Benzinga | Apr 23, 2021 07:32AM EDT

Knight Therapeutics to Acquire Regional Rights to Exelon In Canada And Latin America And Exclusive License To Use IP And Exelon From Novartis Within Territory; Co. To Pay $168M At Closing And Additoinal Milestone Of Up To $12M

Knight Therapeutics Inc. (TSX:GUD) ("Knight") a pan-America (ex-USA) specialty pharmaceutical company, today announced that it has entered into a definitive agreement under which Knight will acquire the exclusive rights to manufacture, market and sell Exelon(r) (rivastigmine Patch, Capsules and Solution) in Canada and Latin America (the "Territory"), as well as an exclusive license to use the intellectual property and the Exelon trademark, from Novartis within the Territory.



Exelon (rivastigmine) is a prescription product that was first approved in 1997 and is currently registered and sold in approximately 90 countries. Exelon is indicated for the symptomatic treatment of mild to moderately severe dementia in people with Alzheimer's disease.

At closing, Knight will pay USD $168 million in cash and an additional milestone payment of up to USD $12 million upon the achievement of certain conditions. Exelon had annual revenues for 2020 of approximately 47 Million US dollars for Canada and Latin America.