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Biogen gains full rights to Tysabri in $3.25bn deal with Elan
Ends decade-long partnership for MS drug
Biogen Idec will gain full rights to multiple sclerosis (MS) drug Tysabri after agreeing a deal worth at least $3.25bn with co-marketers Elan.
The two companies originally began their partnership more than a decade ago, agreeing to split profits 50/50 once it was approved for use for adults with relapsing-remitting MS (RRMS).
Tysabri (natalizumab), which made more than $1bn for each company during 2012, doesn t come cheap for Biogen, however, and on top of an upfront cash payment worth $3.25bn, Elan is due several further financial benefits.