26.02.2013 - Pharma IP investor Royalty Pharma has made a US$6,5bn take-over bid for Elan Corp. plc after the Irish company sold its bestseller Tysabri to Biogen Idec.
The bid came directly after Elan had sold its multiple sclerosis drug Tysabri (natalizummab) to its long-term partner Biogen Idec, securing the company US$3.25bn. On February 22nd, Elan said it planned a share buyback of US$1bn and will focus on acquisitions after having sold its bestseller. Additionally, the company announced it will refinance its US$600m in debt.
On February 25th, Royalty published a take-over offer of US$11 per share, valuing Elan at US$6.55bn, a 3.8% premium to Elan’s closing share price on February 22nd. Royalty said that it already attempted to start negotiations with Elan on February 18th, after offering the price to Elan’s management. Yesterday, the investor directly asked shareholders if they want to stay invested in a company that has nothing but cash and royalty streams from Tysabri.
Analysts however suggested that Elan would be worth more than US$15 per share. Elan’s Board confirmed the bid, but called the timing of the bid „highly conditional“ and a „proposal , which may or may not lead to an offer being made for the entire share capital of the company“. Pointing to the Tysabri deal, the management added that the company has been working „for more than a year on a number of strategic transactions that would be to the benefit of our public shareholders“. However, any credible proposal will be considered, said the management. After having spun off its antibody drug discovery arm Prothena Corp. plc, Elan is working with giants Johnson & Johnson and Pfizer Inc. on ELND005, a Phase II drug to treat Alzheimer’s disease.
24.08.2016 Pharma major Pfizer is putting the cherry on top of its multi-billion-dollar takeover of Medivation with the acquisition of AstraZeneca’s antibiotics for a cool US$1.5bn. With the divestment, AZ aims to further sharpen its focus.
23.08.2016 Cambridge University-allied investor Cambridge Innovation Capital has raised £75m (€87m) to reinvest in technology and healthcare companies. Among the backers were Woodford Investment and Winton Ventures.
19.08.2016 Together with partner Johnson & Johnson, Danish biotech Genmab is now one step closer to FDA approval with its combination treatment for multiple myeloma after its submission of a supplemental Biologics License Application. In July, Genmab was granted a Breakthrough Therapy Designation (BTD) for its blood cancer therapy.
17.08.2016 Philip Hammond, the UK’S chancellor has announced the government will guarantee funding for EU-backed "structural and investment fund" projects whose timelines extend beyond the UK’s departure from the EU, provided the projects are signed prior to this year's Autumn Statement on the UK budget. The decision ensures continued funding for farmers, companies and institutions involved in the EU’s Horizon 2020 project. The move could cost the UK government up to £6bn (€6.9bn).
15.08.2016 Back in April, the American FDA gave the green light for the colorectal cancer-screening test Epi procolon. Now Berlin-based diagnostics specialist Epigenomics is considering a secondary listing in the US. A draft of the required registration document was confidentially submitted to the US Securities and Exchange Commission (SEC).
09.08.2016 Hungarian Gedeon Richter and Irish Allergan are staying on course in the face of dissappointing Phase III results for depression drug cariprazine. The partners will now begin another Phase III study needed for approval.
08.08.2016 Araclon Biotech’s Alzheimer’s vaccine ABvac40 is going forward into Phase II after showing a good safety profile in Phase I. The promising trial results were presented at the Alzheimer’s Association International Conference.
01.08.2016 Life science venture capital group Epidarex has launched Nodthera Ltd, a biotech based on research by Poland-based drug discovery company Selvita. The start-up aims to develop novel inhibitors of the NLRP3 inflammasome.
FILTRODISC™ BIO SD is a filtration system which removes particles (e.g. cells, bacteria, yeast), impurities (e.g. HCP, DNA) and other turbid matter from process liquids (e.g. fermentation broths). more