Biogen to acquire full rights to Tysabri

The company will purchase Elan's 50 per cent stake in the commercial and strategic.

Biogen Idec has announced that an agreement has been reached to purchase Elan's interest in the drug Tysabri (natalizumab), so as to gain full strategic, commercial and marketing rights over the product.
Once the transaction is closed, the previous arrangement between the two companies - which saw worldwide profits of TYSABRI split down the middle - will be terminated to make way for the change in control of provisions.

Under the terms of the new deal, Biogen will use existing cash reserves to pay $3.25 billion to Elan for its share, alongside future contingent payments amounting to approximately 12 per cent of global net sales for the drug in the first 12 months.

George A Scangos, chief executive officer of Biogen Idec, said: "This is a natural next step for Biogen Idec and Tysabri, and it underscores our deep, long-term commitment to improving the lives of MS patients around the world.

"Tysabri is a remarkably efficacious drug, and with the increased awareness of our risk stratification capabilities, we believe MS patients’ use of TYSABRI will continue to expand over the long-term. Full ownership will improve .