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Elan merges drug delivery unit EDT with Alkermes; deal valued at $953mm

Executive Summary

After several years of mulling over a potential divestment or spin off, Irish drug maker Elan Corp. PLC has finally achieved closure for Elan Drug Technologies Inc.: Elan is merging the drug delivery subsidiary with Alkermes Inc. (therapeutics for CNS diseases, diabetes, and rheumatoid arthritis) in a deal valued at $953mm. Elan says the transaction will allow it to reduce the debt on its balance sheet by one-third and to put more resources into its bioneurology business, including gaining additional market share for the MS drug Tysabri.
Deal Industry
  • Pharmaceuticals
    • Drug Delivery
      • Controlled Release
Deal Status
  • Final
Deal Type
  • Acquisition
    • Payment Includes Cash
    • Includes Contract
    • Payment Includes Stock
    • Full Acquisition

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