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Thursday, September 28
Elan to Pay $200 Million to Develop Alzheimer's Drug Sept. 27 (Bloomberg) -- Elan Corp., the maker of the Tysabri multiple sclerosis treatment, will pay as much as $200 million to add an experimental treatment to its Alzheimer's disease program.
Transition Therapeutics Inc., based in Toronto, will get $7.5 million this year and the same amount next year from Elan for a drug known as AZD-103, in addition to milestone payments that may reach $185 million, the Dublin-based drugmaker said today. The drug is in the earliest stage of human research. Elan is already working with Wyeth to develop two experimental compounds for Alzheimer's disease, a progressive brain disorder that affects about 20 million people worldwide. The company is also developing drugs for Parkinson's and Crohn's diseases after reintroducing Tysabri in recent months..... |