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Business
Elan And Biogen Revamp MS Drug Pact
by Lisa M. Jarvis
February 11, 2013
| A version of this story appeared in
Volume 91, Issue 6
Biogen Idec will pay Elan $3.25 billion to take over full rights to the multiple sclerosis treatment Tysabri. The companies have been equal partners in the product, which last year had sales of $1.6 billion. After the deal, Elan will receive double-digit royalties on future Tysabri sales. Elan has been disassembling itself in recent years, selling off its drug formulation unit to Alkermes and spinning off its drug discovery business as Neotope Biosciences. Cash from the Tysabri sale will provide Elan with “significant strategic flexibility,” says CEO Kelly Martin.
The power is now in your (nitrile gloved) hands
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