The deal centers on J&J`s ability to acquire rights to Tysabri at a lower price – the deal discourages competitors from offering against J&J if J&J wants to acquire Biogen and thus by Elan on the other side. This reduced price has an impact on Biogen and therefore on the basis of the agreement. The purpose of the agreement is to have both parties sign changes to “rights or obligations” on both sides. And that clearly didn`t happen. Elan is hosting a webcast today, February 6, 2013 at 8:30 a.m. EST/1:30 p.m. GMT to discuss the full-year 2012 financial results, and the Tysabri restructuring transaction will be discussed during the conference call. Live audio of the conference call is simultaneously broadcast over the Internet and is available to investors, members of the news media and the public. This event can be viewed by visiting Elan`s website in www.elan.com and clicking on the Investor Relations section and then the event icon. After the live webcast, an archived version of the call will be available under the same URL. Biogen Idec uses the most modern science to detect, develop, manufacture and commercialize therapies for serious diseases, with a focus on neurology, immunology and hemophilia. Founded in 1978, Biogen Idec is the world`s oldest independent biotechnology company.
Patients around the world benefit from its leading multiple sclerosis therapies and the company generates more than $5 billion in annual revenue. . . .