Elan Corp plc UK Regulatory announcement: Elan announces agreement with Vernalis regarding North American rights for Frova.

(From Chemical Business NewsBase - Press Release)

Elan Corp plc announced an agreement with Vernalis plc for the termination of the development and licence agreements between Elan and Vernalis regarding Frova (frovatriptan). Vernalis agreed to purchase Elan's commercialisation rights in North America for Frova. This transaction allows Elan to further align against its strategic architecture in research, development and marketing. Elan will focus its resources on preparing for the expected launch of the late-stage pipeline candidates, Antegren for multiple sclerosis and Crohn's disease, and Prialt for pain. Under the terms of the agreement, Vernalis will pay Elan a …