The bidding war for Elan Drug Technologies, a division of the big Irish biotech, just lost a key player. The private equity player Cinven has dropped out of the auction, leaving Bain Capital and TPG. Apax and KKR haven't made a bid yet, but observers say they may yet.
The product development and manufacturing operation should fetch up to $1.5 billion. After the sale, Elan plans to concentrate entirely on biotechnology.
--read the story [1] from the Financial Times
Related Articles:
Elan considers selling division [2]
Elan scouts Dublin-area sites for plant [3]
Elan wins $55M judgment in patent scrap [4]
Alzheimer's drug results boost Elan, Wyeth [5]
Links:
[1] http://www.ft.com/cms/s/0/8472d0dc-6f17-11dd-a80a-0000779fd18c.html
[2] http://www.fiercebiotech.com/story/elan-considers-selling-division/2008-07-21
[3] http://www.fiercepharma.com/story/elan-scouts-dublin-area-sites-plant/2008-06-30?utm_medium=rss&utm_source=rss&cmp-id=OTC-RSS-FP0
[4] http://www.fiercebiotech.com/story/elan-wins-55m-judgment-patent-scrap/2008-06-16
[5] http://www.fiercebiotech.com/story/alzheimers-vaccine-results-boost-elan-wyeth/2008-06-17