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

Stock MarketsIrelandUK

05.03.2015 The IPO wave in the biotech sector shows no signs of slowing down. An Irish life sciences fund set up by former Elan executives plans to raise €325m with its IPO, whilst Summit Therapeutics has announced its IPO pricing of US$34m on Nasdaq.

LicencingDenmark

05.03.2015 Bavarian Nordic is outlicensing its Phase 3 prostate cancer immunotherapy Prostvac to pharma heavyweight Bristol Myers Squibb for a tidy €881m.

BusinessUK

03.03.2015 After weeks of speculation, AstraZeneca has announced its plans to spin out its early-stage antibiotic R&D. The decision marks the company’s aims to “sharpen its focus on three main therapy areas”.

GenericsEUUKHungaryGermanyItalyGreeceAustriaLuxembourgFranceSpain

26.02.2015 It is the first biosimilar monoclonal antibody in many European markets: Mundipharma and Hospira are launching Celltrion’s Remicade generic.

M&AUK

23.02.2015 British drug developer Heptares has been acquired by Japanese biopharma play Sosei for US$400m (€352m).

bioethanolGermanyUKBelgiumFrance

19.02.2015 The price of oil has been sliding for months, and the European bioethanol market is taking it hard. CropEnergies AG has now stopped production at its British unit Ensus UK.

BusinessFranceGermany

17.02.2015 After Christopher Viehbacher’s unceremonious ousting last year, Sanofi has been on the look out for a new CEO. Now, sources say Bayer’s Olivier Brandicourt is set to fill the position.

BusinessUKSwitzerland

12.02.2015 Glaxosmithkline is intent on bolstering its vaccine portfolio further and has bought all shares of Swiss development partner Glycovaxyn.

InvestmentsUKEU

10.02.2015 Interest in biotechnology is on the rise among British investors. Not just one, but two major financiers are planning investment funds in the field.

Events

All Events

Partner-Events

Planegg/Martinsried

1st Munich Biotech Pitch

Berlin (DE)

Proteomic Forum 2015

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • CYTOS1.30 CHF176.60%
  • MEDIGENE4.97 EUR9.23%
  • FORMYCON18.70 EUR7.47%

FLOP

  • VITA 345.30 EUR-5.36%
  • BIOFRONTERA1.98 EUR-4.35%
  • ADDEX3.06 CHF-3.16%

TOP

  • CYTOS1.30 CHF282.4%
  • WILEX3.23 EUR51.6%
  • FORMYCON18.70 EUR25.1%

FLOP

  • MOLOGEN5.13 EUR-16.0%
  • SANTHERA96.10 CHF-12.4%
  • MAGFORCE5.44 EUR-10.8%

TOP

  • SANTHERA96.10 CHF2339.1%
  • WILEX3.23 EUR429.5%
  • FORMYCON18.70 EUR142.9%

FLOP

  • MOLOGEN5.13 EUR-56.7%
  • PAION2.06 EUR-54.6%
  • CYTOS1.30 CHF-54.4%

No liability assumed, Date: 06.03.2015