Elan completes sales of Myobloc to Solstice Neurosciences

Irish drugmaker Elan Corp has completed the sale of its worldwiderights to Myobloc/Neurobloc (botulinum toxin type B) injectable solution, for the treatment of cervical dystonia to reduce the severity of abnormal head position and neck pain, to Solstice Neurosciences, a newly-created speciality biopharmaceutical firm. All related intellectual property, the product inventory and the manufacturing facility are included in the transaction. In addition, the associated manufacturing staff will be offered the chance to continue their work with Myobloc, as employees of Solstice, the company said. Financial terms of the deal were not revealed. Myobloc is currently approved in the USA, Canada and Europe (Marketletters passim).