Knight Therapeutics Acquires Exelon Rights in Canada and Latin America
Knight Therapeutics has finalized the acquisition of exclusive rights for Exelon® (rivastigmine patch, capsules, and solution) in Canada and Latin America. The deal includes manufacturing, marketing, and sales.
Montreal, Canada – Knight Therapeutics Inc. announced the closing of its acquisition of exclusive rights to manufacture, market, and sell Exelon® (rivastigmine patch, capsules, and solution) in Canada and Latin America. The company secured these rights, along with an exclusive license to use the Exelon trademark and intellectual property, from Novartis.
The transaction involved an upfront cash payment of USD $168 million, with potential additional milestone payments totaling up to USD $12 million upon the achievement of certain conditions. This acquisition expands Knight Therapeutics' portfolio of specialty pharmaceutical products in key American markets.
A transition service agreement is in place with Novartis to cover the period until marketing authorizations are transferred on a country-by-country basis. During this transition, Knight Therapeutics will receive a net profit transfer. Product distribution is set to commence as marketing authorizations are transferred.
Knight Therapeutics is a specialty pharmaceutical company focused on acquiring or in-licensing and commercializing innovative pharmaceutical products for Canada and Latin America. The company's shares trade on the Toronto Stock Exchange under the symbol GUD.