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Elan to 'release' $1bn from Tysabri pay-off

Elan will spend $1 billion of the $3.25 billion one-off payment it is receiving from Biogen Idec for the return of rights to the blockbuster multiple sclerosis drug Tysabri to buy back around a 16% stake in the Irish company.

Elan will spend $1 billion of the $3.25 billion one-off payment it is receiving from Biogen Idec for the return of rights to the blockbuster multiple sclerosis drug Tysabri to buy back around a 16% stake in the Irish company.

Elan today released limited additional information on how it intends to use the proceeds of the transaction, which it announced...

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