Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Elan Rejects New Bid From Royalty Pharma

by Rick Mullin
June 17, 2013 | A version of this story appeared in Volume 91, Issue 24

The Irish drugmaker Elan has rejected a sweetened takeover bid from Royalty Pharma valued at about $8 billion. In addition, the Irish Takeover Panel has ruled that Royalty’s bid will become null if Elan’s board votes on June 17 to approve four previously announced defensive transactions, including the divestment of Speranza Therapeutics and a $200 million share repurchase. Elan, whose main asset is royalties on the multiple sclerosis drug Tysabri, says it is considering inquiries from other potential buyers. Royalty made its first overture of $6.6 billion in February and upped it to $7.3 billion in April.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.