Elan Continues to Evaluate Offers, Rejects Royalty Bid

Source: PharmaManufacturing.com

Jun 10, 2013

NPR

The board of directors of the Irish drugmaker Elan Corp. PLC on Monday rejected an increased offer from Royalty Pharma and says it has received unsolicited interest from other parties it didn't name. The board of directors of the Irish drugmaker Elan Corp. PLC on Monday rejected an increased offer from Royalty Pharma and says it has received unsolicited interest from other parties it didn't name.

Royalty's latest offer last week was for $13 per share plus up to $2.50 per share in payments based on performance milestones. That offer totaled about $7.76 billion not counting the milestone payments. Read the full story.