Royalty Pharma Withdraws Elan Bid

Source: PharmaManufacturing.com

Jun 20, 2013

The New York Times

Following a fierce four-month acquisition battle, Royalty Pharma has dropped its takeover offer of $6.7 billion for Irish drug company Elan. Trouble over shareholder votes and share buyback plans caused issues in the takeover process. As a result, Royalty Pharma announced they would no longer pursue the judical review initially requested. Elan's future now remains uncertain. The company put itself up for sale last week. Read the full story.
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