Biogen Idec To Acquire Full Rights And Control Of TYSABRI® From Elan For Upfront Cash And Contingent Payments

Biogen Idec Inc. (NASDAQ: BIIB) today announced the company has agreed to purchase Elan’s interest in TYSABRI (natalizumab) and upon closing will gain full strategic, commercial and decision-making rights to TYSABRI. Upon the closing of the transaction, the previous collaboration agreement between the companies, whereby worldwide TYSABRI profits were split 50/50, will be terminated along with the agreement’s change of control provisions.
Source: Pharmaceutical Online News - Category: Pharmaceuticals Source Type: news