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News Summary: Elan, Biogen revise Tysabri deal

Updated at: 02/06/2013 6:38 PM
By The Associated Press

TAKING OVER: Biogen Idec will take over full ownership of the multiple sclerosis treatment Tysabri from its partner Elan Corp. PLC in exchange for a $3.25 billion cash payment and royalties on future sales.

CAPITAL IDEA: The drug developers currently split earnings from Tysabri, but Elan said the new deal will give it capital for investing and growing its business.

DIRECT INJECT: Tysabri is a drug taken intravenously once a month to combat to treat a form of multiple sclerosis that cycles between stages of relapse and remission.

(Copyright 2013 by The Associated Press. All Rights Reserved.)