Knight Therapeutics: Up on deal to buy regional rights to Alzheimer's drug

Knight Therapeutics

23/04/2021 15:29

** Shares in Canadian pharmaceutical co  GUD.TO  rise 7.3%
to C$5.62
    ** GUD to buy exclusive rights to manufacture, market and
sell Alzheimer's drug Exelon in Canada and Latin America from
Novartis  NOVN.S  
    ** Knight will pay $168 mln in cash and an additional
milestone payment of up to $12 mln upon the achievement of
certain conditions
    ** Deal also includes an exclusive license to use the
intellectual property and the Exelon trademark within given
locations
    ** Exelon is a prescription product currently registered and
sold in about 90 countries and is indicated for the symptomatic
treatment of mild-to-moderately severe dementia in people with
Alzheimer's disease
    ** Shares of the company are up ~5% YTD

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))