Royalty Pharma

Elan shareholders approve one of four transactions

Monday, June 17, 2013

Elan shareholders approved one of four transactions up for a vote at its special meeting Monday. Shareholders rejected plans for a $1 billion cash acquisition of a 21% stake in Theravance’s royalties from the respiratory franchise it shares with GSK; acquisition of Vienna, Austria-based AOP Pharmaceuticals for $348.8 million; and the spinout of ELND005 into a new Irish startup Speranza Therapeutics, with $70 million in funding.

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