Elan Says It Has Cured Tysabri Contract Breach

Law360, New York (September 14, 2009, 7:50 PM EDT) -- Elan Corp. PLC claims to have cured a breach of a contract with Biogen Idec Inc., which would allow an $885 million Alzheimer's drug deal with Johnson & Johnson to go forward.

Elan announced Monday that the “unintended” breach had been cured by amending a contract with Johnson & Johnson to exclude a section related to Tysabri, a multiple sclerosis drug jointly marketed by Elan and Biogen.

A spokeswoman for Biogen declined to comment on her company’s position on the purported contract cure.

The July 2...
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