Elan Prepares For A Buying Spree Now That Biogen Has Taken Over Tysabri

Biogen Idec announced Feb.6 that it will pay $3.25 billion to its partner Elan for full rights to the multiple sclerosis drug Tysabri. The deal was not a surprise to Biogen investors, but it leaves Elan with a war chest of cash and virtually no commercial assets.

Are you a biotech or specialty pharma that is short on funding? Well, then you might be in luck – Elan Corp. PLC is about to come into a lot of cash and is looking to spend it. The Dublin-based company doesn’t seem to have many requirements for the sort of asset it is willing to fund either, so all cash-strapped companies with late-stage or commercial assets are eligible to apply.

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