The move follows rejection of Elan shareholders of certain key deals and withdrawal of Royalty Pharma bid.
Elan announcedon June 14, 2013, that it is proceeding with a formal sale process of the company and will invite Royalty Pharma, who had made an earlier $8-billion unsolicited takeover bid for the company to participate if Royalty Pharma wishes. On June 17, Elan shareholders voted in favor of a proposal to buy back $200 million in shares using the proceeds of Elan's sale of its share of multiple-sclerosis drug Tysabri (natalizumab). In response, Royalty Pharma withdrew its request for a judicial review of the Irish Takeover Panel’s decision requiring it to lapse its offer if Elan shareholders approved the share-repurchase program.
Although Elan shareholders approved the share repurchase at the company’s extraordinary general meeting held on June 17, they voted down three other transactions: a $1-billion deal with the US pharmaceutical company Theravance that was announced in May 2013; a proposed EUR-263.5 million ($350-million) acquisition of AOP Orphan Pharmaceuticals, a Vienna-based pharmaceutical company focused on rare and orphan diseases; and the divesture of Elan’s ELND005, a drug in clinical development for treating separate indications of Alzheimer's disease and bipolar disease to Speranza Therapeutics. In the proposed Theravance deal, Elan would have paid $1 billion in a royalty-participation agreement in which Elan would receive a 21% stake in potential future royalty payments related to four respiratory programs in which Theravance is partnered with GlaxoSmithKline.
Mastering Antibody-Drug Conjugates
December 19th 2024In this episode, we explore BIOVECTRA’s capabilities in antibody-drug conjugate (ADC) manufacturing, from complex conjugation chemistry to synthesis of highly potent payloads. We’ll also showcase how BIOVECTRA’s extensive experience in complex chemistries and specialized small molecule manufacturing gives them a unique perspective, strengthening their approach to ADC production and ensuring clients receive custom solutions across all project stages.
Regeneron Treatment for Multiple Myeloma Gets Conditional Marketing Approval from EC
April 29th 2025The indication is specific to patients who have received at least three prior therapies, including a proteasome inhibitor, immunomodulatory agent, and anti-CD38 monoclonal antibody, and have demonstrated disease progression on the last therapy.