As reported in GEN, Alkermes agreed to buy Elan Drug Technologies (EDT) for $500 M in cash plus 31.9 million shares of stock (25% equity stake) to create the new company Alkermes plc in Ireland. The new combined company projects to have product and and manufacturing revenues of $450 million.
Alkermes plc will have access to Risperdal Consta (schizophremia), Invega Sustena (antipsychotic), Ampyra (MS), Vivitrol (alcohol & opioid dependence), and Bydureon (type 2 diabetes). It will also add EDT's Nanocrystal technology for drug delivery and gain manufacturig plants in Wilmington, OH, Gainesvilles, GA and Anthione, Ireland.
Alkermes CEO Richard Pops said the merger will bring the scale and resources for strategic and balanced investment across the whole product continuum, from R&D innovation to clinical development, to world-class manufacturing and commercial expansion.
Posted by Bruce Lehr May 9th 2011.
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