Novartis in Talks For Parts of Elan
Novartis(NVS), the Swiss drugmaker, is in talks to buy certain operations from Ireland's Elan(ELN), according to a report from London's Sunday Times.
The sale would include biotechnology company Elan's flagship multiple sclerosis treatment Tysabri and its Alzheimer's disease pipeline, the newspaper said. A "well-placed source" confirmed the talks but added that the "complexity of the deal made a decision some way off," the Sunday Times reported. Strategic talks reportedly were held in May between Bristol-Myers Squibb (BMY) and Elan, but they broke down in the early stages. Elan markets Tysabri with Biogen Idec(BIIB). The company also is developing a high-profile experimental drug for Alzheimer's disease in partnership with Wyeth(WYE). Back in January, Elan hired Citigroup as an adviser to review alternatives, including a minority investment, an alliance, or a merger or sale of the company.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
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