Elan's bid to force through a contested sale improved today when the US trade regulator announced it has ended its investigation into the patenting of one of its drugs.
The Federal Trade Commission (FTC) investigation surrounded the claim that Elan had wrongfully listed its patent for a muscle relaxant, Skelaxin, in the Food and Drug Administration's list of approved products known as the "Orange Book".
Elan agreed to sell Skelaxin and sleep drug Sonata to King Pharmaceuticals for $850 million last year. King is now trying to back out of the deal after the FTC said it was investigating whether Elan had unfairly blocked competition to Skelaxin.
A statement issued on behalf of Elan's president and chief executive Mr G. Kelly Martin, said: "We believe that the FTC's letter further confirms and validates our previously stated position that all conditions to King Pharmaceuticals' agreement to close its purchase of Elan's primary care franchise have at all times been, and continue to be, satisfied".
The FTC is continuing other matters relating to Elan.