A privately owned drug maker in New York is offering $6.5 billion for Irish drug maker Elan Corp., but hasn't heard back from it, according to published reports.
Elan will sell the rights to its drug for multiple sclerosis to partnering company Biogen Idec for $3.25 billion plus royalties, the Irish drug maker said.
Forest Labs has bought rights to a drug used for high blood pressure that it had marketed with a Johnson & Johnson subsidiary, thus eliminating the need to pay future royalties.
Elizabeth Arden has amended its long-term license agreement with Liz Claiborne to acquire the trademarks for the Curve fragrance brands and selected other smaller fragrance brands.
The Food and Drug Administration has accepted a regulatory approval application for a topical treatment for low testosterone made by Teva Pharmaceuticals and BioSante Pharmaceuticals, BioSante said Wednesday.