Covington Represents Eisai in Sale of Royalty Interest in Breast Cancer Treatment

NEW YORK—Covington advised Eisai Co., Ltd. in its agreement to transfer all future economic rights for elacestrant (generic name), approved for the treatment for breast cancer in the United States, to DRI Healthcare Trust. Eisai will receive an upfront payment of $85 million for the transfer.

Eisai strives to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in its strategic areas: Neurology, Oncology, and Global Health. Eisai aims to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities by creating solutions through building an ecosystem in collaboration with other industries.

DRI Healthcare Trust is managed by DRI Capital Inc., a pioneer in global pharmaceutical royalty monetization with a more than 30-year history of accelerating innovation by providing capital to inventors, academic institutions, and biopharma companies.

The Covington team included Peter Schwartz, Jennifer Uren, and Brad Schupack (finance), Ansgar Simon (tax), and Natalie Derzko and Steven Mossey (Intellectual Property).