News Summary: Elan, Biogen revise Tysabri deal
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Source: Business News
Originally published: Feb 6, 2013 - 4:08 pm
Originally published: Feb 6, 2013 - 4:08 pm
(AP) - TAKING OVER: Biogen Idec will take over full ownership of the multiple sclerosis treatment Tysabri from its partner Elan Corp. PLC in exchange for a $3.25 billion cash payment and royalties on future sales.
CAPITAL IDEA: The drug developers currently split earnings from Tysabri, but Elan said the new deal will give it capital for investing and growing its business.
DIRECT INJECT: Tysabri is a drug taken intravenously once a month to combat to treat a form of multiple sclerosis that cycles between stages of relapse and remission.
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