Tag:
Elan
Latest Headlines
Latest Headlines
UPDATED: Elan pays $1B for a slice of Theravance's COPD franchise royalty stream
Elan has struck a deal to pay a billion dollars for a share of Theravance's future royalties on Breo and a slate of other respiratory drugs now in development, announcing the deal right on the heels of Breo's approval in the U.S. on Friday.
Elan spurns buyout offer, preps for deal spree
Elan's board of directors has rejected an $11.25-per-share bid by Royalty Pharma, and some analysts say that at this point there's not much likelihood that Royalty can win out in the end.
Johnson & Johnson cashes out on Elan shares after failed Alzheimer's trials
Johnson & Johnson has sold 82 million Elan shares for $11.25 per share as part of Elan's $1 billion stock buyback plan, providing J&J's Janssen unit an after-tax gain of $213 million. The "Dutch Auction" price for Elan's buyback has implication for Royalty Pharma's ongoing efforts to acquire the Ireland-based biotech for up to $7.3 billion.
Royalty Pharma ups Elan offer in battle over shareholder support
Royalty Pharma has brought a fully financed offer for Elan to the table, poking a hole in the argument from Elan management about the bidder's ability to make a credible offer. On Monday Royalty rolled out an offer of up to $12 per share, upping the ante from the investment group's previous overture.
UPDATED: Royalty Pharma drops $12/share cash offer in lap of Elan shareholders
The board of Elan recently waved off an $11-a-share buyout offer from Royalty Pharma as "highly conditional" and told the group to come back when it had something more concrete to talk about. Now Royalty is back with a rock-solid, all-cash $12-a-share offer and a bit of dismissiveness in its own talk.
Elan shareholders opt for $1B share buyback amid M&A talk
Elan shareholders have overwhelmingly approved a $1 billion share buyback from the company, cashing in on some of the spoils of the company's deal that gave Biogen Idec complete control over Tysabri.
Elan investors approve share buyback but still must decide on buyout
Being a shareholder in Elan these days is a bit like taking a multiple choice quiz in an advanced MBA class.
Elan closes $3.25B Tysabri deal and preps for biotech deal spree
Elan has wrapped up its $3.25 billion deal to sell its stake in Tysabri to Biogen Idec and begun to pivot to the next chapter in its storied journey, ready to unleash a burst of new acquisitions after it hopes to bury a buyout offer from an unwelcome suitor.
Royalty Pharma plans to press $6.6B Elan offer on investors
Anxious to win support for its $6.6 billion bid to snap up Elan before the biotech company can spending its $3.25 billion Tysabri windfall on new therapies, Royalty Pharma has announced it's ready to complete due diligence in a matter of days and is setting up meetings with Elan shareholders to press its case.
Elan woos investors with a special dividend plan for Tysabri
Elan ($ELN) has found a way to sweeten the pot for investors who may be tempted to sell their shares to a royalty group offering to cash them out following the $3.25 billion Tysabri deal.
