Elan completes $3.25bn Tysabri sale

Irish-based drugmaker Elan Corporation has said that it has closed the sale of its share of multiple sclerosis drug Tysabri to its joint venture partner Biogen Idec.

3rd April, 2013
Elan chief executive Kelly Martin.

Irish-based drugmaker Elan Corporation has said that it has closed the sale of its share of multiple sclerosis drug Tysabri to its joint venture partner Biogen Idec.

Under the terms of the agreement, first announced in February, Elan has received $3.25 billion in cash and will receive double digit tiered royalty payments, on all indications, for the

life of Tysabri.

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