Court Date for Biogen and Elan Set for Sept. 3
This article was originally published in The Pink Sheet Daily
The partners, who are litigating over Tysabri, face off earlier than expected.
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Elan's new deal with J&J over its key Alzheimer's assets runs into a brick wall: Biogen.
Elan reveals a hidden sweetener in its J&J deal, which will enable it to bid for the half of Tysabri it doesn't already own in the event Biogen is bought.
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