Navigation Links
Royalty Pharma Statement Regarding Elan Proposal
Date:3/6/2013

ociated with ELND005). There are also US$60-80 million of remaining expenses associated with bapineuzumab in 2013[6] (Royalty Pharma believes there to be no apparent value in excess of the investment requirement).

Other considerations

As described elsewhere in this announcement, Royalty Pharma believes that there is a very real possibility that Elan could destroy value through its acquisition strategy.

A compelling financial propositionThe Proposal Price represents a substantial premium to comparable companies' trading multiples

The Proposal Price represents:

  • a Proposal Enterprise Value for Elan equal to 12.2x 2015E Broker Projected EBITDA (the median 2015E projected EBITDA multiple for the Specialty Pharma Companies is 5.9x[7], and for the Large Cap Biotech Companies is 9.1x);
  • a Proposal Price equal to 30.6x 2015E Broker Projected Earnings Per Share (the median 2015E projected earnings per share multiple for the Specialty Pharma Companies is 8.7x, and for the Large Cap Biotech Companies is 11.3x); and
  • a Proposal Enterprise Value for Elan equal to 8.3x 2015E Broker Projected Revenue (the median 2015E projected revenue multiple for the Specialty Pharma Companies is 2.4x and for the Large Cap Biotech Companies is 4.8x).
  • Royalty Pharma believes that it is useful to compare Elan's trading multiples with the trading multiples of other companies with acquisition-led business models similar to Elan's proposed strategy.

    For example, Royalty Pharma considers Valeant and Jazz to be successful specialty pharmaceutical companies whose business models include significant growth through acquisitions. As with Elan, these companies also have non-US tax domiciles. In contrast to Elan, Royalty Pharma believes that these companies have established operations enabling them to derive synergies from transactions.

    Valeant is trading on a 8.7x 2015E projected earnings per share multiple[8] and Jazz
    '/>"/>

    SOURCE RP Management, LLC
    Copyright©2012 PR Newswire.
    All rights reserved

    Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

    Related biology technology :

    1. PDL BioPharma Provides Third Quarter 2012 Royalty Revenue Guidance of $85 Million
    2. Cowen Healthcare Royalty Partners Raises $1 Billion
    3. Array Biopharma and Global Blood Therapeutics Announce Drug Discovery Collaboration Focused on Hematology
    4. Radiopharmaceuticals Market - Global Industry Analysis, Size, Share, Trends And Forecast, 2012 - 2018: MarketResearchReports.Biz
    5. Alexandria Real Estate Equities, Inc. Announces Long-Term Lease with Leading Global Commercial-Stage Oncology Company, Onyx Pharmaceuticals, Inc., for New Build-to-Suit Facility in South San Francisco, California
    6. AVANIR Pharmaceuticals To participate in two conferences in March
    7. Favorable Scenario for Japan Pharma Industry in Coming Years, New Report Says
    8. Hyperion Wins NDA Approval for UCD Drug Developed With Support from PharmaDirections
    9. Technical Analysis on VIVUS and Achillion Pharma: Highlights on These Biotech Companies
    10. Auxilium Pharmaceuticals, Inc. Announces Fourth Quarter and Full Year 2012 Financial Results and Guidance for 2013
    11. Serialization in Pharmaceuticals, a Webinar Presented by Xtalks
    Post Your Comments:
    *Name:
    *Comment:
    *Email:
    (Date:1/22/2015)... 22, 2015  Transwestern | RBJ today announces the firm brokered ... for Shire a leading biopharmaceutical company, at Two Ledgemont Center ... Robert Richards , president, and Brian Cohen , ... entire five-floor building at 95 Hayden Ave. Photo ...
    (Date:1/22/2015)... Protocol Networks brings independent technology consulting to the ... consultants, Protocol Networks has recently announced its expansion into ... his company has attracted several clients in The Constitution ... as others. With the success of these engagements, Rogers ...
    (Date:1/22/2015)... Controlled Substance Compliance Services (CSCS), a project managed ... legal requirements around using controlled substances in pharmaceutical research, ... their international operations expand and become increasingly complex, large ... a result of the first phase of the CSCS ...
    (Date:1/22/2015)...  Varian Medical Systems (NYSE: VAR ), world leader ... commitment to sustainability with inclusion on a prestigious list of ... healthcare equipment company among the Corporate Knights Global 100 Most ... at Davos, Switzerland . ...
    Breaking Biology Technology:Transwestern | RBJ Advises Shire in 202,000 SF Lease, Creating Boston's Largest Suburban Biotech Campus 2Protocol Networks Brings Independent Technology Consulting to the Constitution State 2Global Compliance Service for Controlled Substances to Expand to China 2Varian Honored Among World's 100 Most Sustainable Corporations 2
    ... ROCKVILLE, Md., March 17 Novavax, Inc. (Nasdaq: ... fourth quarter financial results in a press release to be ... The Company will hold an investor conference call to discuss ... 30, 2009. The call will be hosted by Novavax President ...
    ... /PRNewswire-FirstCall/ - BioMS Medical Corp. (TSX: MS), a leading ... announced financial and operational results for the year ended ... to safely affect MS progression in previous studies and ... trial (MAESTRO-01) in the second half of this year," ...
    ... Magellan Biosciences, an emerging leader in systems for ... North American Product Innovation Award for LeadCare II, ... adults to be screened for lead poisoning faster, ... Diagnostics, James Whelan, will accept the award tomorrow ...
    Cached Biology Technology:Novavax Announces Release Date of 2008 Fourth Quarter Financial Results and Investor Conference Call 2Novavax Announces Release Date of 2008 Fourth Quarter Financial Results and Investor Conference Call 3BioMS Medical Announces 2008 Year End Results 2BioMS Medical Announces 2008 Year End Results 3BioMS Medical Announces 2008 Year End Results 4BioMS Medical Announces 2008 Year End Results 5BioMS Medical Announces 2008 Year End Results 6BioMS Medical Announces 2008 Year End Results 7BioMS Medical Announces 2008 Year End Results 8BioMS Medical Announces 2008 Year End Results 9BioMS Medical Announces 2008 Year End Results 10BioMS Medical Announces 2008 Year End Results 11Magellan to Receive Frost & Sullivan 2009 North American Product Innovation Award; Three-Minute LeadCare(R) II Test Identifies Children with Lead Poisoning 2Magellan to Receive Frost & Sullivan 2009 North American Product Innovation Award; Three-Minute LeadCare(R) II Test Identifies Children with Lead Poisoning 3Magellan to Receive Frost & Sullivan 2009 North American Product Innovation Award; Three-Minute LeadCare(R) II Test Identifies Children with Lead Poisoning 4
    (Date:12/17/2014)... fundamentally transforming the travel experience and nowhere is this ... decade, ePassports, biometric readers, and secure document scanners have ... via eGates and Automated Passport Control (APC) Kiosks at ... across the globe. According to ...
    (Date:12/11/2014)... Dec. 10, 2014  That blood pressure plays a role in ... – the medical term for high blood pressure – was ... the inflatable cuff that,s used in measuring blood pressure was ... nothing new about hypertension, its triggers and its effects. In ...
    (Date:12/10/2014)... , Dec. 9, 2014  Wake Forest Baptist Medical Center ... its School of Medicine. Funding for this $50 million capital ... be publicly launched next summer. The medical ... R.J. Reynolds Tobacco Company complex, adjacent to 525@vine in Wake ...
    Breaking Biology News(10 mins):Automated Border Control (ABC) Transforms the Global Travel Experience With More Than 2500 ABC eGates and APC Kiosks Deployed In Airports, Seaports, and Land Borders Worldwide 2Research points to need for new approaches to treatment of high blood pressure 2Research points to need for new approaches to treatment of high blood pressure 3Research points to need for new approaches to treatment of high blood pressure 4Wake Forest Baptist to Build New Medical Education Facility In Wake Forest Innovation Quarter 2Wake Forest Baptist to Build New Medical Education Facility In Wake Forest Innovation Quarter 3Wake Forest Baptist to Build New Medical Education Facility In Wake Forest Innovation Quarter 4
    ... in a blood vessel from inside that vesselis ... injuries from high-speed collisions or falls (together referred to ... lives and nearly eliminate paraplegia (the loss of the ... of surgical repair for thoracic aortic aneurysms. "Analysis ...
    ... of America will hold its 93rd annual meeting on ... was founded in 1915 to promote the practice and ... highlight the interdisciplinary nature of ecology and linking research ... research will be presented at the meeting, including a ...
    ... guerrilla war against the human immune system for eons, but ... has exposed one of the tricks malaria uses to ... drug development. , Malaria parasites (plasmodia) are transmitted to people ... first set up shop in liver cells, then move into ...
    Cached Biology News:Stent grafts: a better way to treat blunt trauma injuries 2ESA to feature wide range of UW-Madison presentations 2ESA to feature wide range of UW-Madison presentations 3ESA to feature wide range of UW-Madison presentations 4ESA to feature wide range of UW-Madison presentations 5ESA to feature wide range of UW-Madison presentations 6ESA to feature wide range of UW-Madison presentations 7ESA to feature wide range of UW-Madison presentations 8Research exposes new target for malaria drugs 2
    Mouse monoclonal [7A6] to NFAT2 ( Abpromise for all tested applications). entrezGeneID: 4772 SwissProtID: O95644...
    Request Info...
    Immunogen: C terminus [VQLKRSKNDSKPYC] of cardiac elav-type RNA-binding protein (ETR-3) Storage: -20 C, Avoid Freeze/Thaw Cycles...
    Standard 2" and 3" Fiberboard Boxes can be sold separately or with 16, 25, 36, 49, 64, 81 or 100 cell dividers. Fiberboard boxes can also be ordered with corresponding freezer racks...
    Biology Products: