Tag Archives: Élan

Corporate Spinoff Monthly Roundup – March 2019

Another month is almost in the books so lets recap the recent spinoff activity and also take a look at what spinoffs the next month will bring: Spinoffs Completed Prior Month It’s worth noting that in February’s roundup, this section had nothing listed. Ooops? It was actually quite a busy month so keep checking our site as we… Read More »

Struggling Perrigo Plans To Spin Off Or Sell Prescription Pharmaceuticals Business

Perrigo Company(PRGO) is another company with a spinoff heritage returning to our pages. Back in 2013, Perrigo acquired the Elan Corporation for $8.6 billion. Elan had completed its spinoff of Prothena(PRTA) in late 2012.  Perrigo subsequently sold the Tysabri royalty stream acquired with Elan to Royalty Pharma for up to $2.85 billion. Today, Perrigo’s market capitalization stands at… Read More »

Perrigo To Acquire Elan Corporation Capping Excellent Return Since Prothena Spinoff

The long saga of Elan’s (ELN) corporate future seems to be coming to an end as the company agreed to an $8.6b takeover by drug company Perrigo (PRGO). The deal is a mix of cash and stock, with shareholders receiving $6.50 in cash and 0.07636 shares of New Perrigo for each share of Elan owned. Putting it all… Read More »

Prothena Expands Executive Team, Moves Forward With Drug Development

A quarter has passed since its spinoff from Elan(ELN), and Prothena(PRTA) continues to lumber forward with its development as an independent company.  Prothena issued two announcements last week. In the first, it announced the expansion of its management team, with the appointments of Dr. Martin Koller as Chief Medical Officer, and Tran Nguyen as Chief Financial Officer. “Marty… Read More »

Xconomy Profile Reveals More About Prothena, Stock Is Still Too Risky

Last month, Elan(ELN) spun off Prothena(PRTA). As we wrote at the time,  Elan gave Prothena $125 million in cash and a research team with no pipeline. Elan itself now consists mostly of Tysabri, a blockbuster drug on which it is partnered with Biogen Idec(BIIB). We have to admit, we knew very little about Prothena, so we were grateful… Read More »

Elan Spinoff Of Prothena Set For This Week, Will Trade Under PRTA Ticker

Elan (ELN) shareholders approved the separation of its drug discovery business, Prothena, at an Extraordinary General Meeting (EGM) last week. The company also released an updated timetable for the transaction and the distribution will take place on December 20th, with shareholders of Elan receiving 1 share of Prothena for every 41 shares of Elan owned as of the… Read More »

Elan To Spin Off Drug Discovery Business, Neotope Biosciences, By Yearend

What do you do when your drug discovery costs swamp your profits from a successful marketed drug.  If you’re Elan Corporation(ELN), you spin off your drug discovery business with a bundle of cash, keeping your marketed drugs and late stage pipeline. Elan, an Irish biotech firm, is driven largely by Tysabri,a multiple sclerosis drug marketed with Biogen Idec(BIIB).… Read More »