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Azur Pharma Announces the Signing of a Definitive Agreement to Acquire PRIALT(R) From Elan
Date:3/11/2010

DUBLIN, March 11, 2010 /PRNewswire/ -- Azur Pharma Limited ("Azur") today announced it has signed a definitive agreement with Elan Pharmaceuticals, Inc. (a subsidiary of Elan Corporation, plc) ( ELN) ("Elan") to acquire the analgesic therapy, PRIALT(R) (ziconotide intrathecal infusion).

PRIALT is indicated in the United States for the management of severe chronic pain in patients for whom intrathecal ("IT") therapy is warranted, and who are intolerant of or refractory to other treatment, such as systemic analgesics, adjunctive therapies, or IT morphine. PRIALT was approved by the U.S. Food and Drug Administration ("FDA") in December 2004 and launched in January 2005.

Azur has agreed to acquire worldwide rights (other than Europe) to PRIALT. Azur will offer employment to a 34 person specialty pharmaceutical infrastructure, which is currently supporting the product at Elan. End-user sales of PRIALT in the U.S. were approximately $20 million and $18 million in 2009 and 2008, respectively.

Mr. Seamus Mulligan, Ch
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