July 7, 2004
Irish drugs firm Elan has announced that it has completed the sale of its worldwide rights to its injectible botox treatment to Solstice Neurosciences Inc.
Financial terms of the deal were not disclosed.
The intellectual property, product inventory, and manufacturing facility for the Myobloc/Neurobloc injectable treatment are all included in the sale, as well as associated employees, who will be offered jobs with Solstice.
Myobloc was developed by Elan and is currently approved in the US, Canada and Europe for the treatment of cervical dystonia, to reduce the severity of abnormal head position and neck pain.
Conditions that are treated with Botox botulinum injections include muscle contraction headaches, chronic muscle spasms in the neck and back, myofascial pain syndrome, and spasticity from multiple sclerosis or stroke.
But it is best known for its 'off-label' use use in cosmetic surgery,
treating dynamic expression lines of the face and neck, and around the
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