Elan to restructure J&J deal after ruling

IRISH pharmaceutical firm Elan will have to restructure its €1 billion strategic development deal with US healthcare giant Johnson & Johnson (J&J) before the end of this month.

This became necessary after a New York court ruled that Elan had, by agreeing the deal, breached its existing collaboration with Biogen Idec relating to the multiple sclerosis drug Tysabri.

In July, it was announced that J&J would invest just over €1bn in Elan in return for an 18.4% of the entire company and a 50.1% stake in Elan’s Alzheimer’s immunotherapy programme.