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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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    German stocks extended their record streak into a third straight day on Thursday, while a pan-European equity index erased losses to end higher after better-than-exp...

  2. EUROPE MARKETS: Europe Stocks Trim Losses After U.S. Data

    German stocks were flirting with extending its record streak into a third straight day on Thursday, while the broader European stock markets trimmed losses after bet...

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  5. EUROPE MARKETS: Europe Stocks Still Choppy After ECB Rate Cut

    European stock markets stayed choppy after a European Central Bank rate cut on Thursday, showing muted reaction to the widely expected move. On a busy day for corpor...

  6. European Stocks Cautious Ahead Of ECB Meeting

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  7. Merck 1st-Quarter Profit Down on Loss of Singulair Exclusivity

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  8. EUROPE MARKETS: Europe Stocks End Lower But Germany's DAX Gains

    European stock markets ended mostly lower on Tuesday following disappointing economic data, while strong gains for Deutsche Bank AG led the German stock index to a h...

  9. EUROPE MARKETS: Germany A Bright Spot In A Down Europe Market

    German stocks provided the lone bright spot in European stocks, where markets broadly fell on downbeat Europe and U.S. economic data and as investors stepped back ah...

  10. EARNINGS FORECAST TABLE: Sanofi 1Q 2013

    The following is a summary of analysts' forecasts for Sanofi SA (SNY) first-quarter results, based on a poll of five analysts conducted by Dow Jones Newswires (figur...

  11. Regeneron Pharmaceuticals Co-Founder Receives $81.55 Million Compensation

    Regeneron Pharmaceuticals Inc.'s (REGN) stock price tripled last year, and the compensation of co-founder and Chief Executive Leonard Schleifer nearly did, too.Mr. S...

  12. EUROPE MARKETS: Italy Leads European Stock-market Gains

    European stock markets notched moderate gains on Monday, while Italian stocks rallied on relief that a new government was sworn in over the weekend.The Stoxx Europe ...

  1. Pfizer takes its shot at a vaccine for evasive superbug

    Kathrin Jansen is a microbiologist with at least two breakthrough vaccines to her name: she brought the cervical cancer vaccine Gardasil to market for Merck and help...

  2. Pfizer to Spin Off Remaining Zoetis Stake

    Pfizer Inc. (PFE) plans to split off its remaining interest in its former animal-medicine unit Zoetis Inc. (ZTS) through a voluntary exchange offer with its sharehol...

  3. Regeneron-Sanofi Asthma Drug Shows Promising Early Results

    An experimental drug being developed by Regeneron Pharmaceuticals Inc. (REGN) and Sanofi SA (SNY) showed promising results during a small, mid-stage clinical trial i...

  4. Sanofi Could Exit Toulouse Site in 5 Years

    Sanofi SA (SAN.FR) will forge ahead with plans to restructure its French research and development operations, but will take five years to transform operations at its...

  5. Sanofi Reports Positive Results on Study on Inhibitor in Myelofibrosis

    French pharmaceutical giant Sanofi SA (SAN.FR) Friday announced a pivotal study examining JAK2 inhibitor SAR302503 for myelofibrosis (MF) had positive results.MAIN F...

  6. French Antitrust Authority Fines Sanofi EUR40.6 Million

    France's antitrust authority said Tuesday it has decided to fine French drugs giant Sanofi SA (SAN.FR) 40.6 million euros ($52.8 million) for what it called a "smear...

  7. Medicare Overpaid $529 Million for Anemia Drugs in 2011 - Report

    Medicare paid $529 million more than it should have for antianemia drugs used in the treatment of kidney dialysis patients, a new government report finds, putting fu...

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