DUBLIN, Ireland--(BUSINESS WIRE)--March 20, 2006--Elan Corporation, plc today announced that it has completed the sale of the rights to Prialt(TM) (ziconotide, non-opioid severe chronic pain agent) in Europe to Eisai Co., Ltd. Under the terms of the sale, Elan received approximately $50 million at the closing and will receive a further $10 million on the earlier of two years from closing or the launch of Prialt in key European markets, and may receive an additional $40 million contingent on Prialt achieving revenue related milestones in Europe. Elan retains the product rights in the United States.
