Elan says its shareholders have approved the sale of the company to Perrigo Co. for $8.6 billion. The company said 99.5 percent of the shares voted at a special meeting were voted in favor of the sale. That made up 66 percent of its total shares. Perrigo reached a deal to buy Elan Corp. PLC in a cash and stock deal in July.
Perrigo agreed Monday to buy Ireland's Elan for $8.6 billion in a deal that should allow the...
Royalty Pharma has let its latest takeover bid for Irish drugmaker Elan lapse...
Royalty Pharma announced today that it had withdrawn its request for a judicial review of the...
Shareholders of Irish drugmaker Elan Corp. PLC have potentially ended a takeover bid from Royalty Pharma by voting in favor of an Elan share buyback plan. The Dublin-based company's shareholders also rejected at a Monday meeting three separate deals that the Elan board has pushed instead of the Royalty takeover bid.
The board of directors of the Irish drugmaker Elan Corp. PLC on Monday rejected an increased offer from Royalty Pharma and says it has received unsolicited interest from other parties it didn't name. Royalty's latest offer last week was for $13 per share plus up to $2.50 per share in payments based on performance milestones. That offer totaled about $7.76 billion not counting the milestone payments.
Royalty Pharma today announced, pursuant to Rule 2.5 of the Irish Takeover Rules, a firm intention to further increase its offer for Elan to $13.00 per share in cash plus a contingent value right worth up to $2.50 per share. The CVR, based on feedback from Elan Shareholders, enables participation in the future upside of Tysabri including approval in secondary progressive multiple sclerosis and the achievement of certain sales milestones.
Elan Corp.'s fight against a takeover bid by Royalty Pharma has spilled into U.S. federal court, where a judge has issued a temporary restraining order preventing Royalty from completing its offer to buy the Irish drugmaker. Royalty is a privately held New York company that buys royalty interests in drugs and late-stage drug candidates. It made an offer to buy Elan last month for $12.50 per share, or about $7.5 billion.
Elan Corp. said today the latest acquisition offer it fielded from Royalty Pharma substantially undervalues Elan and the future revenue it will receive from the multiple sclerosis treatment Tysabri. The drugmaker also said in a formal response to Royalty's offer to buy it for $12.50 per share, or about $7.5B, that some transactions it announced recently will widen the gap between Royalty Pharma's "undervalued" offer and Elan's fair value.
Royalty Pharma has eased one of its conditions for completing its recently increased offer to buy Irish drugmaker Elan Corp. PLC for $12.50 per share, or about $7.5 billion. The New York company said Thursday it had lowered a threshold for the percentage of shareholders who must vote for the deal to more than 50 percent from 90 percent.
Royalty 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.
Irish drugmaker Elan plans to pay $1 billion for the right to future royalties from four respiratory treatments being developed by Theravance and GlaxoSmithKline. The deal will give Elan 21 percent of the future royalties that Theravance Inc. receives from Glaxo. Theravance shares jumped 7 percent in premarket trading. Elan shares slipped.
Irish 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 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 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.
Two 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.
Irish 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.
The 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.
RP 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 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 MSJanuary 17, 2013 3:25 am | News | Comments
Biogen Idec and Elan Corporation have submitted applications to the FDA and European Medicines Agency (EMA) requesting updates to the TYSABRI ® (natalizumab) labels.
NEW 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 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 Corporation, announced today that its Board of Directors has approved the spin-off of the discovery science and Neotope Biosciences from the company.
WASHINGTON (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.
NEW 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 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 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, 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.
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