Sunday February 23, 2020

Elan buyer in line for tax asset bonanza

Elan's tax assets will be worth billions to whoever wins the bidding process that the drug company opened last month after fending off a hostile bid from Royalty Pharma.

27th July, 2013
Kelly Martin.

Elan's tax assets will be worth billions to whoever wins the bidding process that the drug company opened last month after fending off a hostile bid from Royalty Pharma.

The company's chief financial officer, Nigel Clerkin, told analysts on a conference call after the group's interim results last Wednesday that Elan had more than $2 billion in deductions, which would allow it to earn tax-free royalties on Tysabri, the multiple sclerosis drug it spun off...

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