Briefs: Elan/Royalty Pharma; Meda takeover statement; priority review for metreleptin; clinical hold on Pluristem trial
Ireland-based Elan Corp (NYSE: ELN) has won an order from a US judge temporarily blocking Royalty Pharma from attempting a $6.4 billion hostile takeover after Elan sued to halt what it called a “coercive” tender offer (The Pharma Letter June 4).
Elan has also confirmed that Royalty Pharma yesterday afternoon (June 4, Irish time) agreed not to further disseminate its proxy statement relating to its takeover bid, which the Irish High Court on June 3, 2013 restrained Royalty Pharma from distributing to Elan shareholders, until the Irish Takeover Panel has reviewed the contents of the proxy statement for compliance with Irish Takeover Rules disclosure requirements.
Until such time as the Irish Takeover Panel has resolved these matters, Royalty Pharma may not mail or distribute the proxy statement to Elan shareholders.
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