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Drug Names(s): AI-128
Description: AI-128 is a sustained release, dry powder formulation of a commonly used FDA-approved asthma drug. It is being developed with once-a-day dosing and uses a microparticle delivery system.
Deal Structure: AI-128 was originally developed as part of a joint venture with Elan Corporation established in 2000. In 2002, Elan ceased funding the joint venture, which was terminated. In connection with the termination, Acusphere agreed to pay Elan a royalty if they commercialize AI-128.
Perrigo and Elan
In December 2013, Perrigo and Elan announced that Perrigo has completed the acquisition of Elan in a cash and stock transaction valued on the date of the announcement at approximately US$8.6 billion. In connection with the acquisition, Perrigo and Elan have been combined under a new company incorporated in Ireland and have adopted the global name Perrigo Company plc. Shares of Perrigo will trade on the New York Stock Exchange and the Tel Aviv Stock Exchange under the ticker symbol PRGO. The scheme of arrangement to effect Perrigo's acquisition of Elan has taken effect today, and Elan shareholders will receive the consideration to which they are entitled under the scheme of...See full deal structure in Biomedtracker
Partners: Perrigo Company PLC
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