Tag Archives: Elan Corporation

News, Politics, Government

SEC Sues Steven A. Cohen; Seeks Lifetime Bar From Managing Investor Funds

Leave a comment

By Jordan Maglich, Contributor

The Securities and Exchange Commission (“SEC”) has announced the institution of administrative proceedings against Steven A. Cohen, the founder of SAC Capital Advisors (“SAC Capital”), alleging that he ignored various “red flags” that should have alerted him to insider trading by several employees.  The charges come just days before the expiration of a statute of limitations on the majority of the conduct alleged by authorities, including the realization of collective profits of nearly $300 million from a favorable trade involving pharmaceutical giants Wyeth and Elan Corporation in July 2008.  In a press release announcing the charges, the SEC indicated that it will be seeking an order prohibiting Mr. Cohen from overseeing investor funds – a potentially fatal blow to Cohen’s efforts to downplay concerns by SAC Capital investors. …read more

Source: FULL ARTICLE at Forbes Latest

Business, Finance, Occupation & Industry

Elan EGM Resolution Passed with over 99% Approval

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Elan EGM Resolution Passed with over 99% Approval

DUBLIN–(BUSINESS WIRE)– Elan Corporation, plc (NYS: ELN) announces that, at an Extraordinary General Meeting (EGM) held earlier today, the sole ordinary resolution to approve the Tender Offer to purchase Ordinary Shares (including Ordinary Shares represented by American Depositary Shares) was overwhelmingly passed with over 99% of the shares voted in favor of the resolution. The full text of the resolution was included in the notice of the EGM dated March 14, 2013 which is available on the Company’s website. The details of the votes lodged by proxy are also available on www.elan.com

About Elan

Elan is a biotechnology company, headquartered in Ireland, committed to making a difference in the lives of patients and their families by dedicating itself to bringing innovations in science to fill significant unmet medical needs that continue to exist around the world. For additional information about Elan, please visit http://www.elan.com.

The Directors of Elan accept responsibility for the information contained in this announcement. To the best of their knowledge and belief (having taken all reasonable care to ensure such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.

Any holder of 1% or more of any class of relevant securities of Elan or of Royalty Pharma may have disclosure obligations under Rule 8.3 of the Irish Takeover Panel Act, 1997, Takeover Rules 2007 (as amended).

###

Elan Corporation, plc
Investor Relations:
Chris Burns
Ph: + 1-800-252-3526
or
David Marshall
Ph:+ 353-1-709-4444
or
Media Relations
Emer Reynolds
Ph: + 353-1-709-4022
or
Jonathan Birt/FTI Consulting
Ph: +44-751-559-7858
or
Jamie Tully/Sard Verbinnen & Co
Ph: +1-212-687-8080

KEYWORDS:   United Kingdom  United States  Europe  North America  Ireland

INDUSTRY KEYWORDS:

The article Elan EGM Resolution Passed with over 99% Approval originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe

From: http://www.dailyfinance.com/2013/04/12/elan-egm-resolution-passed-with-over-99-approval/

Business, Finance, Occupation & Industry

Elan Welcomes Irish Takeover Panel Statement

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Elan Welcomes Irish Takeover Panel Statement

DUBLIN–(BUSINESS WIRE)– The Board of Elan Corporation, plc (NYS: ELN) (the Company) welcomes this morning’s imposition by the Irish Takeover Panel of an expected May 10, 2013 deadline on Royalty Management LLC (Royalty Pharma) (following their original indication of interest announcement of February 25, 2013) by which Royalty Pharma must either announce an offer for Elan under Rule 2.5 of the Irish Takeover Rules or announce that it will not proceed with an offer for Elan. Elan’s focus remains on implementation of its stated strategy, particularly following the closing of the Tysabri Transaction on April 2, 2013. Elan’s position remains as outlined on February 25, 2013:

  • The “proposal” by Royalty Pharma remains an indication of interest, is highly conditional and may or may not lead to an offer being made for the entire issued share capital of the Company.
  • The highly conditional indication of interest is opportunistic in its timing.
  • Any credible proposal which may be made by Royalty Pharma or any other party will of course be considered by the Company alongside the strategic transactions and unique investment thesis referred to in our recent announcements in February 2013.

Further announcements and business updates by the Company will be made as appropriate.

The Directors of Elan accept responsibility for the information contained in this announcement. To the best of their knowledge and belief (having taken all reasonable care to ensure such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.

Any holder of 1% or more of any class of relevant securities of Elan or of Royalty Pharma may have disclosure obligations under Rule 8.3 of the Irish Takeover Panel Act, 1997, Takeover Rules 2007 (as amended).

About Elan

Elan is a biotechnology company, headquartered in Ireland, committed to making a difference in the lives of patients and their families by dedicating itself to bringing innovations in science to fill significant unmet …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Biogen Idec Completes Purchase of Full Rights and Control of TYSABRI®

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Biogen Idec Completes Purchase of Full Rights and Control of TYSABRI®

WESTON, Mass.–(BUSINESS WIRE)– Biogen Idec (NAS: BIIB) today announced it has completed its purchase of Elan Corporation‘s interest in TYSABRI® (natalizumab) and has gained full strategic, commercial and decision-making rights to TYSABRI. The transaction was originally announced on February 6, 2013.

“Full ownership of TYSABRI is an important step for Biogen Idec that further solidifies our leadership in MS,” said George A. Scangos, Ph.D., chief executive officer of Biogen Idec. “The powerful efficacy of TYSABRI makes it an important treatment for many people living with MS and we believe it has a solid growth trajectory for years to come. We are grateful to Elan for more than a decade of collaboration on TYSABRI, and for their work to provide a seamless transition as we finalized the transaction.”

Further details and updated financial guidance will be provided during Biogen Idec‘s upcoming first quarter 2013 earnings announcement.

For more than two decades Biogen Idec has been a leader in multiple sclerosis (MS), offering a wide range of therapies, unsurpassed patient support, and a robust R&D program to improve the lives of people with MS. Biogen Idec also has the deepest MS pipeline in the industry with compounds that include PLEGRIDY™ (peginterferon beta-1a); daclizumab high-yield process (DAC HYP) for monthly subcutaneous administration; and an ongoing study with TYSABRI as a treatment for secondary progressive multiple sclerosis (SPMS).

About TYSABRI

TYSABRI is approved in more than 65 countries. TYSABRI is approved in the United States as a monotherapy for relapsing forms of MS, generally for patients who have had an inadequate response to, or are unable to tolerate, an alternative MS therapy due to the risk of progressive multifocal leukoencephalopathy (PML). In the European Union, it is approved for highly active relapsing-remitting MS (RRMS) in adult patients who have failed to respond to beta interferon or have rapidly evolving, severe RRMS.

TYSABRI has advanced the treatment of MS patients with its established efficacy. Data from the Phase 3 AFFIRM trial, which was published in the New England Journal of Medicine, showed that after two years, TYSABRI treatment led to a 68 percent relative reduction (p<0.001) in the annualized relapse rate when compared with placebo and reduced the relative risk of disability progression by 42-54 percent (p<0.001).

TYSABRI increases the risk of PML, an opportunistic viral infection of the …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

New TYSABRI Data Reaffirm Substantial Efficacy in Treatment of People with MS and Demonstrate Stabil

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

New TYSABRI Data Reaffirm Substantial Efficacy in Treatment of People with MS and Demonstrate Stability of Anti-JCV Antibody Status

– Continued Research into Risk Stratification and PML Early Detection Provides Additional Insights for Physicians –

WESTON, Mass.–(BUSINESS WIRE)– Biogen Idec (NAS: BIIB) and Elan Corporation, plc (NYS: ELN) announced results from several studies of TYSABRI® (natalizumab) that demonstrate its efficacy compared to other multiple sclerosis (MS) treatments, provide additional data supporting anti-JC virus (JCV) antibody status stability, and suggest better outcomes when progressive multifocal leukoencephalopathy (PML) is detected early. These data will be presented at the 65th Annual Meeting of the American Academy of Neurology (AAN) in San Diego.

“These new data reinforce our belief in the substantial efficacy TYSABRI has demonstrated at both the early and advanced stages of relapsing forms of MS,” said Alfred Sandrock, M.D., Ph.D., senior vice president, Development Sciences and chief medical officer, Biogen Idec. “We are also encouraged by the consistency in anti-JCV antibody status demonstrated over 18 months, as well as results from our pursuit of additional paths to help mitigate the impact of PML. These combined efforts may allow a more individualized approach when selecting TYSABRI treatment, while helping physicians better understand a patient’s benefit-risk profile.”

Substantial TYSABRI Efficacy Demonstrated Against First-Line Therapies

In an independent statistical analysis led by Timothy Spelman and Helmut Butzkueven, M.D. at the University of Melbourne, with contribution by Fabio Pellegrini and Annie Zhang, TYSABRI demonstrated a significantly lower rate of first relapse compared to interferon beta (IFN) and glatiramer acetate (GA). This propensity-matched analysis was conducted using data from two MS patient registries: TYSABRI Observational Program (TOP) and MSCOMET. The results indicate that relapses were not only more likely to occur in patients taking IFN and GA, but that they occurred more quickly, when compared to patients taking TYSABRI (hazard ratio 2.73, 95 percent confidence interval 2.10-3.55, p<0.001).

  • Comparison of Patients Treated with Natalizumab and Interferon-Beta/Glatiramer Using Propensity-Matched Multiple Sclerosis Registry Data (P01.211) will be available for viewing on Monday, March 18, 2013 from 2:00 to 6:30 p.m. PDT

…read more
Source: FULL ARTICLE at DailyFinance