Japan headquartered pharma company Eisai Co. has announced that its French sales subsidiary Eisai S.A.S. has entered into an agreement to transfer the rights in France, the French Overseas Territories and Algeria (the Territory for the antipsychotic, Loxapac (generic name: loxapine) and the Parkinson's disease treatment ParkinaneLP (generic name: trihexyphenidyl hydrochloride) to CNX Therapeutics, based in UK.

Following the signature of this agreement, a transition period had opened during which the required implementation steps will be carried out in order for CNX to become able to operate directly the business, including the regulatory steps for the transfer of the relevant marketing authorisations andexploitantstatus.

Under the terms of the agreement, Eisai S.A.S. will receive 56.5 million euro as a lump-sum contract payment upon completing the transaction. Eisai anticipates no changes to its consolidated financial forecast for the period ending March 31, 2024.

Eisai S.A.S. acquired the rights to both treatments in the Territory in July 2002 and has been marketing them since. With the conclusion of this agreement, Eisai believes that the value of both treatments in the Territory will be maximised based on CNXs ongoing commitment serving patients in to the fields of psychiatry and neurology.

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French sales subsidiary of Japanese pharma firm Eisai divests rights of neurology drugs for 56.5 M - BSA bureau