RBC Capital Downgrades Elan Corp (ELN) to Sector Perform
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UBS Downgrades Elan Corp (ELN) to Neutral
February 11, 2013 6:38 AM ESTUBS downgraded Elan Corp (NYSE: ELN) from Buy to Neutral.
For an analyst ratings summary and ratings history on Elan Corp click here. For more ratings news on Elan Corp click here.
Shares of Elan Corp closed at $9.82 yesterday, with a 52 week range of $9.37-$15.27.... More
Deutsche Bank Downgrades Elan Corp (ELN) to Hold; Post Tysabri Deal M&A Activity in Focus
February 6, 2013 3:46 PM ESTDeutsche Bank downgraded Elan Corp (NYSE: ELN) from Buy to Hold with a EUR 7.60 price target following the sale of Tysabri to Biogen.
The firm comments, "Elans decision to cede control of Tysabri to Biogen seems to be an attractive... More
Elan (ELN) Restructures Tysabri Collaboration w/ Biogen (BIIB); Will Get $3.25B Upfront
February 6, 2013 6:25 AM ESTElan Corp. plc (NYSE: ELN) announced that it has agreed to restructure the Tysabri collaboration with Biogen Idec (Nasdaq: BIIB). Under the terms of the agreement, Elan will move from the current 50:50 business collaboration to an upfront payment of $3.25 billion and a double digit tiered royalty structure for the complete asset.
Highlights of Transaction Upon Closing:
* Up front cash payment of $3.25 billion to Elan
* First 12 months: royalty of 12% of Tysabri global net sales (all indications)
* Tiered royalty structure after 12 months
* 18% on up to $2... More
