News

Elan nets $3.25bn for Tysabri
Enlarge image

BusinessIreland

Elan nets $3.25bn for Tysabri

07.02.2013 - US biotech Biogen Idec has bagged full rights to Elan's Multiple Sclerosis blockbuster Tysabri in a US$3.25bn deal.

The news came following rumours that Biogen Idec plans to take over the Irish drugmaker, after its Alzheimer antibody bapineuzumab failed in a Phase III study. Biogen instead decided to take full ownership of the currently most effective therapy for the relapsing form of multiple sclerosis (MS) for US$3.25bn. Under the terms of the agreement, Elan will receive 12% of global net sales for the first year after the deal is completed. After that, Elan will receive 18% on up to US$2bn of global net sales and 25% on any sales over that amount. Last year Tysabri made US$1.6bn (+8%) but an MAA as first line treatment filed last month is expected to further boost sales. "The restructuring of this business collaboration provides Elan with significant strategic flexibility," said the company's CEO Kelly Martin.

With the deal, Biogen Idec strengthens its MS drug portfolio after having co-marketed the antibody Tysabri with Elan since 2004. The US company filed  for US approval of its oral dimethyl-fumarate BG-12 (Tecfidera) last year. Biogen could then offer the Interferon beta-1a Avonex alongside with BG-12 and Tysabri strenghtening the company's position in the lucrative MS market against Novartis, Teva, Merck KGaA and Bayer. 

© eurobiotechnews.eu/tg 

http://www.european-biotechnology-news.com/news/news/2013-01/biogen-pays-elan-325bn-for-tysabri.html

BusinessBelgiumSpain

31.07.2015 Spanish business developer Genetrix has sold its clinical stage cell therapy development subsidiary Coretherapix to Belgian TiGenix in a deal worth up to €267m.

BusinessUKSwitzerland

29.07.2015 Newly founded Mereo BioPharma has acquired three mid-stage clinical assets from Novartis. In turn, the Swiss pharma concern will hold a stake in the UK company. Other investors are also on board.

M&AIreland

28.07.2015 Irish Allergan is bolstering its product pipeline with a takeover of CNS specialist Naurex. At the same time, the company is divesting its global generics business to Teva.

Public marketGermanyFranceBelgiumFinlandDenmarkUK

24.07.2015 Biotech companies across Europe continue to raise cash on the public markets, generating €3bn in total financing proceedings in the first half of 2015. Compared to 2014, this is almost twice as much.

FinanceFrance

23.07.2015 US money keeps flowing into Europe's biotechs. As the race for the peanut allergy market heats up, NASDAQ listed French biotech DBV has announced the successful closing of US$281m (€256m) share offering for its allergy products.

BioplasticsFrance

21.07.2015 French biotech Deinove has launched a R&D programme to produce the versatile chemical intermediate muconic acid by using a designer variant of the Deinococcus bacteria.

BusinessFrance

16.07.2015 Sanofi has announced plans to restructure its business in five standalone global business units starting in January 2016. The goal is to promote growth and help the company launch a catalogue of new drugs over the next five years.

R&DUK

15.07.2015 GlaxoSmithKline (GSK) has become the first drugmaker to join the Francis Crick Institute. It is a consortium made up of six scientific and academic institutes to conduct research and drug development in the UK. The new institute is set to become a world-leading centre of biomedical research and innovation.

FundingUK

13.07.2015 UK drug developer ReNeuron has pulled in £68.4m (€96m) for its cell therapy pipeline for stroke and blindness treatments. Biotech guru Neil Woodford increases his fund’s stake in ReNeuron.

BusinessSweden

10.07.2015 Karolinska Development has slashed the reported value of its portfolio by almost half by revising its valuation model for early stage companies and divesting its shares in pain med maker Pharmanest.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • CHRONTECH PHARMA (S)0.02 SEK100.00%
  • ERYTECH PHARMA (F)39.50 EUR9.45%
  • PAION (D)2.69 EUR8.47%

FLOP

  • BAVARIAN NORDIC (D)40.26 EUR-10.69%
  • ZELTIA (E)3.69 EUR-8.44%
  • TIGENIX (B)0.73 EUR-7.59%

TOP

  • CHRONTECH PHARMA (S)0.02 SEK100.0%
  • DBV TECHNOLOGIES (F)81.03 EUR53.6%
  • IXICO (UK)34.00 GBP41.7%

FLOP

  • BIOTEST (D)27.24 EUR-60.8%
  • BIOTECH PHARMACON (N)9.43 NOK-46.1%
  • TRANSGENE (F)2.80 EUR-23.9%

TOP

  • ADOCIA (F)88.74 EUR587.4%
  • DBV TECHNOLOGIES (F)81.03 EUR328.7%
  • FORMYCON (D)28.70 EUR315.9%

FLOP

  • CHRONTECH PHARMA (S)0.02 SEK-77.8%
  • NEUROVIVE PHARMACEUTICAL AB (S)22.70 SEK-71.6%
  • NEOVACS (F)1.01 EUR-69.5%

No liability assumed, Date: 03.08.2015