt is strengthening one of our core indication areas neurology. As the drug’s scope of application is highly specialized and, similarly to our supportive oncology pharmaceuticals, aims at improving patients’ quality of life, Prialt is perfect match with Riemser’s profile.”