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Royalty Pharma raises bid for Elan to potential $8 billion

Royalty Pharma raised its hostile bid for Irish drug firm Elan to a potential $8 billion on Friday, after just 7.5 percent of the target company's shareholders accepted its previous offer.The U.S. investment firm, seeking to get its hands on Elan's lucrative royalties from multiple sclerosis drug Tysabri, has already had two bids rejected by Elan's board in a battle that has turned increasingly bitter.Royalty is now offering $13 in cash per share - compared with a previous $12.50 - and added a clause known as a contingent value right that could be worth up to $2.50 per share, it said in a statement.The CVR payment means Royalty would offer Elan shareholders payouts if Tysabri passed certain sales milestones. This is a similar mechanism to that used by French drugmaker Sanofi to finalize its $20.1 billion deal for Genzyme Corp in 2011, and competes with a promise from Elan to its shareholders that it would hand over a fifth of its royalty stream from the blockbuster drug to them.Royalty...

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  1. Sanofi Forecasts Flat-to-Lower 2013 Earnings; 4Q Profit Slips 72%

    French pharmaceuticals giant Sanofi (SAN.FR) Thursday said it doesn't expect profit to grow before the second half of this year after posting a 72% decline in fourth...

  2. FDA Approves Sanofi's Kynamro to Treat Rare Cholesterol Disorder

    The U.S. Food and Drug Administration on Tuesday approved a drug called Kynamro that will be marketed by marketed by Sanofi's (SNY, SNY.FR) Genzyme unit to treat rar...

  3. FDA Accepts To Review Sanofi's Lemtrada

    French drug giant Sanofi SA (SNY)'s Genzyme unit said Monday that the U.S. Food and Drug Administration has accepted for review the company's supplemental Biologics ...

  4. Amicus, GlaxoSmithKline Say Fabry Treatment Falls Short of Goal

    Amicus Therapeutics Inc. (FOLD) and GlaxoSmithKline PLC (GSK, GSK.LN) said a late-stage study of a drug intended to treat the rare disease Fabry didn't meet its prim...

  5. European Union Rejects Isis, Genzyme Drug On Safety Concerns

    Isis Pharmaceuticals Inc. (ISIS) and Genzyme, a Sanofi (SNY, SAN.FR) business, said a European Union regulatory agency has decided not to recommend approval of its r...

  6. Sanofi's Genzyme : EU Regulator Issues Negative Opinion for Kynamro

    U.S. pharmaceutical company Genzyme, a unit of French group Sanofi SA (SAN.FR), and Isis Pharmaceuticals Inc. (ISIS) Friday said the Committee for Medicinal Products...

  7. Isis, Genzyme : CHMP Issues Negative Opinion on Cholesterol Drug

    Isis Pharmaceuticals Inc. (ISIS) and Genzyme, a Sanofi (SNY, SAN.FR) business, said the Committee for Medicinal Products for Human Use adopted a negative opinion for...

  8. Sanofi's Genzyme Unit Gets EC Approval for Thyroid Cancer Product Label Expansion

    Sanofi's (SNY) Genzyme unit has received European Commission approval of a product label expansion for the use of Thyrogen, its treatment for thyroid cancer.Thyrogen...

  9. Amicus Therapeutics, Its CEO Await Key Data on Rare-Disease Drugs

    John Crowley rose to fame in the early 2000s as a Genzyme Corp. executive who helped develop a treatment for a fatal rare disease affecting his two young children.He...

  10. Sanofi Optimistic Despite Profit Drop

    French drug maker Sanofi SA (SAN.FR) Thursday adopted a slightly more optimistic outlook for its performance for the rest of this year even as it reported a drop in ...

  11. FDA Panel Supports Genzyme , Isis Drug Mipomersen on 9-6 Vote

    A federal advisory panel voted to support the use of mipomersen, a drug that would be marketed by Sanofi's (SNY, SNY.FR) Genzyme unit to treat a rare form of a disea...

  12. FDA: Genzyme , Isis Drug Mipomersen Cuts Cholesterol but Impacts Liver

    Food and Drug Administration medical reviewers said mipomersen, a drug that would be marketed by Sanofi's (SNY, SNY.FR) Genzyme unit to treat a rare form of a diseas...

  1. Biogen Prices Multiple-Sclerosis Drug Below Rivals

    Biogen Idec Inc. (BIIB) has priced its new multiple-sclerosis pill at a discount to a competing therapy made by Novartis AG (NVS, NOVN.VX), a strategy that could spe...

  2. Biogen Idec Prices Multiple-Sclerosis Drug

    Biogen Idec Inc. (BIIB) has priced its new multiple-sclerosis pill at a discount to a competing therapy made by Novartis AG (NVS, NOVN.VX), a strategy that could spe...

  3. FDA Approves Biogen's Pill to Treat Multiple Sclerosis

    The U.S. Food and Drug Administration has approved Biogen Idec Inc.'s (BIIB) new treatment for multiple sclerosis, the company's third approved drug to treat the pro...

  4. Correction to Stories About FDA's Approval of Biogen's MS Pill

    The U.S. Food and Drug Administration has approved Biogen Idec Inc.'s (BIIB) new treatment for multiple sclerosis, the company's third approved drug to treat the pro...

  5. Sanofi, Transgene Sign Joint Venture on Immunotherapy Treatments

    French pharmaceutical company Sanofi SA (SAN.FR) and Transgene SA (TNG.FR) Monday said they signed an agreement for the creation of an industrial platform dedicated ...

  6. Gentium Gets Negative Opinion From CHMP; Biogen, Others Get Positive Opinions

    Gentium SpA (GENT) said the European Medicines Agency's Committee for Medicinal Products for Human Use issued a negative opinion, recommending the refusal of marketi...

  7. Sanofi's Genzyme Sees Positive Results From 2 Gaucher Disease Drug Studies

    Sanofi's (SNY) Genzyme unit said results from two late-stage studies of its investigational oral therapy for Gaucher disease were positive.Results from the Phase 3 E...

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