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May 13, 2013
Cadwalader, Wickersham & Taft LLP, a leading counselor to global financial institutions and corporations, announced today that client Élan Corporation, plc, a biotechnology company headquartered in Ireland, will purchase from Theravance, Inc. a 21% participation interest in potential future royalty payments related to four respiratory programs partnered with GlaxoSmithKline plc: RELVAR™ ELLIPTA™/BREO™ ELLIPTA™, AORO™ ELLIPTA™, MABA (Bifunctional Muscarinic Antagonist-Beta2 Agonist) monotherapy (GSK961081) and vilanterol (VI) monotherapy. In exchange for the participation interest, Élan will make a one-time cash payment to Theravance of $1.0 billion.
The Cadwalader team is led by Christopher Cox (Corporate), Ira Schacter (Corporate) and special counsel Aly El Hamamsy (Corporate) in New York; and Angus Duncan (Capital Markets) and Adam Blakemore (Tax) in London.
In April, Cadwalader also advised Élan in the restructuring of its Tysabri® collaboration with Biogen Idec. On closing of the transaction, Élan received a cash payment of $3.25 billion, together with a double-digit, tiered royalty right on future worldwide net sales of Tysabri®.
Stephen Day, David Quirolo, Nick Shiren, Jeremiah Wagner, Suzanne Bell, Robert Cannon, Neil Macleod
Scott Cammarn, Mark Chorazak
Scott Cammarn, Mark Chorazak
Partners Scott Cammarn and Neil Weidner will be speaking at this event in New York City.