- Knight Therapeutics (GUD) has entered a definitive agreement to acquire regional rights to Exelon, a dementia treatment for Alzheimer’s disease
- Knight will acquire exclusive rights to manufacture, market and sell Exelon in Canada and Latin America
- The company will also have the exclusive license to use the intellectual property and Exelon trademark from Novartis
- Knight will pay US$168 million in cash and a milestone payment of up to US$12 million
- Knight Therapeutics focuses on acquiring or in-licensing pharmaceutical products for Canada and Latin America
- Knight Therapeutics (GUD) is up by 3.05 per cent and is currently trading at $5.40 per share
Knight Therapeutics (GUD) has entered a definitive agreement to acquire regional rights to Exelon, a dementia treatment for Alzheimer’s disease.
Under the terms of the agreement, Knight will acquire exclusive rights to manufacture, market and sell Exelon (rivastigmine patch, capsules and solution) in Canada and Latin America.
The company will also have the exclusive license to use the intellectual property and Exelon trademark from Novartis within the aforementioned territories.
Knight will pay US$168 million in cash and a milestone payment of up to US$12 million upon the achievement of certain conditions.
Exelon is a prescription product first approved in 1997 and currently registered and sold in approximately 90 countries. It is indicated for the symptomatic treatment of mild to moderately severe dementia in people with Alzheimer’s disease.
Exelon had 2020 revenues of approximately US$47 million for Canada and Latin America.
Samira Sakhia, Knight’s President and COO, commented,
“We are excited to add Exelon to our portfolio of specialty CNS products and continue to support this well-established and important therapy option in an area of such high unmet need as Alzheimer’s.”
Amal Khouri, Knight’s Chief Business Officer, added,
“The acquisition of Exelon leverages Knight’s pan-American (ex-US) platform and further validates our rest-of-world strategy. Exelon will be the first product that we will be selling across our entire territory.”
Knight will begin distributing Exelon upon transfer of marketing authorization on a country by country basis.
Knight Therapeutics is a specialty pharmaceutical company focused on acquiring or in-licensing pharmaceutical products for Canada and Latin America.
Knight Therapeutics (GUD) is up by 3.05 per cent and is currently trading at $5.40 per share as of 9:30 am ET.