Perrigo Lets Go of Tysabri Royalties

by | Mar 1, 2017 8:23 pm | Biotechnology, Pharmaceuticals

What goes around comes around. It doesn’t seem that long ago that the Dublin-based drug firm Elan Corporation plc was fighting off the hostile advances of Royalty Pharma. It was July 2013, in fact, when Elan agreed to be acquired by Perrigo (NYSE: PRGO) for $8.6 billion. To refresh the memory, Elan was a biotech company whose portfolio included royalties from Tysabri®, a multiple sclerosis treatment, and a neuropsychiatric pipeline with near-term value creation potential.  Early February 2013, Elan sold half of its rights to Tysabri to Biogen Idec, now known as Biogen Inc. (NASDAQ: BIIB), for $3.25 billion. At the time, the terms called for $3.25 billion upfront cash plus 12% of... Read More »

Eye Diseases Spur More M&A in July

by | Jul 13, 2015 2:49 pm | Biotechnology, Medical Devices

At least three of the deals announced so far in July have targeted companies or compounds that treat eye diseases. The first was Biogen Inc. (NASDAQ: BIIB) and its $124 million deal with Applied Genetic Technologies (NASDAQ: AGTC) for the worldwide commercialization rights to one clinical-stage and one pre-clinical therapeutic program. Last week, Allergan Inc. (NYSE: AGN) paid $125 million for Oculeve, Inc., a medical device company focused on new technologies for dry eye disease. Then, rival Valeant Pharmaceuticals International (NYSE: VRX) paid an undisclosed amount for the global rights to EyeGate Pharmaceuticals’ (OTCQB: EYEG) EyeGate II Delivery System and EGP-437 combination product... Read More »