Elan's $1bn last-minute ticket for Breo Ellipta bandwagon
This article was originally published in Scrip
Executive Summary
Elan has announced a $1 billion payment to Theravance in return for a 21% share of the royalty stream from sales of Breo Ellipta, the once-a-day treatment for chronic obstructive pulmonary disease that was approved by the US FDA on Friday. The one-off cash payment also buys it an interest in three other respiratory products that are yet to be approved.