Market Overview

Elan Agrees to Restructure Tysabri Collaboration with Biogen Idec

Related ELN
Perrigo, Elan Receive Irish High Court Approval for Perrigo's Proposed Acquisition of Elan
Perrigo Shareholders Approve Acquisition Of Elan

Elan Corporation, plc (NYSE: ELN) today announced that it has agreed to
restructure the Tysabri® collaboration with Biogen Idec (NASDAQ: BIIB). Under the terms
of the 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 complete asset.

Highlights of Transaction Upon Closing:

Up front cash payment of $3.25 billion to Elan

First 12 months: royalty of 12% of Tysabri global net sales (all
indications)

Tiered royalty structure after 12 months

See full press release

Posted-In: News Guidance Contracts Management Global

 

Most Popular

Related Articles (BIIB + ELN)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free