GSK's former exec. is now the Elan Chairman. Elan wants to take the proceeds of the sale of Tysabri to Biogen and find a new drug company to buy.
Bob Ingram cameover from GSK and became the Chairman of Elan recently. They just announced the sale of the rights of their MS drug, Tysabri, to Biogen, for $3.25 billion, plus additional revenues. Elan now has around $4 billion in cash for investments. Elan and AMRN are from Ireland. GSK took down their website for Lovaza, almost to the day Vascepa was launched. The '520 and '569 patents in the Anchor area, have come in. The suppliers, including BASF, are lining up, getting ready for big sales. Another plant is being built for additional supply.
Why would Ingram comeover from a big company like GSK, to a struggling much smaller Elan,to get Biogen to more heavily promote Tysabri, unless a deal was in the works to get a big payment for Tysabri, so Elan could buyout some other comapny with the proceeds. Of course, there is ARNA sitting their also, but GSK has/had Lovaza. Maybe, he was put there to manage a draw down of L's shares, as Vascepa take's them down. Kind of the way Biogen managed Tysabri with
Elan, where they treated ELN's share like a step-child, holding back it's growth until the volumes picked up as it replaced Avonex, another less effective drug, compared to Tysabri.
The info about Ingram was in an article in the Financial Times in DEC.
Still, even though the logic in the original post is completely ridiculous, Elan could use the proceeds and combine with financing or shares to by Amarin. Could happen. If not Amarin another deveopment stage biotech with potential. I can think of a few that could be bought for that 3 billion. . . . but they better not wait as values ahve been and will continue to increase this year as the overall market conditions have been improving as we begin to move past the great recession