Biogen pays Elan $3.25 billion to take over MS drug

DUBLIN (Reuters) – Biogen Idec is to take full ownership of blockbuster multiple sclerosis drug Tysabri after agreeing to pay Irish partner Elan $3.25 billion plus future royalties on sales of the drug. The deal gives Elan strategic flexibility to buy new assets but leaves unclear the future direction of the company, since Tysabri was by far its most important product. Sales of Tysabri, which provides Elan with almost all of its revenue, rose 8 percent to $1.6 billion last year. A filing last month for approval to sell the drug as a first-line treatment for could boost sales further. …