Elan retains a royalty interest after selling its ownership of Tysabri to partner Biogen Idec for $3.25 billion.

Drug royalties group Elan has urged shareholders to reject the hostile takeover offer from Royalty Pharma. (...)

Elan executives at a recent egm in the Westin Hotel in Dublin [ FROM LEFT] G.Kelly Martin chief executive, Robert A Ingram, chairman and Liam Daniel, company secretary . Photograph: Cyril Byrne/Irish Times

The board of drugmaker Elan has unanimously rejected a formal bid from Royalty Pharma , saying the US investment firm's offer of $11.25 a share(...)