Since the Phase III failure of its Alzheimer’s drug bapineuzumab in 2012, Elan Corp. PLC has been scrambling to reinvent itself, leaving investors bewildered by its rapid-fire, seemingly irrational decisions.
Acquisitions worth $1.44 billion in total and a re-negotiation of a lucrative deal with Biogen Inc. over its multiple sclerosis drug Tysabri (natalizumab) were all announced between February and...
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