Biogen Idec has announced the completion of its move to acquire full strategic, commercial and decision-making rights to the multiple sclerosis (MS) drug Tysabri.
The company has bought out its partner Elan's share in the therapy in order to further strengthen its leadership in the MS treatment field and take a more active role in maintaining the future growth trajectory of the product.
Tysabri is approved in more than 65 countries, including a European indication for highly active relapsing-remitting MS in adult patients who have failed to respond to beta interferon or have rapidly evolving severe RRMS.
Biogen Idec is also currently carrying out a clinical study assessing the potential benefits the compound can offer in the treatment of secondary progressive MS.
In exchange for the full rights to the drug, Biogen Idec has paid Elan an upfront fee of $3.25 billion (2.15 billion pounds) plus tiered contingent payments based on future Tysabri worldwide sales.
Dr George Scangos, chief executive officer of Biogen Idec, said: "We are grateful to Elan for more than a decade of collaboration on Tysabri and for their work to provide a seamless transition as we finalised the transaction."See all the latest jobs in Pharmaceutical