Alzheimer’s Setback Makes Elan Takeover Bait to Biogen

Alzheimer’s Setback Makes Elan Takeover Bait to Biogen

John Cogill/Bloomberg

While data compiled by Bloomberg show Elan is still more expensive relative to earnings than every specialty drugmaker greater than $5 billion, the chance to fully own Tysabri may spur Biogen to offer at least $15 a share, a 25 percent premium to yesterday’s price, RBC said.