Content about AOP Orphan Pharmaceuticals

May 22, 2013

Irish drug maker Elan is paying about $380 million to buy two drug makers, the company said.

DUBLIN — Irish drug maker Elan Corp. is paying about $380 million to buy one drug maker and a large stake in another, the company said.

Elan announced plans to buy Vienna-based AOP Orphan Pharmaceuticals for about $340 million, a company that specializes in drugs for rare conditions in a variety of areas, including cancer, neurology and metabolic disorders. Elan also paid an initial $40 million to buy a 48% stake in Newbridge Pharmaceuticals, based in Dubai, United Arab Emirates. Elan will have the option to buy the rest of the company for $244 million by 2015.