Alkermes to Merge With Elan Drug Technologies
Alkermes Inc. said Monday it will merge with Elan Drug Technologies in a cash-and-stock deal valued at $960 million.
U.S. drugmaker Alkermes Inc. has inked a definitive agreement to merge with Elan Drug Technologies (EDT), the drug formulation and manufacturing business unit of Elan, for approximately $960 million in cash. The combined companies will be named Alkermes plc.
Alkermes plc will have revenue from 25 commercialized products, with future growth expected from products Risperdal Consta, Invega Sustenna, Ampyra, Vivitrol and Bydureon. The combined company is expected to have product, royalty and manufacturing revenues of more than $450 million annually and resources to invest in its pipeline.
"The merger will be financially transformative and create a profitable, global biopharmaceutical company with a diversified CNS product portfolio and a strong foundation f
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