French Sales Subsidiary Eisai S.A.S. to Divest Rights for Loxapac And Parkinane LP to CNX Therapeutics
Eisai Co., Ltd. announced today that its French sales subsidiary Eisai S.A.S. 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 “Parkinane LP” (generic name: trihexyphenidyl hydrochloride) to CNX Therapeutics Limited. 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 authorizations and exploitant status. 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 maximized based on CNX’s ongoing commitment serving patients in to the fields of psychiatry and neurology.
Driven by our hhc concept, Eisai strives to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas: Neurology, Oncology and Global Health. As an hhc eco company, Eisai aims to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities by creating solutions through building an ecosystem in collaboration with other industries.
About CNX Therapeutics Limited
CNX Therapeutics (“CNX”) is a speciality pharmaceutical company committed to improving the lives of patients by providing access to essential medicines. CNX commercializes and distributes a portfolio of pharmaceuticals for neurological, psychiatric and hospital emergencies in over 40 countries worldwide, both directly and through strategic partnerships.
CNX is an attractive partner for companies who are looking for a pan-European partner for Central Nervous System (CNS) and niche injectable products, which is committed to the highest standards of ethics and sustainability.
CNX has a pioneering approach to Environment, Social and Governance (ESG), which forms a key part of its mission.
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