Report J&J's Deal With Elan Could Turn Its Attention Toward Biogen (BIIB)

According to reports from the Wall Street Journal's Deal Journal blog, following Johnson & Johnson's (NYSE: JNJ) deal to acquire a large stake in Elan (NYSE: ELN), J&J could turn its attetion toward Biogen Idec (Nasdaq: BIIB), which partners with Elan on MS drug Tysabri.

Shane Cooke, Elan's CFO told Deal Journal that JNJ and Elan also have "arrangements in place" relating to Biogen and the multiple-sclerosis drug it markets with Elan.

SI Note: The speculation sounds like a stretch to us, but it's out there now.

Link to Deal Journal Article

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