TYSABRI is marketed and marketed by Biogen Idec Inc. and Elan Corporation. For more information on prescription and for more information about TYSABRI, see www.biogenidec.com. In trying to end the collaboration, Biogen says that Elan Johnson and Johnson has given the right to buy Biogen`s stake in Tysabri. This would be contrary to the cooperation agreement which prohibits the transfer of rights to third parties without the agreement of the other partner. Analysts have been speculating for several years that Biogen could take Elan to take control of Tysabri. The current agreement, under which Biogen Elan will pay $3.25 billion in cash plus royalties, gives Biogen the assets it cares most about, while Elan has money for acquisitions and development of its experimental drug pipeline to choose from. BOSTON (Reuters) – Biogen Idec Inc.`s deal to buy Corp Plcs` interest in multiple sclerosis drug Tysabri, Biogen gives full control to a product that is ready to continue its growth and has ended a long-running partnership that has often been controversial. — Terminates TYSABRI`s cooperation agreement and eliminates the change in the control regime — WESTON, Mass.–(BUSINESS WIRE)-Biogen Idec Inc. (NASDAQ: BIIB) announced today that the company has agreed to acquire Elan`s interest in TYSABRI (natalizumab) and to obtain full strategic, commercial and decisional rights in TYSABRI (natalizumab) At the end of the transaction, the cooperation agreement between the companies, which distributed the global profits of TYSABRI 50/50, will be terminated, along with the change in control rules.
Biogen Idec uses cutting-edge science to discover, develop, manufacture and commercialize therapies for serious diseases, with a focus on neurology, immunology and hemophilia. Founded in 1978, Biogen Idec is the world`s oldest independent biotechnology company. Patients around the world benefit from the best treatments for multiple sclerosis and the company has annual sales of more than $5 billion. Product labelling, press releases and other company information are available at www.biogenidec.com. Elan says the agreement is not contrary to the cooperation agreement, since Elan would acquire Biogen`s stake.