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Elan merges drug delivery unit EDT with Alkermes; deal valued at $953mm
22 Mar 2013
Executive Summary
After several years of mulling over a potential divestment or spin off, Irish drug maker Elan Corp. PLC has finally achieved closure for Elan Drug Technologies Inc.: Elan is merging the drug delivery subsidiary with Alkermes Inc. (therapeutics for CNS diseases, diabetes, and rheumatoid arthritis) in a deal valued at $953mm. Elan says the transaction will allow it to reduce the debt on its balance sheet by one-third and to put more resources into its bioneurology business, including gaining additional market share for the MS drug Tysabri.
Deal Industry
- Pharmaceuticals
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Pharmaceuticals
-
Drug Delivery
- Controlled Release
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Drug Delivery
Deal Status
- Final
Deal Type
-
Acquisition
- Full Acquisition
- Includes Contract
- Payment Includes Cash
- Payment Includes Stock
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