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Perrigo Posts Second-Quarter Loss on Elan-Related Costs

February 6, 2014 3:54 pm | News | Comments

Perrigo said Thursday that it took a loss in the fiscal second quarter on costs tied to its acquisition of Irish drugmaker Elan. The company raised its profit outlook for the year, and said revenue from its prescription drug and nutritional products business improved, helped by new products and Perrigo's $8.6 billion purchase of Elan in December.

Elan Shareholders Approve Sale to Perrigo

November 18, 2013 9:17 am | by The Associated Press | News | Comments

Elan says its shareholders have approved the sale of the company to Perrigo Co. for $8.6 billion...

Perrigo to Buy Elan for $8.6B, Seeks Tax Savings

July 29, 2013 5:13 am | by SHAWN POGATCHNIK - Associated Press - Associated Press | News | Comments

Perrigo agreed Monday to buy Ireland's Elan for $8.6 billion in a deal that should allow the...

Royalty Pharma Lets Elan Takeover Bid Expire

June 18, 2013 9:37 am | by TOM MURPHY,AP Business Writer | News | Comments

Royalty Pharma has let its latest takeover bid for Irish drugmaker Elan lapse...

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Royalty Pharma Announces Withdrawal of Judicial Review and Lapse of Offer

June 18, 2013 8:11 am | News | Comments

Royalty Pharma announced today that it had withdrawn its request for a judicial review of the Irish Takeover Panel's decision requiring it to lapse its offer for Elan Corporation, plc if, among other things, Elan shareholders approved the Share Repurchase Program.

Elan Holders OK Buyback, Vote Down Three Deals

June 17, 2013 8:43 am | News | Comments

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.

Elan Rejects Royalty Bid, To Evaluate Other Offers

June 10, 2013 8:10 am | by The Associated Press | News | Comments

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 Increases Offer to Acquire Elan

June 7, 2013 8:37 am | News | Comments

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.

Judge Halts Royalty Pharma's Bid for Elan Stock

June 5, 2013 7:59 am | by The Associated Press | News | Comments

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: Royalty Pharma Acquisition Bid Falls Short

June 3, 2013 8:07 am | by The Associated Press | News | Comments

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 Eases Condition for Elan Offer

May 23, 2013 8:20 am | News | Comments

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 Increases Bid for Elan

May 21, 2013 8:13 am | News | Comments

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.


Elan Enters $1B Royalty Deal with Theravance

May 13, 2013 8:12 am | by The Associated Press | News | Comments

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.

Elan Buys Back $1B Shares for $11.25 a Share

April 18, 2013 5:02 pm | by The Associated Press | News | Comments

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 Raises Bid for Elan to up to $7.2B

April 15, 2013 1:51 pm | News | Comments

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 Completes Purchase of Full Rights and Control of TYSABRI®

April 3, 2013 8:00 am | News | Comments

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.

SAC Affiliate Pays $600M to Settle Trading Charges

March 18, 2013 7:58 am | by SARAH SKIDMORE,AP Business Reporter | News | Comments

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.


Elan to Start $1B Dutch Auction for Shares

March 11, 2013 8:06 am | News | Comments

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.

Elan Announces Further Unlocking of Value To Benefit Shareholders

March 4, 2013 8:03 am | News | Comments

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.

Royalty Pharma Announces Proposal To Acquire Elan

February 25, 2013 8:01 am | News | Comments

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 Provides Update Post Restructuring Announcement of Tysabri Collaboration

February 22, 2013 7:52 am | News | Comments

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 MS

January 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.

Ex-Hedge Fund Manager Pleads Not Guilty in Pharmaceutical Insider Trading

January 4, 2013 3:04 am | by LARRY NEUMEISTER,Associated Press | News | Comments

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 Names New Chief Operating Officer

September 21, 2012 3:56 am | News | Comments

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 Announces Plan to Spin-Off Discovery Science and Neotope Biosciences

August 13, 2012 4:40 am | News | Comments

Elan 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 | Comments

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.  

Alkermes Takes Bigger Fourth Quarter Loss After Elan Deal

May 17, 2012 9:18 am | News | Comments

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 Fiscal Third Quarter Loss Widens

February 3, 2012 3:02 am | by The Associated Press | News | Comments

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 and Elan Sign Agreement for New Pain Product

May 13, 2011 5:00 am | News | Comments

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.

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