Elan Acquires Sano In Deal Valued At $375 Million
Elan Corp, the international pharmaceuticals group based in Dublin,Ireland, is acquiring Sano Corp of the USA in an all-stock transaction which values Sano at $35.50 per share or approximately $375 million.
Under the terms of the agreement, each common share of Sano will be exchanged for 0.65 of an Elan American Depositary Security. After a one-time charge for the write-off of in-process R&D, Elan has said it expects the deal to be earnings neutral in 1998.
Strong Product Pipeline Sano, a developer of proprietary transdermal drug delivery systems, has no marketed drugs but received US Food and Drug Administration approval for one generic transdermal product in 1997. It currently has a portfolio of 15 products in various stages of development.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze