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Kelly Martin
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Latest Headlines
Top 10 Biotech CEO Pay Packages of 2012
It's a great time to helm a large biotech company, generally. Big biotech players overall posted major growth last year, and their CEOs got richer in the process. Most got fat raises while others saw their bundles of pay pale in comparison to 2011 figures. We surveyed the total compensation packages of the 10 largest biotech companies based on market capitalization as of early May, sleuthing mostly proxy statements for the financial details on pay for some of the most powerful people in the industry. Check it out >>
Elan orchestrates $693M biotech buyout, $90M spinout in deal frenzy
In a dealmaking frenzy, cash-rich Elan has agreed to pay up to $693 million for a biotech company focused on rare diseases, picked up a big share of a start-up specialty pharma company based in Dubai, spun out its sole remaining clinical asset into a new company with $90 million in financing and set up an $800 million debt offering to help keep the deals coming.
Elan closes $3.25B Tysabri deal and preps for biotech deal spree
Elan has wrapped up its $3.25 billion deal to sell its stake in Tysabri to Biogen Idec and begun to pivot to the next chapter in its storied journey, ready to unleash a burst of new acquisitions after it hopes to bury a buyout offer from an unwelcome suitor.
Royalty Pharma plans to press $6.6B Elan offer on investors
Anxious to win support for its $6.6 billion bid to snap up Elan before the biotech company can spending its $3.25 billion Tysabri windfall on new therapies, Royalty Pharma has announced it's ready to complete due diligence in a matter of days and is setting up meetings with Elan shareholders to press its case.
Royalty Pharma offers Elan investors a chance to cash out with $6.55B deal
A royalty investment group believes it can one-up Elan CEO Kelly Martin on a strategy for the company's next chapter. Royalty Pharma today offered $6.55 billion to simply buy out the company, giving investors a choice between cash in hand and trusting Martin to invest the $3.25 billion Tysabri windfall wisely.
Elan lines up biotech deals as it preps for $3B Tysabri windfall
Dublin-based Elan has told investors how it plans to play the first two rounds in a $3.25 billion game set up by the sale of Tysabri. In a statement this morning the biotech company said it will use the first $1 billion in a share buyback aimed at returning some of the money to investors
Elan shareholders to get taste of $3.25B windfall
Some shareholders started grumbling that they would like to get their hands on the windfall as soon as they learned Elan would sell its key asset, multiple sclerosis drug Tysabri, to Biogen Idec ($BIIB) for $3.25 billion.
Elan fails to inspire analysts with deal-making plans for $3.25B
Elan CEO Kelly Martin played head cheerleader for yesterday's $3.25 billion deal with Biogen Idec for its 50% stake in Tysabri, but he couldn't talk up the stock price. Now that he's completed a blockbuster deal to end the partnership, Elan is left with a wad of money to pursue Martin's plan to acquire both approved and experimental drugs.
UPDATED: Elan stokes buyout buzz with plan for $130M R&D spinout
Just days after the monumentally pricey late-stage program for bapineuzumab went up in smoke, Elan's board has OK'd a move to split the company, spinning off its drug discovery unit into a new company with 80 staffers and about $130 million in cash to burn.
Elan faces uncertain future after Alzheimer's drug crash
Irish drugmaker Elan fell hard on news that partner Johnson & Johnson and Pfizer have iced a late-stage program to develop its experimental Alzheimer's drug bapineuzumab. And the key program's collapse revived speculation about the future of the pharma group with CEO Kelly Martin expected to leave and ongoing buzz about a potential sale of the company.
