Navigation Links
Royalty Pharma Increases Offer for Elan to $12.50 Per Share in All Cash
Date:5/20/2013

NEW YORK, May 20, 2013 /PRNewswire/ -- Echo Pharma Acquisition Limited ("Royalty Pharma") today announced, pursuant to Rule 2.5 of the Irish Takeover Rules (the "Announcement"), a firm intention to increase its offer for Elan Corporation, plc (NYSE: ELN) to $12.50 per share in cash.  The increased offer is fully financed, cash confirmed and not conditional on due diligence.  The $1.00 per share net cash right has been eliminated.  Royalty Pharma has reserved the right to waive down the Acceptance Threshold for the increased offer from 90 percent to 50 percent plus one Elan Share and will update Elan Stockholders in this regard in the Revised Offer Document. 

Royalty Pharma is offering a compelling value of $4.6 billion for Elan's Tysabri Royalty, a 42 percent premium to the $3.25 billion at which Elan sold approximately half of its interest in Tysabri to Biogen.  The increased offer also represents a premium of 45 percent to the Undisturbed Elan Enterprise Value. 

Royalty Pharma believes that Elan dramatically overpaid in the Theravance Transaction by agreeing to pay $1 billion for 21 percent of selected royalties owned by Theravance when all of Theravance was trading at $3.5 billion.  Royalty Pharma is assessing the transactions announced today.  The increased offer is therefore conditional on Elan Stockholders voting against the Theravance Transaction and all transactions announced today that are put to a shareholder vote.

Key Observations Regarding the Elan / Theravance Transaction

  • The Theravance Transaction public disclosure suggests that the transaction was pursued in haste and without critical confidential information which could significantly impair the value of the asset
  • Royalty Pharma expects that the same may be true o
    '/>"/>

SOURCE Royalty Pharma
Copyright©2012 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11

Related medicine technology :

1. Royalty Rates Take Center Stage in Biopharma Dealmaking
2. Royalty Pharma Announces Proposal To Acquire Elan
3. PDL BioPharma Provides First Quarter 2013 Royalty Revenue Guidance of $92 Million
4. Royalty Rates for Pharmaceuticals & Biotechnology: Real-Deal Information for Hundreds of Transactions
5. PDL BioPharma Completes Structured Financing and Royalty Transaction with Avinger
6. Selexis SA Sells Rights to Royalty Payments for More Than 15 Biologic Development Programs to Ligand Pharmaceuticals
7. Study Finds Utilizing Integrated Medical and Pharmacy Data Improves Ability to Forecast Use of High-cost Specialty Treatments
8. Report Presents a Framework for Successful New Oncology Product Launches in the Pharmaceutical Sector
9. WuXi PharmaTech Files 2011 Annual Report on Form 20-F
10. Savient Pharmaceuticals to Hold First Quarter 2012 Financial Results Conference Call on Wednesday, May 9, 2012
11. Pharmaceutical Industry Service Company Awarded The UKs Most Prestigious Business Accolade in Recognition of Outstanding Achievement in International Trade
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/30/2015)... und KOPENHAGEN, Dänemark, 30. Juni 2015 /PRNewswire/ ... Weltmarktführer der klinischen und kommerziellen Produktion von ... heute bekannt, dass das Unternehmen im Rahmen ... der nordamerikanischen Produktionsanlage in Bothell, ... Einweg-Anlage Bioreactor 6Pack™ komplettiert hat. Die Konfiguration ...
(Date:6/30/2015)... 30, 2015  EnteroMedics Inc. (NASDAQ: ETRM ), ... technology to treat obesity, metabolic diseases, and other gastrointestinal ... offering  of 40,229,886 units. Each unit consists of one ... warrant to purchase one share of common stock, and ... share of common stock, at a purchase price of ...
(Date:6/30/2015)... 2015  Egalet Corporation (Nasdaq: EGLT ... company focused on developing, manufacturing and marketing ... from a Category 3 human abuse liability ... oral oxycodone product candidate in late-stage clinical ... enough to require daily, around-the-clock opioid treatment ...
Breaking Medicine Technology:CMC Biologics baut GMP-Produktionskapazität in den USA aus 2CMC Biologics baut GMP-Produktionskapazität in den USA aus 3EnteroMedics Inc. Announces Pricing of $35.0 Million Public Offering of Common Stock and Warrants 2EnteroMedics Inc. Announces Pricing of $35.0 Million Public Offering of Common Stock and Warrants 3Egalet Announces Top-Line Results from Oral Human Abuse Liability Study of Egalet-002 2Egalet Announces Top-Line Results from Oral Human Abuse Liability Study of Egalet-002 3Egalet Announces Top-Line Results from Oral Human Abuse Liability Study of Egalet-002 4Egalet Announces Top-Line Results from Oral Human Abuse Liability Study of Egalet-002 5
(Date:6/30/2015)... ... June 30, 2015 , ... After many requests from international ... here, http://www.express-glasses.com is proud to announce its collaboration with DHL for ... with DHL Express when calling or visiting the express glasses website. express glasses ...
(Date:6/30/2015)... , ... June 30, 2015 , ... ... currently pending in a federal multidistrict litigation now underway in the U.S. District ... next monthly Status Conference. According to the Court’s calendar, that conference has now ...
(Date:6/30/2015)... (PRWEB) , ... June 30, 2015 , ... Rocky Mountain ... has restructured its management team and added a new CEO, Mr. Darold Francis. The ... leading selection of premium essential oils that customers have come to know and respect ...
(Date:6/30/2015)... ... June 30, 2015 , ... Allied Anesthesia physicians are ... division volunteered to help provide free outpatient procedures to some of Orange County’s ... Jude Medical Center. , The event was coordinated by AccessOC, which was ...
(Date:6/30/2015)... ... 30, 2015 , ... MJH Associates today welcomed ... Research & Analytics , a consultative healthcare market research practice that is part ... HRA offers quantitative and qualitative, custom and multi-client primary market research services to ...
Breaking Medicine News(10 mins):Health News:Eyeglasses Online - Express Glasses Announcing New International Shipping Using DHL 2Health News:Progress of Federal Xarelto Lawsuits Pending in Multidistrict Litigation to Be Discussed During July 9th Status Conference 2Health News:Progress of Federal Xarelto Lawsuits Pending in Multidistrict Litigation to Be Discussed During July 9th Status Conference 3Health News:Rocky Mountain Oils Adds New CEO, Announces Relocation of Operations to Orem, Utah 2Health News:Allied Anesthesia Physicians Volunteer to Help Orange County’s Uninsured During Annual Super Surgery Saturday 2Health News:Allied Anesthesia Physicians Volunteer to Help Orange County’s Uninsured During Annual Super Surgery Saturday 3Health News:HRA Healthcare Research & Analytics Welcomes 'Creative Problem Solver' as New Executive Vice President 2Health News:HRA Healthcare Research & Analytics Welcomes 'Creative Problem Solver' as New Executive Vice President 3
... , , SOUTH SAN ... PARD ), a biopharmaceutical company focused on innovative oncology ... executive officer, is scheduled to provide a corporate overview, including ... lead product candidate, picoplatin, at two upcoming investor conferences: , ...
... day cut risk in half in study of Finnish men ... associated with moderate- to high-intensity exercise appears to reduce the ... Finnish study included 2,560 men, aged 42 to 61, whose ... the men had a history of cancer, according to the ...
... CDC recommendations loom, new study confirms this group at great ... officials meet Wednesday to decide who should get priority for ... the virus poses to pregnant women should vault that group ... panel convened by the U.S. Centers for Disease Control and ...
... DARIEN, Conn., July 29 Now served in over 4000 schools across ... is expanding its availability into the retail sector. In addition to ... retailers Tops, D,Agostinos, Big Y, Kings and select Whole Foods ... keeps growing with Wegmans, Price Chopper and Kroger,s Eastern divisions all putting ...
... , , , ... EDI Health Group, Inc., (EHG), a provider of enhanced connectivity, ... in the dental industry, today announced significant additions to its ... during which the company implemented its industry-leading EDI (electronic data ...
... , , JACKSONVILLE, Fla., ... of Representatives for passing a bill (H.R. 3155) that will ... but endorsed a Senate bill (S. 801) that would provide ... caregivers who are in dire need of these services. H.R. ...
Cached Medicine News:Health News:Poniard Pharmaceuticals to Present at Two Upcoming Investor Conferences in August 2Health News:Prioritize Pregnant Women to Get Swine Flu Shot, Experts Say 2Health News:Prioritize Pregnant Women to Get Swine Flu Shot, Experts Say 3Health News:Prioritize Pregnant Women to Get Swine Flu Shot, Experts Say 4Health News:People Across the Country are Making The Switch! 2Health News:EDI Health Group Continues to Drive Growth of EDI Processing Services in the Dental Healthcare Industry Through Addition of 25 New Connections in the First Half of 2009 2Health News:EDI Health Group Continues to Drive Growth of EDI Processing Services in the Dental Healthcare Industry Through Addition of 25 New Connections in the First Half of 2009 3Health News:EDI Health Group Continues to Drive Growth of EDI Processing Services in the Dental Healthcare Industry Through Addition of 25 New Connections in the First Half of 2009 4Health News:Wounded Warrior Project (WWP) Pushes for Senate Bill to Assist Family Caregivers of the Most Severely Injured Veterans 2
... A surgically implanted bone growth stimulator ... EBI OsteoGen surgically implanted bone growth stimulator ... of nonunions when surgery is already planned ... concern. Because the OsteoGen is totally surgically ...
... area contact between grant material and fracture ... long bones., ,Grid-Like Format of Mesh Cathode ... Bone , ,The innovative Mesh Cathode of ... area and a scaffolding effect designed to ...
... Flexible Cystoscope System using EndoSheath Technology ... for urologists in both their hospitals ... CST-2000 flexible cystoscope with the sterile, ... cystoscopy procedures, while minimizing the costs ...
... The PK Plasma-CISE™ (wire electrodes) ... single use devices that produce ... minimal thermal spread and Vapor ... superior hemostasis. The devices provide ...
Medicine Products: