Elan sells Sonata, Skelaxin for $850 million. (News).(to King Pharmaceuticals Inc. (US))(Brief Article)

Chemical Market Reporter, February, 2003

ELAN CORP. PLC agreed last week to sell its primary care franchise to King Pharmaceuticals Inc. for $850 million. The deal includes the US and Puerto Rican rights to Sonata (zaleplon) and Skelaxin (metaxalone).

King will acquire certain assets relating to Sonata, a nonbenzodiazepine hypnotic for the short-term treatment of insomnia, directly from Wyeth, which launched the drug in 1999. In late 2001, Elan assumed responsibility for the marketing Sonata in the US, and in the first nine months of 2002 recorded net revenue of $72.0 million and gross profit of $61.8 million.

Elan acquired Skelaxin, an adjunctive treatment for discomfort associated with acute musculoskeletal conditions, through its acquisition of GWC Health Inc. in 1998. For the first...

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