Biogen Elan Tysabri Agreement
Biogen and Elan have entered into an agreement to develop and market Tysabri, a drug used for treating multiple sclerosis. The drug has been approved by the FDA for use in relapsing forms of MS and is currently being used worldwide.
The partnership between Biogen and Elan was formed in 2000, following the development of Tysabri. The drug was originally marketed by Biogen, but the partnership with Elan has allowed for the expansion of the drug`s reach.
Under the terms of the agreement, Elan holds the rights to Tysabri in the EU, while Biogen holds the rights in the United States and the rest of the world. The two companies share the costs of development and marketing of the drug.
The agreement between the two companies has been beneficial for both parties. Biogen has been able to expand the reach of Tysabri, which has led to increased revenue. Elan has also benefited, as it has been able to increase its share of the MS drug market.
Despite the success of the partnership, there have been some challenges. In 2005, Tysabri was temporarily withdrawn from the market due to safety concerns. The drug was re-released in 2006, after testing showed that it was safe and effective.
In 2012, Biogen announced that it would be purchasing Elan`s share of Tysabri for $3.25 billion. The decision to purchase Elan`s share was based on the successful performance of Tysabri and Biogen`s desire to expand its reach.
The Biogen-Elan partnership and their development of Tysabri have been instrumental in the treatment of multiple sclerosis. The drug has been a major breakthrough in the treatment of MS and has helped many patients worldwide. The partnership between the two companies has been a model for successful collaborations in the pharmaceutical industry.