Elan Corporation
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Royalty Pharma Increases Bid for Elan
May 21, 2013 8:13 am | News | CommentsRoyalty Pharma has raised its offer to buy Elan on the condition that shareholders reject the Irish drugmaker's push to refocus its business through a string of recently announced deals, including two new deals unveiled Monday. Royalty said Monday it will pay $12.50 in cash for each share of Elan Corp. PLC. That adds up to a total value of about $7.5 billion.
Elan Buys Back $1B Shares for $11.25 a Share
April 18, 2013 5:02 pm | by The Associated Press | News | CommentsIrish drugmaker Elan Corp. PLC said Thursday it had completed its "Dutch auction" stock repurchase, buying back $1 billion in stock for $11.25 per share. Elan said in March that it would buy the shares for $11.25 to $13 each. Under the modified Dutch auction, stockholders notify the company how...
Royalty Pharma Raises Bid for Elan to up to $7.2B
April 15, 2013 1:51 pm | News | CommentsRoyalty Pharma is raising its bid for Irish drugmaker Elan Corp. PLC to as much as $12 per share, or $7.2 billion. Royalty Pharma, a private company based in New York, offered in February to buy the company for $11 per share, or about $6.5 billion. Elan rejected that bid.
Biogen Idec Completes Purchase of Full Rights and Control of TYSABRI®
April 3, 2013 8:00 am | News | CommentsBiogen Idec has completed its purchase of Elan Corporation’s interest in TYSABRI ® (natalizumab) and has gained full strategic, commercial and decision-making rights to TYSABRI. The transaction was originally announced on February 6, 2013.
SAC Affiliate Pays $600M to Settle Trading Charges
March 18, 2013 7:58 am | by SARAH SKIDMORE,AP Business Reporter | News | CommentsTwo affiliates of SAC Capital Advisors, the hedge fund run by billionaire Steven Cohen, will pay more than $614 million in what federal regulators are calling the largest insider trading settlement ever. The Securities and Exchange Commission charged CR Intrinsic Investors with insider trading in 2012, alleging that portfolio manager Mathew Martoma illegally obtained confidential details about an Alzheimer's drug trial.
Elan to Start $1B Dutch Auction for Shares
March 11, 2013 8:06 am | News | CommentsIrish drugmaker Elan Corp. PLC said Friday it will start a $1 billion "Dutch auction" repurchase of its stock.Elan said the stock buyback should begin on Tuesday. The price range will be $11.25 to $13 per share. Elan recently agreed to sell its share of the rights to the multiple sclerosis drug Tysabri to Biogen Idec Inc., its marketing partner on Tysabri.
Elan Announces Further Unlocking of Value To Benefit Shareholders
March 4, 2013 8:03 am | News | CommentsThe Board of Elan Corporation, plc has approved the decision to initiate a unique cash dividend policy enabling its shareholders to benefit directly from the long term cash flow generated by Tysabri. The dividend program will be directly linked to Tysabri market performance calculated as a percentage of the Tysabri royalty paid to Elan from Biogen Idec as a result of the recently announced Tysabri restructuring.
Royalty Pharma Announces Proposal To Acquire Elan
February 25, 2013 8:01 am | News | CommentsRP Management, LLC ("Royalty Pharma") today announces that contact was made on Monday February 18, 2013 with the Chairman of the Board of Elan Corporation, plc, followed by a meeting then taking place on Wednesday February 20, 2013, at which an indicative proposal was made to acquire the entire issued and to be issued share capital of Elan.
Elan Provides Update Post Restructuring Announcement of Tysabri Collaboration
February 22, 2013 7:52 am | News | CommentsElan Corporation, plc has provided an update to the market post the February 6, 2013 announcement regarding the restructuring of the Tysabri® collaboration with Biogen Idec. As previously announced, under the terms of this agreement, Elan will move from the current 50:50 business collaboration to an upfront payment of $3.25 billion and a double digit tiered royalty structure for the life of the complete Tysabri asset.
Biogen Idec and Elan Submit Applications for First-Line Use of TYSABRI in anti-JCV Antibody Negative Patients with MS
January 17, 2013 3:25 am | News | CommentsBiogen Idec and Elan Corporation have submitted applications to the FDA and European Medicines Agency (EMA) requesting updates to the TYSABRI ® (natalizumab) labels.
Ex-Hedge Fund Manager Pleads Not Guilty in Pharmaceutical Insider Trading
January 4, 2013 3:04 am | by LARRY NEUMEISTER,Associated Press | News | CommentsNEW YORK (AP) — A former hedge fund portfolio manager charged with carrying out a record-setting insider trading scheme pleaded not guilty to insider trading charges Thursday as the prosecution hinted that he would not be the last person arrested in the case.
Elan Names New Chief Operating Officer
September 21, 2012 3:56 am | News | CommentsElan Corporation, plc has announced the appointment of Hans Peter Hasler as Chief Operating Officer (“COO”) of the company with effect from October 1, 2012.
Elan Announces Plan to Spin-Off Discovery Science and Neotope Biosciences
August 13, 2012 4:40 am | News | CommentsElan Corporation, announced today that its Board of Directors has approved the spin-off of the discovery science and Neotope Biosciences from the company.
Elan Shares Fall on Alzheimer's Drug Failure
August 8, 2012 4:08 am | News | CommentsWASHINGTON (AP) — Shares of Irish drugmaker Elan Corp. fell Tuesday, a day after researchers announced they would halt study of the company's highly anticipated treatment for Alzheimer's disease.
Alkermes Takes Bigger Fourth Quarter Loss After Elan Deal
May 17, 2012 9:18 am | News | CommentsNEW YORK (AP) — Alkermes PLC said today it took a larger loss in its fiscal fourth quarter after it acquired a drug technology business and took a one-time charge related to research and development.
Alkermes Fiscal Third Quarter Loss Widens
February 3, 2012 3:02 am | by The Associated Press | News | CommentsAlkermes PLC's fiscal third-quarter loss widened as operating expenses ballooned compared to the previous year's quarter, before the company had completed its acquisition of Elan Corp.'s drug technology business.
Paladin and Elan Sign Agreement for New Pain Product
May 13, 2011 5:00 am | News | CommentsPaladin Labs Inc., a Canadian specialty pharmaceutical company, today announced that they have entered into a licensing and distribution agreement under which Paladin has been granted exclusive Canadian rights from an affiliate of Elan Corporation, plc to market and sell, upon regulatory approval, Elan's controlled release hydrocodone product for the treatment of moderate to severe pain.
Alkermes to Merge With Elan Drug Technologies to Create Alkermes plc
May 9, 2011 4:34 am | News | CommentsAlkermes, Inc. and Elan Corporation, plc today announced the execution of a definitive agreement under which Alkermes will merge with Elan Drug Technologies (EDT), the profitable, world-class drug formulation and manufacturing business unit of Elan, in a cash and stock transaction currently valued at approximately $960 million.
Elan Turns First Quarter Profit as Tysabri Sales Rise
April 20, 2011 4:59 am | News | CommentsElan Corp. said Wednesday it turned a first-quarter profit, helped by a legal settlement, sales growth for the multiple sclerosis treatment Tysabri and lower expenses.
Elan Convicted over Marketing of Epilepsy Drug
March 1, 2011 3:49 am | News | CommentsBOSTON (AP) — A U.S. subsidiary of Irish drugmaker Elan Corp. PLC has pleaded guilty to misdemeanor violation of the federal Food Drug and Cosmetic Act over the improper marketing of the epilepsy drug Zonegran.
Elan and Celgene Enter into Settlement and License Agreement Related to ABRAXANE
February 25, 2011 4:00 am | News | CommentsElan Corporation plc and Celgene Corporation, today announced that Elan subsidiary Elan Pharma International Limited has entered into a settlement and license agreement with Celgene Corporation resolving the patent infringement litigation involving ABRAXANE(R). Elan initiated legal action in 2006 against Abraxis BioScience, Inc.
Elan and PPD Form Global Business Relationship
February 23, 2011 3:45 am | News | CommentsElan and PPD, Inc. today announced they have formed a global business collaboration focused on the advancement, progression and execution of Elan's development portfolio.
Biogen Idec and Elan Submit Applications to Update TYSABRI Labeling
December 22, 2010 4:09 am | News | CommentsBiogen Idec and Elan Corporation, plc have submitted a supplemental Biologics License Application (sBLA) to the FDA and a Type II Variation to the European Medicines Agency (EMA) to request review and approval to update the respective TYSABRI Prescribing Information and Summary of Product Characteristics.
Elan to Pay $203M Off-Label Marketing Fine
December 16, 2010 4:03 am | News | CommentsIrish pharmaceutical manufacturer Elan Corporation PLC and its U.S. subsidiary have agreed to pay more than $203 million for alleged illegal promotion of the epilepsy drug Zonegran
Elan Names Former GSK Exec Chairman-Designate
December 6, 2010 3:56 am | News | CommentsElan Corporation, plc today announced that the company's Board of Directors has appointed Robert A. Ingram, former Chief Executive Officer of Glaxo Wellcome plc and former Vice Chairman Pharmaceuticals of GlaxoSmithKline, to the Board effective immediately.
