Alkermes to Purchase Elan’s Drug Delivery Unit for US$960 M in Cash and Stock
By Heather Cartwright
Pharma Deals Review: Vol 2011 Issue 5 (Table of Contents)
Published: 13 May-2011
DOI: 10.3833/pdr.v2011.i5.1471 ISSN: 1756-7874
Section: Mergers & Acquisitions
Fulltext:
Abstract
Elan has finally found a buyer for its drug delivery unit by entering into a US$960 M agreement to merge Elan Drug Technologies with Alkermes. Elan will receive US$500 M in cash and a 25% equity stake in the merged entity, Alkermes plc, which will be incorporated in Ireland and quoted on Nasdaq. The new company will focus on CNS therapeutics and will have a portfolio of 25 marketed products based on its drug delivery technologies and pro forma revenues in excess of US$450 M annually.
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