Pharmaceutical Executive-09-17-2009

News Analysis
Pharmaceutical Executive

September 16, 2009

Elan was forced to trim $100 million off its billion-dollar deal with J&J due to a 50/50 agreement with Biogen Idec involving co-ownership of MS drug Tysabri. Now J&J is out a major drug, Elan is out a good chunk of cash, and Biogen Idec is pondering its next move.

News Analysis
Pharmaceutical Executive

September 14, 2009

Eli Lilly announced this morning that it would eliminate approximately 5,500 positions as part of a massive reorganization strategy that's expected to net the firm reduce $1 billion in costs by 2011.