By Dow Jones Business News, February 06, 2013, 10:45:00 AM EDT --Biogen to acquire full control of blockbuster multiple-sclerosis drug Tysabri --Tysabri is seen as highly effective but also carries risk of fatal brain infection --Amgen to pay Elan royalties of between 18% and 25% of Tysabri sales Biogen Idec Inc. ( BIIB ) agreed to buy partner Elan Corp.'s (ELN, DRX.DB) interest in Tysabri for $3.25 billion, giving it full control of the blockbuster multiple-sclerosis drug. Biogen is betting that regulators will approve expanded use of the drug despite past safety concerns and help to bolster the company's already strong position in the lucrative MS market. The deal also carries risks. Though Tysabri is thought to be highly effective, it also can cause a fatal brain infection in certain patients, which has limited its use. In addition, new MS therapies are expected to launch soon that could steal its market share, including a new Biogen drug that is pending regulatory approval. "We believe in Tysabri," Chief Executive George Scangos said. "It's an important therapy for MS patients and an important asset for us." Investors applauded the deal as Biogen shares rose 5.8% to $166.47. For Elan, the deal provides … Continue reading
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