Elan partner not a takeover target

ELAN said yesterday that it is fully committed to its multiple sclerosis treatment Tysabri after its production partner — the US-based company Biogen Idec — announced it was not about to be taken over and would remain independent.

Earlier this year, Biogen was touted as a potential takeover target for a number of players such as Johnson & Johnson, Sanofi, Pfizer and one of its own shareholders, US billionaire Carl Icahn.

In October, as a direct reaction, Dublin-headquartered Elan signed up international investment bank Lehman Brothers to advise it on its possible options should Biogen be sold.