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 »

Merck Coughs Up $500 Million for Afferent

by | Jun 15, 2016 8:00 am | Biotechnology, Pharmaceuticals

Merck & Co. (NYSE: MRK) added to its product pipeline with the $500 million acquisition Afferent Pharmaceuticals, a privately held biotechnology company in San Mateo, California. Afferent develops therapeutic candidates targeting the P2X3 receptor, for the treatment of common, poorly-managed neurogenic conditions. Afferent’s lead candidate, AF-219, is a selective, non-narcotic, orally administered P2X3 antagonist. It is currently being evaluated in a Phase 2b clinical trial for the treatment of refractory, chronic cough, as well as in a Phase 2 clinical trial in idiopathic pulmonary fibrosis with cough. Merck, which is known as MSD outside the United States and Canada, paid $500... Read More »