Biogen Idec Inc. agreed to acquire partner Elan Corp.’s stake in the multiple sclerosis drug Tysabri for $3.25 billion in cash plus future royalties.
The deal gives Biogen all rights to the product, and the company will pay royalties to Elan, Dublin-based Elan said in a statement today. The companies had been splitting profit equally on the medicine, which generated $1.6 billion in sales in 2012.
The deal ends speculation that Biogen would buy Elan and transforms the Irish company into an investment vehicle in search of assets to buy in health care. Elan’s experimental drug for Alzheimer’s disease failed in late-stage trials last year, leaving Tysabri as the company’s single major product..... Read More - http://www.ms-uk.org/index.cfm/tysabri