Elan has engaged Lehman Brothers to advise it following the announcement last Friday that Biogen has received expressions of interest from potential purchasers.
The Irish pharmaceutical company and Biogen are joint stakeholders in the multiple sclerosis treatment Tysabri.
Elan said today that if Biogen was purchased, Elan has the right to acquire for fair value Biogen's economic interest in Tysabri under the terms of the collaboration agreement.
Elan said it may also restructure and continue the collaboration agreement with any potential purchaser.
READ MORE
Tysabri is being considered by the US Food and Drug Administration for use in the treatment of the gastro-intestinal condition Crohn's Disease.