
Novartis in Talks For Parts of Elan
Novartis
(NVS) - Get Report
, 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) - Get Report
and Elan, but they broke down in the early stages.
Elan markets Tysabri with
Biogen Idec
(BIIB) - Get Report
. 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.