Pharmaceutical company Elan has completed the sale of its worldwide rights to Myobloc, a treatment for cervical dystonia.
The rights, including the related intellectual property and manufacturing facility, are being sold to a newly formed company Solstice Neurosciences.
The financial details are not being disclosed, but Davy analyst Jack Gorman said the price was unlikely to be significant in an overall group context, as 2003 revenues for the product were just $14.9m.
Elan says workers involved in manufacturing the product will be offered the chance to continue as employees of Solstice.
