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Azur Pharma Ltd. said Thursday that it has agreed to buy the chronic-pain drug Prialt from fellow Irish drugmaker Elan Pharmaceuticals.

Terms of the deal were not disclosed.

Azur said it acquired worldwide rights other than in Europe. The drug generated about $20 million in U.S. sales last year. Patents covering Prialt expire in December 2016, and Azur said in a statement it believes the drug will grow "with continued investment."

Elan Pharmaceuticals Inc. is a subsidiary of Elan Corp. Plc. Shares of Elan rose 8 cents to $7.33 in Thursday afternoon trading.

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