About Us Direct to You Research Archives Currencies Shares Media
Monitoring Home

PRODUCT PROFILE

Latest Dublin Prices

NAME	LATEST	CHANGE
Aer Lingus	1.56	0.00	more
BoI	0.19	0.00	more
CRH	16.22	-0.19	more
Elan	9.51	0.04	more
Glanbia	10.74	-0.06	more
Grafton	5.61	0.07	more
Greencore	0.64	-0.02	more
Ind. News	0.12	0.01	more
Ryanair	6.67	-0.08	more

Shares in full

Royalty ready to move fast on Elan bid

Wednesday, March 06 14:26:50

U.S. investment firm Royalty Pharma stood by its offer today to acquire Irish drugmaker Elan, which has rejected the approach, saying it was ready to move quickly and that it could complete due diligence in 20 days.

It also said it was meeting with Elan shareholders.

Royalty Pharma made a $6.6 billion approach last week after Elan announced last month a $3.2 billion plan to sell its 50 percent stake in multiple sclerosis drug Tysabri to its U.S. partner Biogen Idec.

Elan rejected Royalty Pharma and on Monday sweetened its offer to shareholders, saying that it would give them 20 percent of future royalties from the drug. It had already planned to return $1 billion to shareholders after the drug sale.

Business World is a service of Media World Ltd. All rights reserved. While every effort has been made to ensure the accuracy of the data provided, neither Media World Ltd nor its agents or representatives will be responsible for any loss or damage on the part of users however caused. The service is for entertainment only, and no decisions, particularly investment decisions, should be taken on the basis of information supplied in the service.