Deals
Elan Makes Two Acquisitions for $380 Million
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Elan Corp. acquired AOP Orphan Pharmaceuticals AG for 263.5 million euros ($340 million), expanding its business into medicines for rare diseases as it resists a takeover bid from Royalty Pharma.
The purchase of Vienna-based AOP Orphan is the second acquisition this month. Elan also bought a 48 percent stake in Dubai-based NewBridge Pharmaceuticals for $40 million, and plans to issue $800 million in debt to take advantage of attractive interest rates, the company said in a statement today.