Elan Insists Remaining Alzheimer's Portfolio Has Deep Roots And New Shoots
Now that Elan has sold its immunotherapy-based drug candidates for Alzheimer's disease to Johnson & Johnson, management says it wants to focus even more intensely on the remaining pipeline, including a series of early-stage drug candidates related to Alzheimer's
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The Irish company is still dealing with the after-effects of splitting apart its business in 2011, including its search for a new CEO. Meanwhile, Elan’s lead revenue driver, Tysabri continues to grow.
Ireland's Elan Corp. launches a $10 million center for neuroscience R&D with University of Cambridge academics.
Six months after announcing it was looking at strategic alternatives, Elan's beleaguered management has found a way to address its challenges: It announced July 2 that it is selling its Alzheimer's immunotherapy program (AIP), which includes the high-profile Alzheimer's disease drug bapineuzumab and all related assets, to Johnson & Johnson for what essentially amounts to $500 million in the near-term and a commitment from J&J to buy an 18.4 percent stake in Elan for $1 billion