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Elan Agrees to Restructure Tysabri Collaboration with Biogen Idec

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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

 

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