News Summary: Elan, Biogen revise Tysabri deal

News Summary: Elan, Biogen Idec amend terms of Tysabri collaboration

Associated Press

TAKING OVER: Biogen Idec will take over full ownership of the multiple sclerosis treatment Tysabri from its partner Elan Corp. PLC in exchange for a $3.25 billion cash payment and royalties on future sales.

CAPITAL IDEA: The drug developers currently split earnings from Tysabri, but Elan said the new deal will give it capital for investing and growing its business.

DIRECT INJECT: Tysabri is a drug taken intravenously once a month to combat to treat a form of multiple sclerosis that cycles between stages of relapse and remission.

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