Elan Corp. to have its day before a judge

9/2/2009

NEW YORK Elan Corp.’s lawsuit against Biogen Idec in Federal Court in New York will soon go before a judge.

According to published reports, presiding judge Deborah Batts ordered that the first hearing, originally announced in early August, will take place Thursday at 11 a.m. The hearing was originally scheduled to take place next week.

Elan filed the suit to obtain declaratory and injunctive relief that a deal it made with Johnson & Johnson – whereby J&J would buy 18% of Elan and Elan’s rights to the multiple sclerosis drug Tysabri (natalizumab) – complied with its development and marketing agreement with Biogen Idec. In July, Biogen Idec alleged in a letter to Elan that Elan breached the agreement between the two companies by giving J&J the option of providing financing for Elan to buy Biogen Idec’s rights to Tysabri if Biogen Idec ever undergoes a change of control.

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