According to Royalty, a "sufficient number of these ADSs" voted against Elan's proposed $1 billion cash acquisition of a royalty stream from South San Francisco-based Theravance Inc...Since going hostile, Royalty has upped its bid, with the revised offer comprising $13 per share in cash, with an additional $2.50 per share in contingent value rights linked to the future performance of multiple sclerosis drug Tysabri (natalizumab), in which Elan has a royalty position from Biogen Idec Inc., of Weston

Manufacturing and royalty revenues from Ampyra/Fampyra (dalfampridine, Acorda Pharmaceuticals Inc. and Biogen Idec Inc.) were $65 million, compared to $24.6 million for the previous fiscal year, and royalty revenue from Bydureon (exenatide, Amylin Pharmaceuticals Inc.) was $16.4 million compared to $1.5 million for the prior fiscal year...In other news, Elan priced its offering of $850 million aggregate principal amount of 6.25 percent senior notes due 2021 by its wholly owned subsidiaries, Elan

Another revised proposal to approve an amendment to the 2011 Omnibus Incentive Plan, calls for a limit to the amount of the requested increase to 75 million shares of common stock (in the earlier proxy, an increase of 155 million shares was proposed...The new offer represented a value of $4.6 billion for Elan's Tysabri (natalizumab) royalty, a 42 percent premium to the $3.25 billion at which Elan sold approximately half of its interest in Tysabri to Biogen Idec Inc., of Weston, Mass

Biogen Idec Inc., of Weston, Mass., submitted a biologics license application to the FDA for Plegridy (peginterferon beta-1a), the company's pegylated subcutaneous injectable candidate for relapsing forms of multiple sclerosis. (See BioWorld Today, Jan. 25, 2013...Baxter said it will introduce HyQvia in select countries during 2013 and plans to expand the launch to other EU countries in 2014

Pursuant to the agreement, the company may from time to time sell up to a maximum of $20 million of the company's American Depositary Shares (ADSs

In addition to RA and Crohn's, the pharma may develop GLPG0634 in psoriasis, irritable bowel syndrome and lupus, mirroring the path by which the label on its blockbuster Humira (adalimumab) was expanded beyond RA. (See BioWorld Today, March 1, 2012, and Jan. 3, 2013...SciClone agreed to make additional payments of $10 million if Zensun receives approval of Neucardin by subcutaneous infusion, and further indications and improved product forms could result in additional payments...Prior to the

GW Pharmaceuticals plc, of Porton Down, UK, received commercial approval for lead cannabinoid product Sativex in Italy for moderate to severe spasticity in multiple sclerosis patients who have not responded adequately to other anti-spasticity medications...In other news, closed its initial public offering (IPO) of 3.5 million American depository shares (ADSs) at $8.90 per share...PM01183 is designed to bind covalently to the minor groove of DNA to induce a specific degradation in tumor cells of RNA

Even after the news broke Monday – and the Theravance share price (NASDAQ:THRX) gained more than 14 percent to hit $40 – the entire company was still only valued at $3.94 billion...Editor's note: To obtain a CD of the webinar, "Royalty Financing for Biotech and Medical Device Companies: How to Determine Eligibility and Take Advantage of this Unique Financing Opportunity" or for a deeper dive, BioWorld's Biopharmaceutical Royalty Rates Analysis: Essential Benchmarks for Dealmaking, call 800-477-6307

Biogen Idec Inc., of Weston, Mass., said the FDA accepted the firm's biologics license application for Eloctate (recombinant Factor VIII Fc fusion protein) for the treatment of hemophilia A. The application was based on results from the A-LONG program, showing that patients who injected Eloctate once weekly to twice weekly had low annualized bleeding rates...Kinnovata plans to develop, manufacture and commercialize respiratory products for China and other regional Asian markets, initially

Even after the news broke Monday – and the Theravance share price (NASDAQ:THRX) gained more than 14 percent to hit $40 – the entire company was still only valued at $3.94 billion...Editor's note: To obtain a CD of the webinar, "Royalty Financing for Biotech and Medical Device Companies: How to Determine Eligibility and Take Advantage of this Unique Financing Opportunity" or for a deeper dive, BioWorld's Biopharmaceutical Royalty Rates Analysis: Essential Benchmarks for Dealmaking, call 800-477-6307

formed a joint venture to commercialize Vectibix (panitumumab) in China...The split is intended to increase the per-share trading price of the common stock to satisfy the $1 minimum bid price requirement for continued listing on the Nasdaq Capital Market

turned its attention to other candidates in its pipeline...On a pro forma basis, operating expenses for the three months ending March 31 were nearly comparable to the same period in 2012 – $38.9 million vs. $39.4 million, respectively. 'On Our Way' to Sustained Profitability Isis also reported that it began amortizing revenue during the first quarter from a cancer alliance with AstraZeneca plc, inked in December 2012, and from its third collaboration with Biogen Idec Inc...continue to view shares as

In other news, Addex said dipraglurant demonstrated dose-dependent mGlu5 receptor occupancy in a nonhuman primate positron emission tomography study, showing the correlation between the plasma concentration of dipraglurant and occupancy of dipraglurant on mGlu5 receptors in the brain...The goal is to validate emerging epigenetic targets for oncology indications and to demonstrate the eligibility of selected target families for drug formalations

The product is a biosimilar version of Rituximab (Roche AG and Biogen Idec Inc.) indicated in the treatment of diseases characterized by excessive numbers of B cells, overactive B cells or dysfunctional B cells, such as non-Hodgkin's lymphoma, chronic lymphocytic leukemia and rheumatoid arthritis...In granting the motion, the judge ruled that the plaintiffs failed to offer any reliable evidence that Mr. Cooper's disease was caused by Actos (pioglitazone HC1)," said Kenneth D. Greisman, senior vice

In separate news, another Galapagos unit, Argenta, inked a deal with Boehringer Ingelheim GmbH, of Ingelheim, Germany, to apply its respiratory drug discovery services to an undisclosed target within Boehringer's respiratory disease portfolio...In other news, BioInvent said the first patient has been treated in a Phase II study of BI-505 for smoldering multiple myeloma, or asymptomatic myeloma

However, there was some promising news to help give the sector a lift going into that meeting...According to Credit Suisse analyst Ravi Mehrotra writing in a research note, "We do not think that we are in a 'biotech bubble,' given that the drivers of the biotech sector's YTD performance are very different from those in '99/'00...Editor's Note: The BioWorld editorial team will be providing comprehensive coverage of BIO 2013 in the daily issues of BioWorld Today.

The funding will be used to formulate antigens using Immunovaccine's DepoVax adjuvant technology...The company is expected to roll out the drug to pharmacies within 90 days. (See BioWorld Today, Oct. 23, 2012, and March 27, 2013

The objective of the offer is to return to shareholders up to $1 billion of the up-front payment from Weston, Mass.-based Biogen Idec Inc. (See BioWorld Today, Feb. 7, 2013...GSK is working to resolve the issues with its contract manufacturer, and it is expected that new inventory of Horizant will be available in pharmacies in June

Biogen Idec Inc., of Weston, Mass., said it completed the purchase of Dublin, Ireland-based Elan Corp...SionX is designed to enable high-density expression of recombinant human ion channels on the cell membranes of Tetrahymena thermophile