By Michael Dabaie

 

Knight Therapeutics Inc. said it would acquire the exclusive rights to manufacture, market and sell Exelon in Canada and Latin America from Novartis AG.

Montreal-based Knight said it is also acquiring an exclusive license to use the intellectual property and the Exelon trademark within the territory.

Exelon is a prescription product first approved in 1997 and is currently registered and sold in about 90 countries. Exelon is indicated for mild to moderately severe dementia in people with Alzheimer's disease.

Knight will pay $168 million in cash and an additional milestone payment of up to $12 million.

Exelon had annual revenue for 2020 of about $47 million for Canada and Latin America, Knight said.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

April 23, 2021 08:26 ET (12:26 GMT)

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