Shareholder nod for Perrigo Elan deal

US drugmaker Perrigo moved a major step closer to acquiring Dublin-headquartered biotech firm Elan yesterday with shareholders in both companies approving the takeover at separate investor meetings.

The €6.5bn/$8.6bn deal initially agreed between the two companies in July remains on track to be completed before the end of next month.

The US firm — that country’s leading manufacturer of generic drugs — will inherit ongoing royalty payments concerning Elan’s former blockbuster drug, leading multiple sclerosis treatment, Tysabri.