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Elan, Royalty Pharma neurology news

Royalty said it raised its offer to acquire Elan for a third time, now valuing the biotech at up to $7.9 billion from $6.4 billion, based on 510.3 million shares outstanding at May 10. Elan said its board will assess the revised offer and advised shareholders take no action in the meantime. For each share held, Elan shareholders will receive $13 in cash and a contingent value right (CVR) worth up to $2.50 tied to a label expansion for Tysabri

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