Bad news for Elan’s Alzheimer’s drug is turning into good news for Biogen Idec’s takeover options.
Elan sank 15 per cent, the most since 2009, on July 24th following disappointing results for bapineuzumab, an Alzheimer’s therapy developed with Pfizer and Johnson & Johnson. The failure of that drug would leave Elan with a single major product, the multiple sclerosis treatment Tysabri that Biogen co-owns, priming the $7.1 billion company...
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