Royalty Increases Bid as Elan Unveils Acquisitions

Source: PharmaManufacturing.com

May 22, 2013

PharmaTimes Online

Just as Elan Corp. announced a range of transactions "designed to decisively transform and advance the company", Royalty Pharma has resurfaced to raise its bid to acquire the Irish drugmaker.

A week after announcing a $1 billion deal giving it access to royalties from Theravance's four respiratory drugs partnered with GlaxoSmithKline, Elan is paying 263.5 million euros in cash and shares (and possibly another 270 million euros) to acquire Austria's AOP Orphan Pharmaceuticals and will buy a 48% stake in Dubai's NewBridge Pharmaceuticals for $40 million. Read the full story