Elan-J&J Deal Breaches Biogen Tysabri Deal: Court

Law360, New York (September 4, 2009, 4:20 PM EDT) -- A federal court has found that Ireland-based drug manufacturer Elan Corp. PLC violated a nine-year collaboration agreement with Biogen Idec Inc. for the development and marketing of multiple sclerosis medication Tysabri by entering into a separate $1 billion acquisition deal with a Johnson & Johnson affiliate.

The U.S. District Court for the Southern District of New York handed down the ruling on Thursday, and the determination means that Elan has to revise the J&J deal by Sept. 26 or it could lose its rights to Tysabri,...
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